Canadian Solar Launches First Battery Storage System in Japan
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy CSIQ?
Source: PRnewswire
- Market Debut: Canadian Solar's e-STORAGE business has successfully delivered its first grid-connected battery energy storage system in Japan, with a rated output of 2 MW and an energy capacity of 8.25 MWh DC, marking the company's initial product deployment in the Japanese market and demonstrating its long-term commitment to the region.
- Project Background: Developed by Canadian Solar Projects K.K., the facility is located adjacent to the Naebo substation in Sapporo City, Hokkaido, and was awarded as part of Hokkaido Electric Power Network Company's 2023 public land leasing initiative, enhancing grid flexibility and renewable energy integration in the area.
- Technical Advantages: The battery energy storage system is built on e-STORAGE's SolBank platform and is designed to participate in both the Japan Electric Power Exchange (JEPX) and the Balancing Market (EPRX), which not only enhances market stability but also supports future renewable energy projects.
- Long-term Maintenance Commitment: e-STORAGE is responsible for the design, engineering, and commissioning of the project and will provide long-term maintenance and inspection services throughout the operational life of the battery energy storage system, ensuring compliance and efficient operation.
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Analyst Views on CSIQ
Wall Street analysts forecast CSIQ stock price to rise
7 Analyst Rating
2 Buy
1 Hold
4 Sell
Moderate Sell
Current: 19.900
Low
5.58
Averages
21.51
High
37.00
Current: 19.900
Low
5.58
Averages
21.51
High
37.00
About CSIQ
Canadian Solar Inc. is a Canada-based solar technology and renewable energy company. It is a manufacturer of solar photovoltaic modules, a provider of solar energy and battery energy storage solutions, and a developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. It operates through two segments: Recurrent Energy, and CSI Solar. The Recurrent Energy segment is vertically integrated and focuses on greenfield origination, development, financing, execution, operations and maintenance, and asset management. The CSI Solar segment consists of solar module and battery energy storage manufacturing, and delivery of total system solutions, including inverters, solar system kits, and engineering, procurement, and construction (EPC) services. It has developed, built, and connected around 10 Giga Watt peak (GWp) of solar power projects and 3.3 GWh of battery energy storage projects across the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canadian Solar Launches First Battery Storage System in Japan
- Market Debut: Canadian Solar's e-STORAGE business has successfully delivered its first grid-connected battery energy storage system in Japan, with a rated output of 2 MW and an energy capacity of 8.25 MWh DC, marking the company's initial product deployment in the Japanese market and demonstrating its long-term commitment to the region.
- Project Background: Developed by Canadian Solar Projects K.K., the facility is located adjacent to the Naebo substation in Sapporo City, Hokkaido, and was awarded as part of Hokkaido Electric Power Network Company's 2023 public land leasing initiative, enhancing grid flexibility and renewable energy integration in the area.
- Technical Advantages: The battery energy storage system is built on e-STORAGE's SolBank platform and is designed to participate in both the Japan Electric Power Exchange (JEPX) and the Balancing Market (EPRX), which not only enhances market stability but also supports future renewable energy projects.
- Long-term Maintenance Commitment: e-STORAGE is responsible for the design, engineering, and commissioning of the project and will provide long-term maintenance and inspection services throughout the operational life of the battery energy storage system, ensuring compliance and efficient operation.
See More
Canadian Solar Seeks $350 Million Loan for U.S. Expansion Amid Import Scrutiny
- Financing Initiative: Canadian Solar is seeking a $350 million private credit loan to support its U.S. expansion plans, a move aimed at addressing increasing scrutiny from Washington on imports from China, which could impact its future market share and competitiveness.
- Loan Arrangement: HSBC Holdings is arranging the proposed loan, although specific terms such as tenor and pricing are still under discussion; this financing will provide the necessary capital for the company to navigate market challenges.
- Patent Dispute Victory: Last month, Canadian Solar secured a favorable ruling from the U.S. Patent and Trademark Office's Patent Trial and Appeal Board in its patent dispute with Maxeon Solar Technologies, which will help solidify its market position in technology.
- Market Environment: Amid a slowing market, Canadian Solar faces growth pressures, and while its valuation has run ahead of fundamentals, the company is actively seeking new opportunities and financing to maintain its competitive edge.
See More
Republic Technologies Appoints New Advisor to Board
- Advisor Appointment: Republic Technologies Inc. has appointed Xinbo Zhu as Special Advisor to the Board and member of the Infrastructure and Energy Advisory Committee, aiming to enhance the company's leadership with his global experience in finance and infrastructure operations.
