e-STORAGE to Supply 381 MWh Battery Storage System for Apex Clean Energy in Michigan

Rhea-AI Summary

Canadian Solar (NASDAQ: CSIQ) announced that its e‑STORAGE business will supply a 75 MW / 381 MWh DC battery energy storage system to Apex Clean Energy in Branch County, Michigan, co-located with the Coldwater Solar facility.

Deliveries start in early 2027 with commercial operation targeted for mid‑2027, using SolBank 3.0 batteries, power conversion systems, and the EQ‑S energy management platform as a single integrated solution.

Positive

• Supply of 75 MW / 381 MWh battery storage system to Apex Clean Energy
• Project deliveries scheduled to begin in early 2027 with mid‑2027 operation target
• Use of SolBank 3.0 batteries and EQ‑S energy management as integrated platform
• Batteries produced at Canadian Solar facilities, supporting supply chain visibility and compliance
• Project aligned with Michigan’s 2,500 MW storage requirement by 2030 and coal retirements through 2032

Negative

• None.

News Market Reaction – CSIQ

+1.70%

8 alerts

+1.70% Session close to close

+2.9% Peak in 24 hr 5 min

$1.08B Market Cap

0.1x Rel. Volume

In the Jun 24 session, CSIQ gained 1.70%, reflecting a mild positive market reaction. Argus tracked a peak move of +2.9% during that session. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands e-STORAGE with a 75 MW/381 MWh project in Michigan, directly leveraged to ...

Analysis

This announcement expands e-STORAGE with a 75 MW/381 MWh project in Michigan, directly leveraged to the state’s 2,500 MW storage mandate. Investors may track project execution into 2027 and how storage growth offsets past losses and insider net selling.

Key Figures

Battery storage capacity: 381 MWh Battery power rating: 75 MW State storage mandate: 2,500 MW +5 more

8 metrics

Battery storage capacity 381 MWh Coldwater Storage project DC BESS supplied to Apex Clean Energy in Michigan

Battery power rating 75 MW Coldwater Storage project DC BESS co-located with Coldwater Solar

State storage mandate 2,500 MW Michigan law requirement for energy storage online by 2030

Mandate deadline 2030 Timeline for Michigan utilities to meet 2,500 MW storage requirement

Coal retirement window through 2032 Largest Michigan coal units scheduled retirement from MISO grid

Delivery start early 2027 Scheduled start of e-STORAGE deliveries for the Coldwater project

Commercial operation mid-2027 Targeted commercial operation date for Coldwater Storage project

Pre-news price move -8.05% CSIQ 24h price change before this announcement

Historical Context

5 past events · Latest: Jun 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 23	Storage partnership	Positive	-8.1%	e-STORAGE’s first Italian BESS project with Axpo, expanding European presence.
Jun 22	Product launch	Positive	-0.1%	Launch of TOPCon 3.0 high-power-density PV module with higher efficiency and yield.
Jun 01	Sustainability report	Neutral	-3.7%	Release of 2025 ESG report aligned with SASB, GRI and IFRS-ISSB standards.
May 14	Earnings and CEO	Negative	-11.2%	Q1 2026 results with net loss and CEO transition announcement.
Apr 20	Earnings call setup	Neutral	-0.2%	Scheduling of Q1 2026 earnings conference call and access details for investors.

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

Pattern Detected

Recent news for CSIQ has consistently been followed by negative price reactions, even on seemingly positive operational updates.

Key Terms

battery energy storage system (bess), power conversion systems, energy management system, lithium-ion phosphate-based, +1 more

5 terms

battery energy storage system (bess) technical

"will supply a 75 MW / 381 MWh DC battery energy storage system (BESS) to Apex"

A battery energy storage system (BESS) is a large-scale setup that stores electricity in rechargeable batteries and releases it when needed, like a giant rechargeable battery for the power grid. It matters to investors because it helps smooth out supply and demand, capture surplus renewable power, provide backup and short-term grid services that can earn recurring revenue, and can boost the value of generation and transmission assets as demand for flexible energy grows.

power conversion systems technical

"combines SolBank 3.0 battery blocks with Power Conversion Systems and e-STORAGE's proprietary"

Power conversion systems are the equipment that change electricity from one form to another—for example converting alternating current to direct current, changing voltage or smoothing irregular supply—so devices and grids can use it safely and efficiently. Like a gearbox or language translator for electricity, their efficiency, reliability and cost affect operating expenses, product performance and revenue potential, making them a key factor for investors evaluating energy, industrial and technology businesses.

energy management system technical

"with Power Conversion Systems and e-STORAGE's proprietary EQ‑S Energy Management System into one"

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.

lithium-ion phosphate-based technical

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

A lithium-ion phosphate-based battery uses a lithium-ion chemistry with a phosphate-containing cathode material (commonly called LFP) that stores and releases electrical energy. It matters to investors because this chemistry tends to be safer, longer-lasting, and cheaper to manufacture than some alternatives, though it usually holds slightly less energy by weight — like choosing a very reliable, fuel-efficient car over a high-performance sports model.

miso grid technical

"removing dispatchable capacity from the MISO grid that storage must replace."

