OIL - Canadian Solar's e-STORAGE to Deliver Battery Energy Storage Solutions to Root-Power's Coryton Project in the UK | Benzinga
GUELPH, ON, July 18, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ:CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has been awarded a contract of 11 MW AC / 22 MWh AC energy storage solutions by Root-Power Ltd. ("Root-Power"), part of the YLEM Group. The energy storage solutions will be used for Root-Power's Coryton Energy Park project, in Corringham, Essex, England. Construction of the project started in late May 2024.
e-STORAGE and Root-Power have entered into an Energy Storage Supply Agreement and Long-Term Service Agreement. Root-Power plans to build over 1 GWh energy storage systems in the UK, over the next three to four years.
The Coryton project will employ Canadian Solar's SolBank 3.0, the Company's latest proprietary energy storage solution. SolBank 3.0 achieves over 5 MWh nominal capacity within a 20-ft container, marking a 45% increase in product-level capacity compared to the previous iteration. Certified under UL standards for safety and performance, SolBank 3.0 features high-density lithium-iron-phosphate (LFP) cells, an active balancing Battery Management System (BMS), and an innovative liquid cooling Thermal Management System (TMS).
With its superior energy density and compact design, SolBank 3.0 offers significant land cost savings, making it an economical choice for large-scale projects adapted to UK project requirements. The battery's intelligent control system and plug-and-play setup also streamline commissioning, ensuring projects are completed on time.
Neil Brooks, Managing Director of Root-Power, said: "We look forward to working with e-STORAGE to enhance the UK's grid at Coryton Energy Park, and we plan to add 150 MWh of storage capacity to our portfolio in 2024 and 2025. We selected the e-STORAGE product based on Canadian Solar's proven track record in the delivery of these systems and the Company's strong performance in ESG and supply chain management.
As the UK continues to decarbonize, energy storage will be crucial for storing renewable energy on days when it may not be as windy or sunny to meet our energy needs. We are committed to contributing to a greener, more sustainable future and growing the UK's renewable energy landscape."
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