Canadian Solar's Subsidiaries, CSI Energy Storage Launches the SolBank Product for Utility-Scale Applications and Announces 10 GWh Battery Manufacturing Capacity
(the "Company" or "Canadian Solar") (NASDAQ: CSIQ)today announced that CSI Energy Storage, which is part of its majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), will launch the SolBank, a proprietary designed and manufactured energy storage battery solution for utility-scale applications.
- (the "Company" or "Canadian Solar") (NASDAQ: CSIQ)today announced that CSI Energy Storage, which is part of its majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), will launch the SolBank, a proprietary designed and manufactured energy storage battery solution for utility-scale applications.
- CSI Energy Storage also announced the expansion of its battery manufacturing capacity from the existing 2.5 GWh to 10 GWh by the end of 2023.
- The current annual battery manufacturing output capacity is 2.5 GWh and is expected to reach 10 GWh by the end of 2023.
- Our manufacturing capacity in battery storage will spur the continued growth of our battery storage solutions business, which will in turn enhance the synergies with our battery storage project development business.