Canadian Solar Wins Major Australia Battery Contract

Canadian Solar Inc. (NASDAQ:CSIQ) is advancing its position in Australia’s energy storage market with a new large-scale battery contract in South Australia.

The company announced that its e-STORAGE division, operating under its majority-owned subsidiary CSI Solar Co., Ltd., will supply a 408 megawatt-hour battery energy storage system to Vena Energy for the Tailem Bend 3 project in South Australia.

The installation will provide 204 MW of capacity via nearly 100 SolBank 3.0 battery containers. Under construction in Tailem Bend, operations are set to begin in 2027.

Also Read: Why Canadian Solar’s Stock Is Soaring Despite Posting Another Quarterly Loss

Through a five-year service agreement, e-STORAGE will maintain the battery system, supporting reliable performance after commissioning.

The Tailem Bend 3 battery will enhance grid stability in South Australia, which relies heavily on wind and solar energy. Large-scale storage is crucial for balancing supply and demand as renewable energy sources increase.

Vena Energy’s Australia head, Owen Sela, called the project another step in expanding grid-supporting storage. e-STORAGE President Colin Parkin said the deal grows the company’s Australian portfolio of utility-scale battery systems.

Investor attention around Canadian Solar has recently increased as shares surged on company-specific catalysts. Battery storage projects are seen as a major growth engine, alongside peers Tesla Inc. (NASDAQ:TSLA) and NextEra Energy Inc. (NYSE:NEE).

CSIQ Price Action: Canadian Solar shares were up 5.92% at $24.59 at the time of publication on Wednesday, according to Benzinga Pro data.

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