e‑STORAGE to Deliver 426 MWh of Energy Storage in Florida

Canadian Solar (NASDAQ: CSIQ) announced that its e-STORAGE unit will supply a 95 MW/426 MWh (DC) battery energy storage system to a Florida electric utility.

Rhea-AI Summary

Canadian Solar (NASDAQ: CSIQ) announced that its e-STORAGE unit will supply a 95 MW/426 MWh (DC) battery energy storage system to a Florida electric utility. Installation is planned for the second half of 2027, with commercial operation targeted for early 2028.

e-STORAGE will deliver an integrated BESS using 5 MWh SolBank 3.0 battery packs, power conversion and energy management systems. The project is e-STORAGE's first in Florida and is intended to dispatch stored energy during peak demand to help lower energy costs and support grid reliability.

Positive

• Supply agreement for 95 MW/426 MWh battery storage system in Florida
• Entry into Florida market for e-STORAGE energy storage business
• Use of proprietary 5 MWh SolBank 3.0 battery packs in the project
• All battery cells produced at Canadian Solar facilities, supporting supply chain visibility
• Project designed to dispatch energy at peak demand to support utility cost management

Negative

• None.

Argus Jun 25 session

+5.61% close to close Open Argus

Details

News Market Reaction – CSIQ

On Jun 25, the day this news came out, CSIQ closed 5.61% above the previous close.

Data tracked by StockTitan Argus for the Jun 25 session.

Market Context

On Jun 25, the day this news came out, the stock closed 5.6% above the previous close. A strong posi...

Analysis

On Jun 25, the day this news came out, the stock closed 5.6% above the previous close. A strong positive reaction aligns with CSIQ’s push into large-scale storage, highlighted by a 95 MW/426 MWh Florida BESS win. With high short positioning, sharp gains could be vulnerable if sentiment or project execution weakens.

Key Figures

BESS capacity: 95 MW / 426 MWh (DC) Project installation window: Second half of 2027 Commercial operation target: Early 2028 +5 more

BESS capacity

95 MW / 426 MWh (DC)

Florida battery energy storage system supply agreement

Project installation window

Second half of 2027

Planned battery installation timeline

Commercial operation target

Early 2028

Targeted commercial operation date for Florida BESS

SolBank pack size

5 MWh

SolBank 3.0 battery pack unit capacity in integrated BESS

Share price

$14.98

Pre-news market price vs 52-week range

52-week range

$9.41 – $34.59

Stock trading significantly below 52-week high before this news

Market cap

$1,000,119,113

Pre-news equity value for Canadian Solar

Short interest

30.84% of float; 4.7 days to cover

Reported as of settlement date 2026-05-29

Historical Context

5 past events · Latest: Jun 23

5 events

1. Jun 23

   Storage partnership

   24h Move

   -8.1%

   First e-STORAGE battery project in Italy expanding European presence.

2. Jun 22

   Product launch

   24h Move

   -0.1%

   Launch of TOPCon 3.0 high-power-density PV module with higher efficiency.

3. Jun 01

   ESG report

   24h Move

   -3.7%

   Release of 2025 sustainability report outlining ESG initiatives and standards.

4. May 14

   Earnings, CEO change

   24h Move

   -11.2%

   Q1 2026 results with net loss and leadership transition to new CEO.

5. Apr 20

   Earnings call setup

   24h Move

   -0.2%

   Scheduling of Q1 2026 earnings conference call and access details.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

battery energy storage system, bess, lithium-ion phosphate, energy management system

4 terms

battery energy storage system technical

"to deliver a 95 MW/426 MWh (DC) battery energy storage system (BESS)."

A battery energy storage system is a device that stores electricity for later use, much like a rechargeable battery for a phone or laptop. It allows energy generated during times of low demand or from renewable sources to be saved and released when needed, helping to balance supply and demand. For investors, it represents a way to support reliable energy flow and capitalize on the increasing demand for flexible, clean power solutions.

bess technical

"95 MW/426 MWh (DC) battery energy storage system (BESS)."

BESS stands for Battery Energy Storage System, a technology that stores electricity for later use. Think of it as a large rechargeable battery that can hold excess power generated during times of low demand and release it when usage is high, helping balance supply and demand. This is important for investors because it supports the stability of energy grids, enables the integration of renewable sources, and can create new opportunities for profitability in the energy market.

lithium-ion phosphate technical

"powered by its lithium-Ion phosphate-based battery cells, all produced at"

A lithium-ion phosphate battery is a type of rechargeable battery that uses a phosphate-based material as the positive electrode, trading some energy density for greater safety and longer life. For investors, that matters because this chemistry tends to reduce fire risk, require fewer replacements and cut total operating costs, while influencing product weight, range and supply-chain demand much like choosing a sturdier but slightly heavier material affects a car’s performance and maintenance needs.

energy management system technical

"along with the power conversion systems and energy management system."

