Canadian Solar's CSI Energy Storage Enters into Supply Agreement with Cero Generation and Enso Energy in the UK for 99 MWh of Energy Storage Solutions
Cero, together with their
CSI Energy Storage will also provide full commissioning and integration services for the projects, in addition to long-term operations and maintenance, warranties and performance guarantees. The projects covered by the agreement are expected to reach commercial operation in late 2024.
Marta Martinez Queimadelos, CEO of Cero Generation, said, "We're thrilled to have established a strong and long-term partnership with CSI Energy Storage through this project, which will be our first battery energy storage system to enter the construction phase. We're looking forward to growing this relationship as we commercialize our pipeline of energy storage projects across
Dr. Shawn Qu, Chairman and CEO of Canadian Solar, added, "We are proud to support Cero Generation as they develop the storage projects needed to support
As of March 31, 2023, CSI Energy Storage's total pipeline was 22.8 GWh.
About Canadian Solar Inc.
About Cero Generation
Cero Generation is a leading specialist in solar energy development, production and storage, accelerating the delivery of a net-zero future across Europe. Powered by an experienced team that brings world-class industry, commercial, engineering and environmental expertise to its projects, Cero is active through every stage of the lifecycle, from planning and construction to operation. It works closely with local development partners, suppliers and stakeholders to deliver high-impact projects that positively benefit the environment and community. Cero is an independent portfolio company of Macquarie Asset Management's
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About Enso Energy
Enso Energy is one of the
Enso Energy believes that it is only with the support of the people most affected by renewable energy development that we can keep the lights on. That is why Enso's expert team is honest, considerate and diligent, with an ambition to use the latest solar and battery technology to make a positive impact on the country and the communities it works in. To find out more visit: https://www.ensoenergy.co.uk/
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 and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; 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 Japan, the U.S., China, Brazil and Europe; 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; 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; uncertainties related to the CSI Solar carve-out listing; 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 18, 2023. 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.
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