Canadian Solar wins 100 MWh energy storage EPC contracts in U.K.
Canadian Solar (NASDAQ:CSIQ) said Monday it has entered the utility scale energy storage market in the United Kingdom after signing deals to provide integrated energy storage systems, and engineering, procurement and construction services for four battery storage projects by Pulse Clean Energy.
In addition to providing the battery storage systems and construction services, Canadian Solar (CSIQ) said it will maintain and operate the 100 MWh projects via a 10-year long-term service agreement.
As of January 31, Canadian Solar's (CSIQ) energy storage portfolio includes 300 MWh of projects under a long-term service agreement, 2,043 MWh of projects under construction and a remaining pipeline of more than 4 GWh.
Canadian Solar (CSIQ) shares -6.9%, one of many solar stocks including Enphase Energy (ENPH), SunPower (SPWR) and First Solar (FSLR) trading are lower across the board, -8.4%, -8.8% and -4.4% respectively, part of Monday's broad stock market selloff.