CSI Energy Storage – the utility-scale battery energy storage subsidiary and platform of CSI Solar, which is a majority-owned subsidiary of Canadian Solar Inc. – has been rebranded. The company will now be known as e-STORAGE and will operate as a distinct business unit under CSI Solar.
e-STORAGE launches with nearly 26 GWh of energy storage projects in its total pipeline and more than $1.7 billion of contracted revenues as of July 2023, an increase from $1 billion in January 2023.
At the core of the e-STORAGE platform is SolBank, a self-manufactured, lithium-iron phosphate chemistry-based battery engineered for utility-scale applications. With the proprietary SolBank product, e-STORAGE offers its customers end-to-end, turnkey battery storage solutions. To date, the company has deployed more than 2.7 GWh of battery energy storage solutions across the United States, Canada, the United Kingdom and China.
“Battery energy storage continues to grow in importance and value for our customers as they continue to deploy renewable energy and help to further decarbonize power grids,” says Dr. Shawn Qu, chairman and CEO of Canadian Solar. “By creating a distinct e-STORAGE brand for our utility-scale turnkey battery storage business, we are further demonstrating that our battery energy storage business has risen to equal significance of long-standing solar business.”
e-STORAGE currently operates two fully automated, state-of-the-art manufacturing facilities and expects to reach an annual capacity of 10 GWh.