Canadian Solar has secured three battery energy storage system (BESS) projects totaling 193 MW in Japan’s inaugural Long-Term Decarbonization Power Source Auction. The winners of this auction were announced on April 26, 2024, with the Company securing a 13.3 per cent of the total awarded energy storage projects.
Under Capacity Reserve Agreements with the Organization for Cross-regional Coordination of Transmission Operators, Canadian Solar will supply capacity for 20 years in exchange for Capacity Reserve Payments, mitigating fixed storage system expenses. These projects, located in Aomori, Fukushima, and Yamaguchi prefectures, are slated to begin operations between 2027 and 2028, featuring the new SolBank 3.0 system from e-STORAGE, a subsidiary of CSI Solar Co., Ltd.
In October 2023, Canadian Solar Inc. revealed plans to construct a 5 GW annual production capacity solar photovoltaic (PV) cell manufacturing factory in Indiana. Reportedly, the $800 million facility will be set in Jeffersonville’s River Ridge Commerce Center and will manufacture solar cells for the company’s module assembly plant in Mesquite, Texas.