The MISO grid is the large regional electricity network run by the Midcontinent Independent System Operator, which coordinates power flow and markets across many utilities, generators and transmission lines like an air traffic controller for electricity. Investors care because MISO’s decisions on who can sell power, how transmission is used, and how outages are managed influence energy company revenues, wholesale power prices, and the costs and reliability risks for businesses and consumers in the region.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

KITCHENER, ON, June 24, 2026 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, its energy storage solutions business, will supply a 75 MW / 381 MWh DC battery energy storage system (BESS) to Apex Clean Energy in Branch County, Michigan. The system will be co-located with Apex's operating Coldwater Solar facility.

Under the agreement, e-STORAGE will deliver a complete, integrated solution that combines SolBank 3.0 battery blocks with Power Conversion Systems and e-STORAGE's proprietary EQ‑S Energy Management System into one coordinated utility‑scale platform. Deliveries are scheduled to begin in early 2027, with commercial operation targeted for mid-2027. 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.

Coldwater Storage enters service against a firm policy backdrop: Michigan law requires utilities to bring 2,500 MW of energy storage online by 2030, and the state's largest coal units are slated to retire through 2032, removing dispatchable capacity from the MISO grid that storage must replace. Once operational, the project will store low‑cost energy and discharge it when demand peaks, helping firm the supply that Michigan is shifting toward solar and wind.

Ken Young, CEO of Apex, said: "Power demand is rising rapidly, and storage projects like Coldwater enable our grid to keep pace. e-STORAGE has the technology and the scale to deliver this project, and we're glad to be working once again with our partners at Canadian Solar."

Jeff Roy, President of e-STORAGE, said: "Michigan is rebuilding its power generation mix on a fixed timeline, and this collaboration shows how that target turns into reliable capacity on the ground. By supplying the batteries, power conversion, and our EQ-S controls as one integrated system, we serve as Apex's single accountable technology partner across the project's lifecycle."

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 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. 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 solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. 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/e-storage-to-supply-381-mwh-battery-storage-system-for-apex-clean-energy-in-michigan-302808539.html

SOURCE Canadian Solar Inc.

FAQ

What did Canadian Solar (NASDAQ: CSIQ) announce about the Apex Clean Energy project in Michigan?

Canadian Solar announced its e‑STORAGE unit will supply a 75 MW / 381 MWh battery energy storage system for Apex Clean Energy’s Coldwater Storage project in Branch County, Michigan. According to Canadian Solar, the system will be co‑located with the operating Coldwater Solar facility.

What is the size and configuration of the e‑STORAGE battery system for Apex Clean Energy?

The e‑STORAGE system is rated at 75 MW / 381 MWh DC. According to Canadian Solar, it combines SolBank 3.0 battery blocks, power conversion systems, and the EQ‑S energy management system into one coordinated, utility‑scale storage platform serving the Coldwater Storage project.

When will the Canadian Solar e‑STORAGE system for Apex’s Coldwater Storage begin deliveries and operations?

Deliveries are scheduled to begin in early 2027, with commercial operation targeted for mid‑2027. According to Canadian Solar, this timeline positions the Coldwater Storage project to support Michigan’s evolving grid as coal units retire and more solar and wind capacity is added.

How does the Apex Coldwater Storage project with Canadian Solar support Michigan’s energy policy goals?

The project helps address Michigan’s requirement for 2,500 MW of energy storage by 2030. According to Canadian Solar, Coldwater Storage will store low‑cost energy and discharge during peak demand, supporting grid reliability as the state retires major coal units through 2032.

What technologies from Canadian Solar’s e‑STORAGE business are used in the Apex Clean Energy project?

The project uses SolBank 3.0 battery blocks, power conversion systems, and the EQ‑S energy management system. According to Canadian Solar, SolBank battery packs use lithium‑ion phosphate-based cells manufactured in its facilities, providing supply chain visibility and compliance for Apex.

What is the strategic importance of the Coldwater Storage collaboration for Canadian Solar shareholders?

The collaboration showcases deployment of Canadian Solar’s integrated storage platform in a policy-driven U.S. market. According to Canadian Solar, serving as Apex’s single technology partner across the project lifecycle may reinforce e‑STORAGE’s position in large utility‑scale storage deployments.