Recurrent Energy Completes Sale of Two 100 MW / 400 MWh BESS Projects in France to BW ESS

The 200 MW / 800 MWh portfolio was sold to BW ESS, demonstrating Recurrent Energy's ability to develop and monetize high-quality battery energy storage projects.

KITCHENER, ON, Oct. 29, 2026 /PRNewswire/ -- Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a leading global developer, owner, and operator of solar and energy storage assets, today announced the sale of two standalone BESS projects in France to BW ESS, a global energy storage owner-operator.

The portfolio comprises two projects: Baixas, located in the Pyrénées-Orientales department, with a capacity of 100 MW / 400 MWh, and Coquainvilliers, located in Calvados, with a capacity of 100 MW / 400 MWh. Both projects benefit from advanced transmission-level grid connection positions and have been developed around strong grid fundamentals, including very limited expected network constraints. Together, they will provide 200 MW / 800 MWh of flexible capacity to the French electricity system.

Recurrent Energy originated and developed both projects, including securing the land, advancing grid connection, and managing permitting and local stakeholder engagement. BW ESS will acquire the projects, marking the first transaction between the two companies and BW ESS' entry into the French energy market. Recurrent Energy will continue to lead the projects through the remaining development phase, drawing on its local market knowledge, technical capabilities, and experience in delivering renewable energy and storage projects. Once the remaining development milestones have been achieved, BW ESS will lead the delivery of the assets through construction and into commercial operation. BW ESS intends to own and operate the assets over the long term.

Erik Strømsø, CEO and Co-Founder of BW ESS, commented: "We are excited to work with Recurrent Energy through the next phase and to apply BW ESS' long-term owner-operator expertise as we bring these assets into construction and operation. Entering France is a significant milestone for BW ESS and a natural next step in the expansion of our global energy storage platform. These acquisitions give us an immediate 200 MW / 800 MWh platform in the country and provide a strong foundation for building a sizeable French portfolio. France has a strong nuclear base, but it also has a growing need for flexibility as weather-sensitive demand and an evolving generation mix create more variable system conditions. Batteries can complement France's nuclear backbone by adding the rapid-response flexibility needed to balance the system, absorb surplus power, and make low-carbon generation available when it is most valuable."

Dylan Marx, CEO of Recurrent Energy, said: "This transaction with BW ESS showcases our ability to create value through the delivery of high-quality BESS projects, while remaining closely involved in their development through to commercial operation. It is a strong testament to the BESS platform we have built in France and our ability to continue scaling it. Once operational, the projects will provide flexible storage capacity to support grid stability, balance supply and demand, and facilitate the further integration of renewable energy into the French electricity system."

ABOUT BW ESS

BW ESS is a global energy storage owner-operator, moving with speed to develop, deliver and operate market-leading projects. 

The business is active in the UK, Australia, Italy, Germany, Spain, Sweden and France. It has more than 540MWh of operating Battery Energy Storage Systems (BESS), with ~12GWh under / pre-construction and a development pipeline of several gigawatts.

Part of BW Group, BW ESS builds on decades of global infrastructure experience, takes a long-term view of projects and partnerships, and focuses on unlocking value throughout the energy storage asset lifecycle.

About Recurrent Energy

Recurrent Energy, a subsidiary of Canadian Solar Inc., is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy serves as Canadian Solar's global development and power services business. Additional details are available at www.recurrentenergy.com.

About Canadian Solar

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 25 years, Canadian Solar has successfully delivered nearly 180 GW of premium-quality solar photovoltaic modules to customers across the world. Through its energy storage solutions business e-STORAGE, Canadian Solar has shipped over 23 GWh of battery energy storage solutions to global markets and had a contracted backlog of $3.5 billion as of June 30, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.4 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes approximately 22 GWp of solar and 84 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.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. 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.

BW ESS Media Contact
Tamarindo Communications
[email protected]

Canadian Solar Inc. Investor Relations Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected]

Recurrent Energy Media Inquiries
Inés Arrimadas
Recurrent Energy
[email protected]

SOURCE Canadian Solar Inc.