CSI Solar signs strategic partnership agreement to focus on renewables and battery energy storage

Canadian Solar subsidiary CSI Solar has signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co. Ltd. (CATL) that will focus on energy storage and renewable energy technology.
Announced yesterday (24 November), the agreement will see the companies cooperate on battery energy storage system (BESS) solutions, the supply of lithium-ion battery modules, operation and maintenance (O&M) services of battery storage projects and “innovative renewable energy technology”.
“Global demand for battery storage is increasing dramatically under the backdrop of reaching net-zero emission goals,” said CATL vice president Tan Libin. “Our competitive advantage is on delivering highly innovative, efficient, competitive, and safe batteries across various applications, while Canadian Solar is an early mover and one of the key players in the global battery energy storage business.”
Shawn Qu, Canadian Solar’s chairman and CEO, said the partnership would “support the rapid growth of our battery storage businesses”.
“The partnership leverages CATL’s innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers,” Qu said.
Canadian Solar has a global battery storage pipeline of 21GWh, including 2.9GWh under construction, according to a company media release.
Last week, the module manufacturer announced it was halting solar cell expansions and will instead ramp up module assembly plans in response to solar cell overcapacity and high module demand.