Canadian Solar's e-STORAGE to Deliver 2 GWh of Energy Storage Systems in the UK for Copenhagen Infrastructure Partners

KITCHENER, ON, Jan. 8, 2025 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has signed contracts with Copenhagen Infrastructure Partners (CIP), through its flagship fund CI IV. The contracts cover the delivery of 2 GWh DC of battery energy storage systems for two landmark projects in Scotland: the 1 GWh DC Coalburn 2 Project, situated in South Lanarkshire, adjacent to the existing Coalburn 1 Project, and the 1 GWh DC Devilla Project, located in Fife near Kincardine, north of Edinburgh. Each site will have a two-hour energy storage dispatch capability. Coalburn 2 and Devilla are both scheduled to start construction in 2027.

e-STORAGE, a tier 1 global provider of energy storage solutions, will supply and integrate approximately 450 SolBank 3.0 battery containers during the construction of both projects. e-STORAGE will also support the long-term facility performance and operational management of the projects under a long-term service agreement with CIP. The 2 GWh capacity delivered by the projects will provide enough energy to power approximately 250,000 homes for a full day, based on average UK electricity consumption. These transformative initiatives will play a pivotal role in stabilizing the grid, reducing carbon emissions, and driving the UK's clean energy transition.

Coalburn 2 and Devilla are expected to collectively displace approximately 4.57 million metric tons of CO₂ emissions during their lifespan, making a significant contribution to combating climate change. The projects will enable the efficient transmission of renewable energy across the country, support offshore wind generation, and include environmental measures such as tree planting and habitat creation to enhance biodiversity.

Nischal Agarwal, partner at CIP, commented, "CIP's latest investments in Scottish battery energy storage will support the UK's pursuit of a clean power system by 2030 and delivering a net zero carbon economy by 2050. Well located battery storage, such as our Coalburn and Devilla projects enhance energy security, provide the grid with much-needed flexibility and enable low-cost renewables to be deployed faster."

Colin Parkin, President of e-STORAGE, commented, "We are thrilled to continue our partnership with Copenhagen Infrastructure Partners, as they solidify their position as one of the UK's largest battery storage investors, leading the way with these groundbreaking projects, the largest of their kind in Europe. The Coalburn 2 and Devilla batteries represent a transformative energy milestone for Scotland and the UK. e-STORAGE will be delivering 2 GWh of energy storage capacity, which will enhance grid stability, reduce network constraints, and unlock the potential of offshore wind energy."

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 Ontario, Canada, 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 23 years, Canadian Solar has successfully delivered around 142 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 8 GWh of battery energy storage solutions to global markets as of September 30, 2024, boasting a US$3.2 billion contracted backlog as of November 30, 2024. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 26 GWp of solar and 66 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 solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. Currently, e-STORAGE operates two fully automated, state-of-the-art manufacturing facilities with an annual battery production capacity of 20 GWh. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

About Copenhagen Infrastructure Partners

Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X. In the UK, CIP is investing in over 30 GW of renewable energy infrastructure, representing over £15 Billion of future investment potential.

CIP manages 12 funds and has to date raised approximately EUR 31 billion for investments in energy and associated infrastructure from more than 180 international institutional investors. CIP has approximately 500 employees and 14 offices around the world. For more information, visit www.cip.com.  

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 power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; 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 China, the U.S., Europe, Brazil and Japan; 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; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; 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; 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 26, 2024. 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 INQUIRIES
Simona Marginean
e-STORAGE Marketing Manager
simona.marginean@csestorage.com

CIP MEDIA CONTACTS
Alex Murley
CIP Head of Government Affairs & Communications (UK & Ireland)
Email: almu@cisc.dk  

Oliver Routhe Skov
CIP Head of Media Relations
Email: orsk@cip.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Canadian Solar's e-STORAGE to Deliver 2 GWh of Energy Storage Systems in the UK for Copenhagen Infrastructure Partners

LAS VEGAS, Jan. 9, 2025 /PRNewswire/ -- MOVA, the globally recognized brand for innovative smart appliances, debuted at CES 2025 with an impressive showcase. The lineup included advanced smart cleaning devices like robotic, wet and dry, cordless stick vacuums, and personal care products like hair dryers and electric toothbrushes. Additionally, MOVA introduced a complete range of home essentials, featuring automatic coffee makers, air fryers, and robotic lawnmowers.

Taking "Premium, Innovative, Stylish" as its brand DNA, MOVA presented multiple groundbreaking technologies that define the future of smart home living, aiming to redefine daily domestic experiences.

At CES 2025, MOVA unveiled a lineup of groundbreaking products, including the V50 Ultra robot vacuum, boasting 24,000Pa suction power, advanced obstacle-crossing technology, and radar lift functionality. The Z50 Ultra robot vacuum also took center stage with its triple AI dirt recognition system and real-time mop cloth fluffing. Additionally, the intelligent P50 and P10 series robot vacuums were prominently featured. The V50 Ultra earned prestigious honors, including the Best of CES award from Yanko Design and the CES Innovation Award from Slashgear, underscoring MOVA's commitment to innovation and style.

