e-STORAGE to Deliver 1.86 GWh DC of Energy Storage Solutions for the Skyview 2 Project in Ontario, Canada

Rhea-AI Summary

Canadian Solar (NASDAQ: CSIQ) announced that its e-STORAGE unit, part of majority-owned CSI Solar, will provide a fully integrated energy storage system and turnkey EPC services for the Skyview 2 project in Edwardsburgh Cardinal, Ontario.

Key facts:

• Capacity: 411 MW / 1,858 MWh
• Hardware: ~390 SolBank 3.0 units
• Shipments begin: February 2026
• Commercial operation targeted: Q2 2027
• Contract term: 21-year LTSA
• Developer: Potentia Renewables with Algonquins of Pikwàkanagàn First Nation

e-STORAGE will supply system integration, substation and balance-of-plant works and transmission interconnection (excluding high-voltage transformer and HV switchgear). The project builds on e-STORAGE's 8 GWh deployed in North America and is described as one of Canada’s largest battery storage projects upon completion.

Positive

• Scale: 411 MW / 1,858 MWh contracted
• Long-term revenue visibility: 21-year LTSA included
• Large hardware order: ~390 SolBank 3.0 units
• Deployment experience: Builds on 8 GWh deployed in North America
• Clear schedule: shipments from February 2026; commercial operation targeted Q2 2027

Negative

• None.

Insights

Energy storage project delivery analyst

Large turnkey contract for a 1,858 MWh project strengthens e‑STORAGE's project backlog and regional execution record.

e‑STORAGE, a unit of CSI Solar, will supply ~390 SolBank 3.0 units and provide turnkey EPC plus a 21‑year LTSA for the 411 MW/1,858 MWh Skyview 2 project in Ontario, with shipments starting in February 2026 and commercial operation targeted for Q2 2027.

The business mechanism is straightforward: equipment supply, EPC works (excluding the high‑voltage transformer and HV switchgear) and a long‑term service contract create multi‑year revenue streams tied to delivery and post‑installation performance. The announced 21‑year LTSA and defined shipment and commercial dates make the contract scope and timing actionable and monitorable.

Dependencies and risks are clear and limited to the facts disclosed: timely shipments beginning February 2026, successful system integration and interconnection to the existing grid, and execution of the specified EPC scope. The exclusion of the high‑voltage transformer and HV switchgear implies coordination with other suppliers or the grid owner for final system completion.

Watchable, concrete items and horizon: shipment commencement in February 2026, major construction milestones through Q2 2027 commercial operation, and adherence to the 21‑year LTSA after commissioning. Also track e‑STORAGE’s stated regional deployments (noted as 8 GWh across North America) as context for execution capacity over the next 12–18 months.

KITCHENER, ON, Nov. 12, 2025 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has been contracted to provide a fully integrated energy storage solution and turnkey Engineering, Procurement, and Construction (EPC) services for the 411 MW/1,858 MWh Skyview 2 Energy Storage Project in Edwardsburgh Cardinal, Ontario, Canada.

The project, developed by Potentia Renewables Inc. ("Potentia") in collaboration with the Algonquins of Pikwàkanagàn First Nation, was awarded under Ontario's Long-Term Reliability (LT1) energy storage procurement process.

As the turnkey EPC provider, e-STORAGE will deliver approximately 390 units of its proprietary SolBank 3.0 energy storage solution for the project. Shipments are expected to begin in February 2026, with commercial operation planned for the second quarter of 2027. e-STORAGE will also provide system integration, substation and balance-of-plant works (excluding the high-voltage transformer and HV switchgear), as well as the transmission line interconnection to the existing grid infrastructure. Additionally, e-STORAGE will provide a 21-year Long-Term Agreement (LTSA) to ensure long-term system performance and reliability.

With 8 GWh of energy storage projects deployed across North America, e-STORAGE continues to strengthen its execution track record and regional presence. Skyview 2 builds on this momentum and reinforces e-STORAGE's full-stack delivery capability across the storage project lifecycle.

Ben Greenhouse, CEO, Potentia, said: "The Skyview 2 Energy Storage Project represents a major milestone for both Ontario and Potentia, marking the province's largest battery energy storage project to date. Together with the Algonquins of Pikwàkanagàn First Nation and our partners at Canadian Solar and e-STORAGE, we're proud to advance innovative, dependable, and affordable energy solutions that enhance grid reliability and deliver lasting value to local communities."

Colin Parkin, President of e-STORAGE, said: "The Skyview project, our largest SolBank delivery contract to date, is set to become one of Canada's largest battery energy storage facilities upon completion. This project is a strong validation of our full-stack delivery model, which combines our proprietary SolBank technology with turnkey EPC execution to deliver bankable, grid-ready energy storage infrastructure at scale. We are proud to support Potentia and the Province of Ontario in advancing this project in collaboration with the Algonquins of Pikwàkanagàn First Nation, reflecting our commitment to responsible development and long-term community participation. This project will reinforce grid reliability and accelerate Canada's clean energy transition."

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 165 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 13 GWh of battery energy storage solutions to global markets as of June 30, 2025, boasting a $3 billion contracted backlog as of June 30, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 80 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 fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 10 GWh and battery cell capacity of 3 GWh. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

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 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 

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SOURCE Canadian Solar Inc.

FAQ

What capacity will Skyview 2 provide and which company will deliver it (CSIQ)?

Skyview 2 is a 411 MW / 1,858 MWh energy storage project to be delivered by e-STORAGE, part of CSI Solar under Canadian Solar (CSIQ).

When will e-STORAGE begin shipments and when is Skyview 2 expected to start commercial operation (CSIQ)?

Shipments are expected to begin in February 2026 and commercial operation is planned for Q2 2027.

How many SolBank units will e-STORAGE supply for Skyview 2 (CSIQ)?

e-STORAGE will deliver approximately 390 SolBank 3.0 energy storage units for the project.

Does the Skyview 2 contract include long-term service commitments (CSIQ)?

Yes. e-STORAGE will provide a 21-year Long-Term Service Agreement (LTSA) to support system performance and reliability.

Who is developing Skyview 2 and are there local partnerships (CSIQ)?

Potentia Renewables is the developer, collaborating with the Algonquins of Pikwàkanagàn First Nation.

What scope is excluded from e-STORAGE's EPC work for Skyview 2 (CSIQ)?

The EPC scope excludes the high-voltage transformer and HV switchgear, which are not supplied by e-STORAGE.