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The brand new settlement expands Pulse Clear Vitality and CSI Vitality Storage’s multi-year relationship
GUELPH, ON, Jan. 4, 2023 /PRNewswire/ — Canadian Photo voltaic Inc. (the “Firm” or “Canadian Photo voltaic”) (NASDAQ: CSIQ) as we speak introduced that CSI Vitality Storage, a part of its majority-owned subsidiary CSI Photo voltaic Co., Ltd. (“CSI Photo voltaic”), has been chosen to produce as much as 550 MWh of SolBank’s vitality storage merchandise to Pulse Clear Vitality (“Pulse”) to be used in varied UK-based initiatives.
The 550 MWh vitality storage initiatives lined by the settlement will use CSI Vitality Storage’s SolBank, a proprietary battery vitality storage resolution designed and manufactured for utility-scale purposes. Below the settlement, CSI Vitality Storage will even present commissioning companies for the merchandise, along with long-term warranties and efficiency ensures.
The brand new settlement expands CSI Vitality Storage’s relationship with Pulse. on Might 2022Pulse introduced that it has chosen CSI Vitality Storage to supply the engineering, procurement, and building companies a complete of 100 MWh in 4 initiatives. The settlement additionally features a 10-year Lengthy Time period Companies Settlement (LTSA) for the operation and upkeep of the services.
Trevor WillsCOO of Pulse Clear Vitality, supplied the next remark, “This massive order dedication underlines the viability of Pulse’s venture pipeline and our dedication to strengthening UK vitality safety by attaining 1 GW+ of put in capability within the close to time period. efforts similar to each MW of storage we set up will permit regionally produced wind and photo voltaic to effectively and reliably serve UK prospects.”
Pulse has developed a pipeline of greater than 2,000 MWh of grid-scale battery storage and vitality optimization alternatives throughout the UK. CSI Vitality Storage’s SolBank can be deployed to assist grid capability wants at a number of websites and extra websites throughout the UK.
on September 2022, CSI Vitality Storage has launched SolBank, a proprietary designed and manufactured vitality storage battery resolution. On the identical time, CSI Vitality Storage additionally introduced the growth of battery manufacturing capability from the present 2.5 GWh to 10 GWh by the top of 2023.
dr. Shawn Qu, Chairman and CEO of Canadian Photo voltaic, commented, “We’re excited to broaden our relationship with Pulse Clear Vitality as they speed up the implementation of their pipeline of diesel-to-battery conversion initiatives and past. UK. We stay up for supporting Pulse as they proceed to develop of their venture pipeline.”
CSI Vitality Storage has deployed greater than 2.4 GWh of battery vitality storage options thus far throughout the USA, Canada, the UK, and China. Till September 30, 2022, the whole pipeline of CSI Vitality Storage reached virtually 25 GWh. The Firm affords end-to-end vitality storage options and companies, made doable by sturdy manufacturing capabilities and cutting-edge merchandise similar to SolBank.
About Canadian Photo voltaic Inc.
Canadian Photo voltaic was based in 2001 in Canada and one of many largest photo voltaic expertise and renewable vitality corporations on this planet. It’s a main producer of photo voltaic photovoltaic modules, supplier of photo voltaic vitality and battery storage options, and developer of utility-scale solar energy and battery storage initiatives with a geographically diversified pipeline in varied phases of growth. Over the previous 21 years, Canadian Photo voltaic has efficiently equipped practically 82 GW of premium high quality, photo voltaic photovoltaic modules to prospects all over the world. Additionally, since coming into the venture growth enterprise in 2010, Canadian Photo voltaic has developed, constructed and linked greater than 7 GWp in additional than 20 nations all over the world. Presently, the Firm has roughly 500 MWp of initiatives in operation, 6 GWp of initiatives below building or within the backlog (late-stage), and a further 19 GWp of initiatives in superior and early- stage pipeline. Canadian Photo voltaic is likely one of the most bankable corporations within the photo voltaic and renewable vitality trade, publicly listed on NASDAQ since 2006. For extra details about the Firm, observe Canadian Photo voltaic on LinkedIn or go to www. canadiansolar.com.
Protected Harbor/Ahead-Wanting Statements
Sure statements on this information launch are forward-looking statements that contain quite a few dangers and uncertainties that would trigger precise outcomes to vary materially. These statements are made below the “Protected Harbor” provisions of the US Non-public Securities Litigation Reform Act of 1995. In some circumstances, chances are you’ll determine forward-looking statements by phrases similar to “believes,” “expects ,” “anticipates,” “intends,” “estimates,” the detrimental of those phrases, or different comparable terminology. Components that would trigger precise outcomes to vary embody basic enterprise, regulatory and financial situations and the state of the photo voltaic and battery storage market and trade; geopolitical tensions and conflicts, together with impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions associated to the COVID-19 pandemic; provide chain disruption; authorities assist for the deployment of solar energy; future obtainable provides of high-purity silicon; demand for end-consumer merchandise and stock ranges of such merchandise within the provide chain; adjustments in demand from key prospects; altering demand from main markets, similar to Japan, the US, China, Brazil and Europe; adjustments in efficient tax charges; altering buyer order patterns; product combine adjustments; altering company duty, particularly in environmental, social and governance (“ESG”); capability utilization; stage of competitors; pricing strain and reductions in or failure to well timed regulate common promoting costs; delays in new product introductions; delays within the utility-scale venture approval course of; delaying utility-scale venture building; delays in finishing the sale of the venture; continued success in technological improvements and supply of merchandise with options demanded by prospects; lack of provide of supplies or capability necessities; availability of financing; trade and inflation price fluctuations; uncertainty associated to the CSI Photo voltaic carve-out itemizing; litigation and different dangers as described within the Firm’s filings with the Securities and Alternate Fee, together with its annual report on Type 20-F filed on April 28, 2022, as amended by October 18, 2022. Though the Firm believes that the expectations mirrored within the forward-looking statements are affordable, it can not assure future outcomes, exercise ranges, efficiency, or achievements. Traders shouldn’t place undue reliance on these forward-looking statements. All info supplied on this press launch is as of the present date, except in any other case acknowledged, and Canadian Photo voltaic has no obligation to replace such info, besides as required below relevant regulation.
CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACTS
Isabel Zhang
Investor Relations
Canadian Photo voltaic Inc.
[email protected]
David Pasquale
World IR Companions
914-337-8801
[email protected]
CSI ENERGY STORAGE MEDIA INQUIRIES
Aly Copple
Progressive Public Relations
713-201-8800
[email protected]
SOURCE Canadian Photo voltaic Inc.
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