Canadian Solar said that its CSI Solar business unit signed a framework agreement with Contemporary Amperex Technology Co. (CATL) to cooperate in the areas of battery storage systems, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.
Canadian Solar said it has a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction. Through the first three quarters of 2021, the company said it delivered around 550 MWh of battery storage shipments.
In its third quarter earnings statement, the company said that energy storage market growth is being driven by technology improvements, falling battery storage costs, rising penetration of renewable energy, and accelerating retirements of fossil fuel capacity.
CSI Solar said its approach is to pair battery energy storage systems with long-term service agreements, including future battery capacity upgrades.
In a statement announcing the framework agreement, Tan Libin, CATL’s vice president, said that his company’s competitive advantage rests on delivering batteries across various applications, while Canadian Solar is “one of the key players” in the global battery energy storage business. “Our partnership with Canadian Solar is a perfect match and allows us to build on both our strengths,” the statement said.
