e-STORAGE and Sunraycer Announce 503 MWh Battery Energy Storage Projects in Texas
Rhea-AI Summary
Canadian Solar (NASDAQ: CSIQ) announced that e-STORAGE and Sunraycer agreed to supply and service two standalone battery energy storage projects in Franklin County, Texas totaling 503 MWh DC (Lupinus 1: 202 MWh; Lupinus 2: 301 MWh).
Construction and commercial operation timelines span Q3 2026–Q3 2027, include 10 years of long-term services, SolBank 3.0 systems, and battery cells from Canadian Solar's global manufacturing network, targeting ERCOT grid stability and renewable integration.
Positive
- 503 MWh DC total battery capacity across two projects
- Lupinus 1: 202 MWh expected construction start Q1 2027 and commercial operation Q3 2027
- Lupinus 2: 301 MWh scheduled construction start Q3 2026 and commercial operation Q2 2027
- 10 years of long-term services committed for reliability and performance
- Use of SolBank 3.0 with cells from Canadian Solar's global manufacturing network
Negative
- None.
News Market Reaction
On the day this news was published, CSIQ declined 8.22%, reflecting a notable negative market reaction. Argus tracked a trough of -8.5% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $124M from the company's valuation, bringing the market cap to $1.38B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peer moves are mixed: ENPH up 7.65%, TOYO up 7.47%, while JKS fell 4.61% and SHLS slipped 1.26%. Momentum scanner only flagged TOYO moving down earlier, suggesting stock-specific rather than broad solar-sector momentum.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 13 | Convertible notes closing | Neutral | +8.5% | Closed US$230M 3.25% convertible senior notes due 2031, net US$223.1M. |
| Jan 09 | Convertible notes pricing | Neutral | -0.1% | Priced US$200M 2031 convertibles with option for extra US$30M at 3.25%. |
| Jan 07 | Proposed notes offering | Neutral | -6.2% | Announced proposed US$200M 2031 convertible notes for manufacturing, storage, solar. |
| Dec 24 | Leadership changes | Positive | +1.8% | Appointed Colin Parkin as President and Dylan Marx as COO to support expansion. |
| Dec 17 | Storage project win | Positive | +0.5% | e‑STORAGE to deliver 204 MW / 408 MWh BESS EPC project in South Australia. |
Recent news, including convertible note offerings and storage project wins, has typically coincided with modestly positive or limited share-price reactions, with no consistent pattern of sharp selloffs on announcements.
Over the past few months, Canadian Solar reported multiple financing and operational milestones. In January 2026, it proposed, priced, and then closed convertible senior notes due 2031, raising around US$230 million and seeing mixed but generally contained price moves. Leadership changes in December 2025 brought Colin Parkin in as President and Dylan Marx as COO, with a small positive reaction. e‑STORAGE also secured a 204 MW / 408 MWh Australian BESS EPC project. The new 503 MWh Texas projects extend this ongoing storage-focused strategy.
Market Pulse Summary
The stock moved -8.2% in the session following this news. A negative reaction despite growth-focused storage news would fit a pattern where financing and strategic updates have not always driven sustained gains. The Lupinus projects add 503 MWh to the storage pipeline, but concerns around execution timelines, prior net losses, or recent convertible issuance could overshadow the headline. History of only modest reactions suggests sharp downside might reflect broader risk sentiment rather than this announcement alone.
Key Terms
battery energy storage technical
ercot technical
AI-generated analysis. Not financial advice.
The projects, collectively referred to as the Lupinus projects, are being developed by Sunraycer. They comprise Lupinus 1, a 202 MWh facility expected to begin construction in Q1 2027 and reach commercial operation in Q3 2027, and Lupinus 2, a 301 MWh facility scheduled to start construction in Q3 2026 and achieve commercial operation in Q2 2027.
Under the agreements, e-STORAGE will deliver its SolBank 3.0 battery energy storage system and provide 10 years of long-term services, supporting system reliability, performance optimization, and availability throughout the project lifecycle. The battery cells integrated into SolBank 3.0 are manufactured within Canadian Solar's global manufacturing network, reinforcing supply chain resilience and long-term operational reliability at scale.
The Lupinus projects will play a vital role in supporting renewable energy integration and enhancing grid stability within the ERCOT market, one of
David Lillefloren, CEO of Sunraycer, said: "Partnering with e-STORAGE on the Lupinus projects represents a significant step forward in Sunraycer's mission to advance sustainable energy infrastructure across
Colin Parkin, President of Canadian Solar and President of e-STORAGE, said: "We are pleased to partner with Sunraycer on the Lupinus projects in
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 Kitchener, Ontario, 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 24 years, Canadian Solar has successfully delivered nearly 170 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 16 GWh of battery energy storage solutions to global markets as of September 30, 2025, boasting a
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 fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 15 GWh and battery cell capacity of 3 GWh, on a single-shift and double-shift annualized basis, respectively. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.
About Sunraycer
Sunraycer, a Crayhill Capital Management portfolio company, is a rapidly-growing,
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales 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 "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. 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 CONTACT
marketing@csisolar.com
Sunraycer Media Inquiries
Jake Forrestal
Prosek Partners
pro-crayhill@prosek.com
View original content:https://www.prnewswire.com/news-releases/e-storage-and-sunraycer-announce-503-mwh-battery-energy-storage-projects-in-texas-302680281.html
SOURCE Canadian Solar Inc.
FAQ
What is the total capacity of the Lupinus battery projects announced by Canadian Solar (CSIQ)?
When will construction and commercial operation occur for CSIQ's Lupinus 1 and Lupinus 2 projects?
What equipment and services will e-STORAGE provide for the CSIQ Lupinus projects?
How do the Lupinus projects affect ERCOT and renewable integration according to CSIQ?
Are the battery cells for CSIQ's SolBank 3.0 sourced from Canadian Solar's own manufacturing?