- Extensive Industry Experience: Currently serving as CFO of Canadian Solar Inc., Zhu brings over 20 years of executive experience focused on finance, risk, and supply chain management in capital-intensive environments, which is expected to provide strategic guidance to the company.
- Strategic Development Focus: As Special Advisor, Zhu will offer insights on capital strategy, financial discipline, and long-term growth initiatives, assisting the company in achieving scalability in Ethereum-backed digital infrastructure.
- Educational Background: Zhu holds an MBA from the Rotman School of Management at the University of Toronto and a Master of Engineering in Electronic Engineering from Shanghai Jiao Tong University, with his rich educational background and industry experience poised to support the company's future growth opportunities.
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Canadian Solar Partners with Sunraycer for 503 MWh Energy Storage Projects
- Storage Project Collaboration: Canadian Solar and Sunraycer have signed agreements to jointly develop two standalone battery storage projects totaling 503 MWh DC, which are expected to significantly enhance renewable energy integration in Texas.
- Project Timeline: The Lupinus 1 project is set to begin construction in Q1 2027 and reach commercial operation by Q3 2027, while the Lupinus 2 project will start construction in Q3 2026 and is expected to be operational by Q2 2027, ensuring timely project delivery.
- Technology and Service Assurance: e-STORAGE will deliver its SolBank 3.0 battery storage system and provide 10 years of long-term services, ensuring system reliability and performance optimization, thereby enhancing the long-term operational value of the projects.
- Market Impact and Strategic Significance: These projects will bolster grid stability in the ERCOT market, reflecting both companies' shared commitment to advancing sustainable energy infrastructure and supporting Texas's clean energy transition.
See More
Canadian Solar Partners with Sunraycer for 503 MWh Energy Storage Projects
- Project Scale and Collaboration: Canadian Solar and Sunraycer have signed agreements to jointly develop two standalone battery energy storage projects with a total capacity of 503 MWh DC, marking a significant collaboration in the clean energy sector.
- Construction Timeline: The Lupinus 1 project is set to begin construction in Q1 2027 and is expected to reach commercial operation by Q3 2027, while the Lupinus 2 project will start construction in Q3 2026 and achieve commercial operation by Q2 2027, demonstrating rapid project advancement.
- Technology and Service Assurance: e-STORAGE will deliver its SolBank 3.0 battery energy storage system and provide 10 years of long-term services, ensuring system reliability and performance optimization, thereby enhancing overall project operational efficiency.
- Market Impact and Strategic Significance: These projects will enhance grid stability within the ERCOT market, support renewable energy integration, and reflect both companies' commitment to building sustainable energy infrastructure, driving the clean energy transition in Texas.
See More
Limited Impact of Tesla's Solar Plans on First Solar, Analysts Say
- Market Performance Assessment: BMO Capital downgraded First Solar (FSLR) from 'Outperform' to 'Market Perform' with a price target cut from $285 to $263, reflecting concerns over competition from Tesla, although the market reacted mildly with FSLR shares rising 1% on Friday.
- Competition Risk Analysis: Wells Fargo believes that Tesla's solar expansion plans will have limited impact on First Solar due to its cost advantages and pricing power, while other U.S. manufacturers like Canadian Solar (CSIQ) face greater risks, indicating differing market expectations for various companies.
- Industry Feedback and Production Capacity: Mizuho analysts noted that fully U.S.-made solar modules will require significant capital investment, costing more than First Solar's average selling price, and scaling polysilicon and wafer capacity will take three to four years, suggesting that Tesla's plans are unlikely to materialize in the short term.
- Investor Sentiment and Market Reaction: Despite Tesla reiterating its 100 gigawatt solar production target at the World Economic Forum in Davos, FSLR shares fell over 10% on Thursday; however, retail sentiment on Stocktwits remained in the 'bullish' territory, reflecting confidence in the company's long-term prospects.
See More
Canadian Solar Launches First Battery Storage System in Japan
- Market Debut: Canadian Solar's e-STORAGE business has successfully delivered its first grid-connected battery energy storage system in Japan, with a rated output of 2 MW and an energy capacity of 8.25 MWh DC, marking the company's initial product deployment in the Japanese market and demonstrating its long-term commitment to the region.
- Project Background: Developed by Canadian Solar Projects K.K., the facility is located adjacent to the Naebo substation in Sapporo City, Hokkaido, and was awarded as part of Hokkaido Electric Power Network Company's 2023 public land leasing initiative, enhancing grid flexibility and renewable energy integration in the area.
- Technical Advantages: The battery energy storage system is built on e-STORAGE's SolBank platform and is designed to participate in both the Japan Electric Power Exchange (JEPX) and the Balancing Market (EPRX), which not only enhances market stability but also supports future renewable energy projects.