Among the standout products is the P10 Pro Ultra Robot Vacuum, which embodies the feature "fast, flexible, and forceful." This advanced vacuum features To Every Corner and Edge- Sidebrush and mop dual extensions guarantee to reach deep into corners and edges of walls, leaving no corner untouched. MopExtendâ„¢ Cleaning Technology tackles hidden nooks and crannies, delving under low furniture as wide as 4cm*. Besides that, the P10 Pro Ultra boasts an impressive 13,000Pa Powerful Vormaxâ„¢ Suction with 5-Level Adjustment, which can easily suck away the hard floor or carpet dust, pet hair, cat litter, snack crumbs, and so on. It is now available on MOVA's official website and Amazon as of November 2024, with a price of $1099.

MOVA also introduced the K30 Wet and Dry Vacuum, designed for thorough floor cleaning with a unique 180° Lie-Flat Reach. The K30 offers an upgraded motor delivering 18,000Pa powerful suction for versatile cleaning while maintaining ease of use with lightweight design and self-cleaning functionality. With 60℃ Hot Air Drying, you can enjoy fresh results every time. After dual rotation brush washing, the brush spins at high speeds to effectively remove excess water, followed by 30 minutes 60°C hot air drying. This thorough process prevents odors and keeps the brush dry after each use. Moreover, its smart dirt detection technology automatically adjusts suction power, ensuring optimal cleaning performance, and it includes hot air drying for efficient maintenance.

Another highlight at the event is the S4 Detect Stick Vacuum, which promises "persistent power, illuminated clean." This lightweight vacuum features a powerful 150AW suction capability, enabling up to 90 minutes of cordless cleaning. The integration of OptiInsightâ„¢ technology illuminates dark areas, revealing hidden dust, while a five-layer filtration system ensures a 99.9% filtration rate, providing users with an exceptional cleaning experience.

In addition to cleaning solutions, MOVA also showcased personal care products. The Turbo hair dryer features a high-speed motor operating at 110,000RPM, significantly reducing drying time while minimizing heat damage. With an ergonomic design and low noise operation, it emits 200 million negative ions for a sleek, shiny result.

The Fresh Pro toothbrush delivers cleaning power eight times greater than a manual toothbrush. With 3DCleanâ„¢ technology and vibrations reaching up to 69,000 times per minute, it elevates oral hygiene. Integrated smart features, accessible via the MOVAhome App, help users monitor and improve their brushing habits.

MOVA also proudly introduces the robotic lawn mower——MOVA 600, designed to keep your yard neat and pristine. Equipped with the UltraView™ environmental sensing technology, this smart robotic mower swiftly sets virtual boundaries, accurately maps locations, and easily avoids obstacles. A palette of adjustable settings and controls accessible through the app caters to all your personalized needs.

For coffee lovers, the coffee machine——CF10M is our latest top-tier model to enhance your coffee experience. From freshly ground coffee beans to rich aromas, you can enjoy a wide range of drinks at the touch of a button. The machine features an integrated milk system for automatic dispensing, an intuitive color touchscreen menu, and 19-bar pressure for high-quality brewing. The advanced Dual Nozzle feature even lets you craft two coffees simultaneously, perfect for sharing moments with your family.

Completing the lineup is the Air Fryer - FD25 Pro, designed for novice cooks and food masters alike. It features top and bottom dual heating and a unique FlexZoneâ„¢ basket that shifts from a spacious 10L compartment into two separate cooking zones with Sync Finish Mode. With a maximum temperature of 240°C, cooking time is reduced by 55% and energy use by 75%, making cooking faster and more efficient.

MOVA also announced its new global three-year warranty at CES 2025, reinforcing its commitment to customer satisfaction. This warranty ensures long-term performance and support for its cutting-edge smart home innovations. The three-year global warranty program applies to various product categories, including robot vacuums, wet and dry vacuums, and cordless stick vacuums. Consumers can visit MOVA's official website to access detailed information about warranty coverage and specific plans available in their areas.

MOVA's participation in CES 2025 reflects its commitment to harnessing innovative technologies to improve user experiences in cleaning and personal care. By merging functionality with smart design, MOVA is set to transform the landscape of household appliances, paving the way for a more connected and efficient future.

About MOVA

MOVA is a global innovative smart appliance brand that advocates "leading innovation, connecting technology with daily life." It is dedicated to creating new intelligent living spaces for families worldwide through continuous technological breakthroughs, exploring future home living styles.

Follow us on Facebook, Instagram, and Twitter. For more information, please visit http://global.mova-tech.com 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

MOVA Launches Game-Changing Products at CES 2025 to Redefine Smart Living

MOVA Launches Game-Changing Products at CES 2025 to Redefine Smart Living

MOVA Launches Game-Changing Products at CES 2025 to Redefine Smart Living

MOVA Launches Game-Changing Products at CES 2025 to Redefine Smart Living