KITCHENER, ON, Oct. 6, 2026 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e‑STORAGE, its energy storage solutions business, has signed an agreement to supply and commission a 100 MW/200 MWh battery energy storage system (BESS) for OX2's Muswellbrook Solar Farm and Battery, a solar-plus-storage project in New South Wales, Australia. Shipments are scheduled to begin in Q3 2027, with commercial operation targeted for Q3 2028. The battery cells and SolBank system will be produced in-house at Canadian Solar's manufacturing facilities, giving the customer end-to-end supply chain visibility and ensuring strict quality control across the product.

e‑STORAGE will deliver an integrated solution built on SolBank 3.0 battery containers, paired with Power Conversion Systems (PCS), plant controls, and the Company's proprietary EQ-S Energy Management System (EMS) developed and built in-house by e‑STORAGE's North American software team. e‑STORAGE will be responsible for the R1 grid connection studies, supply the hybrid power plant controller that coordinates the battery with the co-located solar farm, and lead the overall integration and commissioning of the hybrid project. The arrangement is backed by a 20-year long-term service agreement (LTSA), placing hardware, proprietary software, and long-term performance under a single accountable partner.

The project sits roughly 2.5 kilometers east of Muswellbrook, on land at a former coal mine within the Hunter-Central Coast Renewable Energy Zone. The location is significant: as the region's aging coal generators wind down toward retirement in the early 2030s, the dispatchable capacity they once provided must be replaced. Two-hour storage fills that gap directly, holding midday solar output and releasing it into the evening demand peak when supply from retiring thermal plants tightens.

Once operational, the system will support the long-term hybrid power purchase agreement OX2 has signed for the project, converting variable solar output into firm, contracted supply. By storing and dispatching solar energy on demand, the BESS strengthens grid reliability in a region transitioning away from coal and helps deliver firm renewable power to the communities in the Hunter Region.

Steve Symons, Vice President, OX2 Australia, said: "This battery storage system is what turns Muswellbrook into a true hybrid facility — pairing solar generation with storage so we can capture energy when the sun is shining and deliver it when the grid needs it most. It's a key step in providing firm, reliable renewable power to the Hunter region."

Jeff Roy, President of e‑STORAGE, said:  "Australia's energy transition is being decided in regions like the Hunter, where storage now has to carry the load that retiring coal once did. We control this project from the cell through to our own energy management software and 20 years of service, which means OX2 has one partner accountable for how the system performs over its full life."

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 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.

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 systems (BESS) spanning battery cells, battery PACKs, power conversion systems (PCS), energy management systems (EMS) and system integration. It also provides comprehensive EPC services and full-lifecycle station operation and asset management, helping customers improve grid operations across the project lifecycle. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

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.

Canadian Solar Inc. Investor Relations Contact

Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

e-STORAGE MEDIA CONTACT
media@csestorage.com 

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SOURCE Canadian Solar Inc.