An energy management system is a technology that monitors, controls, and optimizes how energy is used within a building or facility. Think of it as a smart thermostat that helps save energy and reduce costs by making sure electricity, heating, and cooling are used efficiently. For investors, it matters because it can lower expenses, improve sustainability, and support long-term value in organizations focused on energy efficiency.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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KITCHENER, ON, June 25, 2026 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, its energy storage solutions business, has entered into a supply agreement with an electric utility in Florida to deliver a 95 MW/426 MWh (DC) battery energy storage system (BESS). The battery installation is planned for the second half of 2027, with commercial operation targeted for early 2028. e-STORAGE will provide its proprietary 'SolBank' battery pack powered by its lithium-Ion phosphate-based battery cells, all produced at Canadian Solar's manufacturing facilities, giving the customer full supply chain visibility and compliance.

Under the agreement, e-STORAGE will deliver a complete, integrated BESS solution, combining 5 MWh SolBank 3.0 battery packs, along with the power conversion systems and energy management system. Once operational, the 426 MWh project will dispatch stored energy during peak demand periods, helping the utility lower energy costs. The project marks e-STORAGE's entry into Florida — a market where rapid solar growth and rising seasonal peak demands are making large-scale storage central to grid reliability.

Jeff Roy, President of e-STORAGE, said: "Florida is one of the fastest-growing storage markets in the U.S., and we're glad to support our customer with capacity at this scale. The project deepens e-STORAGE's presence in a strategically important market and further demonstrates e-STORAGE's capabilities in delivering fully integrated energy storage solutions for demanding power management applications."

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 — delivering solar, storage, system integration and long-term operation under a single accountable partner. Over the past 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. In North America, Canadian Solar operates local manufacturing to meet tariff and compliance requirements and safeguard on-schedule project delivery. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 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 systems (BESS) spanning battery cells, battery PACKs, power conversion systems (PCS), energy management systems (EMS) and system integration. It also provides comprehensive EPC services and full-lifecycle station operation and asset management, helping customers improve grid operations across the project lifecycle. 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, 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 10, 2026. 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
media@csestorage.com 

View original content:https://www.prnewswire.com/news-releases/estorage-to-deliver-426-mwh-of-energy-storage-in-florida-302809049.html

SOURCE Canadian Solar Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Canadian Solar (NASDAQ: CSIQ) announce about its e-STORAGE business on June 25, 2026?

Canadian Solar announced that e-STORAGE will supply a 95 MW/426 MWh battery energy storage system to a Florida electric utility. According to Canadian Solar, the integrated solution includes SolBank 3.0 battery packs, power conversion systems and an energy management system, targeting operation in early 2028.

How large is the e-STORAGE battery project in Florida for Canadian Solar (CSIQ)?

The Florida battery project is specified at 95 MW/426 MWh (DC) of energy storage capacity. According to Canadian Solar, e-STORAGE will deploy 5 MWh SolBank 3.0 battery packs as part of a complete, utility-scale BESS designed to dispatch stored energy during peak demand periods.

When will Canadian Solar's 426 MWh Florida battery storage project be installed and operational?

Installation of the Florida BESS is planned for the second half of 2027, with commercial operation targeted for early 2028. According to Canadian Solar, this schedule will bring large-scale storage online to support peak demand management and grid reliability for the participating utility.

What technology will e-STORAGE use for Canadian Solar's 426 MWh Florida project?

e-STORAGE will use its proprietary SolBank 3.0 battery packs powered by lithium-iron phosphate battery cells. According to Canadian Solar, these cells are produced at its facilities, providing full supply chain visibility and compliance for the integrated system that includes power conversion and energy management components.

How might Canadian Solar's new Florida BESS project impact CSIQ's energy storage strategy?

The Florida BESS project represents e-STORAGE's entry into the Florida market and expands its U.S. footprint. According to Canadian Solar, the project deepens presence in a strategically important region where rapid solar growth and rising peak demand increase the need for large-scale storage.

How will the 426 MWh Florida energy storage system help the local utility and grid?

The 426 MWh system is intended to dispatch stored energy during peak demand, supporting cost and reliability goals. According to Canadian Solar, delivering a fully integrated BESS aims to help the utility lower energy costs and address seasonal peak demand pressures on the Florida grid.