e-STORAGE Secures a Battery Energy Storage Project in Germany as Part of its European Expansion

KITCHENER, ON, Nov. 12, 2025 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has signed a Battery Energy Storage System (BESS)  Supply Agreement for a 20.7 MW / 56 MWh DC energy storage project in Lower Saxony, Germany. The agreement also includes a 20-year Long-Term Service Agreement ("LTSA").

By delivering bankable technology and lifecycle services, e-STORAGE supports the build-out of flexible grid infrastructure that enables renewable integration and system stability in key European markets.

e-STORAGE will supply and commission an integrated BESS solution based on its proprietary SolBank technology platform. Shipments are scheduled to begin in March 2026, with commissioning targeted for later that year. The LTSA will provide long-term maintenance and performance services to ensure operational reliability throughout the project's lifespan.

The project was developed by Kyon Energy, which will also serve as the Engineering, Procurement, and Construction Management (EPC-M) contractor until commercial operation.

Florian Antwerpen, Managing Director of Kyon Energy, said, "Large-scale battery storage systems are a key component of Germany's energy transition and security of supply. They provide the urgently needed flexibility in the power grid – more efficiently than any other technology. As one of the leading developers and operators of BESS in Germany, we are consistently driving forward the expansion of this infrastructure."

Colin Parkin, President of e-STORAGE, said, "Strengthening grid flexibility is central to Europe's energy transition, and bankable storage assets have an increasingly important role in that process. We are committed to supporting this need in Germany and across the region through responsible, long-term participation in the market."

About Canadian Solar Inc.

Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 165 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 13 GWh of battery energy storage solutions to global markets as of June 30, 2025, boasting a $3 billion contracted backlog as of June 30, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 80 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

About e-STORAGE

e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. Currently, e-STORAGE operates fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 10 GWh and battery cell capacity of 3 GWh. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

About Kyon Energy

Kyon Energy is a leading German project development company that focuses on large battery storage systems and, in addition to project planning, also acts as an EPCM (Engineering, Procurement, Construction, and Management) and operator of the plants. With 155 MW of battery storage systems successfully developed and sold, over 1.7 GW of approved and ready for construction projects and a current project pipeline of over 7 GW, Kyon Energy is one of the market leaders in Germany. The company, which was acquired by TotalEnergies in January 2024, has a particular focus on the development and optimization of multi-use strategies, combined with deep expertise in project development and management as well as the regulation of large battery storage systems. Through its battery storage systems, Kyon Energy is a driver of the energy revolution and strives for a world powered by renewable, sustainable and independent energy.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected] 

e-STORAGE MEDIA CONTACT 
[email protected]

SOURCE Canadian Solar Inc.