- Long-term Maintenance Commitment: e-STORAGE is responsible for the design, engineering, and commissioning of the project and will provide long-term maintenance and inspection services throughout the operational life of the battery energy storage system, ensuring compliance and efficient operation.
See More
Canadian Solar Seeks $350 Million Loan for U.S. Expansion Amid Import Scrutiny
- Financing Initiative: Canadian Solar is seeking a $350 million private credit loan to support its U.S. expansion plans, a move aimed at addressing increasing scrutiny from Washington on imports from China, which could impact its future market share and competitiveness.
- Loan Arrangement: HSBC Holdings is arranging the proposed loan, although specific terms such as tenor and pricing are still under discussion; this financing will provide the necessary capital for the company to navigate market challenges.
- Patent Dispute Victory: Last month, Canadian Solar secured a favorable ruling from the U.S. Patent and Trademark Office's Patent Trial and Appeal Board in its patent dispute with Maxeon Solar Technologies, which will help solidify its market position in technology.
- Market Environment: Amid a slowing market, Canadian Solar faces growth pressures, and while its valuation has run ahead of fundamentals, the company is actively seeking new opportunities and financing to maintain its competitive edge.
See More
Republic Technologies Appoints New Advisor to Board
- Advisor Appointment: Republic Technologies Inc. has appointed Xinbo Zhu as Special Advisor to the Board and member of the Infrastructure and Energy Advisory Committee, aiming to enhance the company's leadership with his global experience in finance and infrastructure operations.
- Extensive Industry Experience: Currently serving as CFO of Canadian Solar Inc., Zhu brings over 20 years of executive experience focused on finance, risk, and supply chain management in capital-intensive environments, which is expected to provide strategic guidance to the company.
- Strategic Development Focus: As Special Advisor, Zhu will offer insights on capital strategy, financial discipline, and long-term growth initiatives, assisting the company in achieving scalability in Ethereum-backed digital infrastructure.
- Educational Background: Zhu holds an MBA from the Rotman School of Management at the University of Toronto and a Master of Engineering in Electronic Engineering from Shanghai Jiao Tong University, with his rich educational background and industry experience poised to support the company's future growth opportunities.
See More
Canadian Solar Partners with Sunraycer for 503 MWh Energy Storage Projects
- Storage Project Collaboration: Canadian Solar and Sunraycer have signed agreements to jointly develop two standalone battery storage projects totaling 503 MWh DC, which are expected to significantly enhance renewable energy integration in Texas.
- Project Timeline: The Lupinus 1 project is set to begin construction in Q1 2027 and reach commercial operation by Q3 2027, while the Lupinus 2 project will start construction in Q3 2026 and is expected to be operational by Q2 2027, ensuring timely project delivery.
- Technology and Service Assurance: e-STORAGE will deliver its SolBank 3.0 battery storage system and provide 10 years of long-term services, ensuring system reliability and performance optimization, thereby enhancing the long-term operational value of the projects.
- Market Impact and Strategic Significance: These projects will bolster grid stability in the ERCOT market, reflecting both companies' shared commitment to advancing sustainable energy infrastructure and supporting Texas's clean energy transition.
See More
Canadian Solar Partners with Sunraycer for 503 MWh Energy Storage Projects
- Project Scale and Collaboration: Canadian Solar and Sunraycer have signed agreements to jointly develop two standalone battery energy storage projects with a total capacity of 503 MWh DC, marking a significant collaboration in the clean energy sector.
- Construction Timeline: The Lupinus 1 project is set to begin construction in Q1 2027 and is expected to reach commercial operation by Q3 2027, while the Lupinus 2 project will start construction in Q3 2026 and achieve commercial operation by Q2 2027, demonstrating rapid project advancement.
- Technology and Service Assurance: e-STORAGE will deliver its SolBank 3.0 battery energy storage system and provide 10 years of long-term services, ensuring system reliability and performance optimization, thereby enhancing overall project operational efficiency.
- Market Impact and Strategic Significance: These projects will enhance grid stability within the ERCOT market, support renewable energy integration, and reflect both companies' commitment to building sustainable energy infrastructure, driving the clean energy transition in Texas.
See More
Limited Impact of Tesla's Solar Plans on First Solar, Analysts Say
- Market Performance Assessment: BMO Capital downgraded First Solar (FSLR) from 'Outperform' to 'Market Perform' with a price target cut from $285 to $263, reflecting concerns over competition from Tesla, although the market reacted mildly with FSLR shares rising 1% on Friday.
- Competition Risk Analysis: Wells Fargo believes that Tesla's solar expansion plans will have limited impact on First Solar due to its cost advantages and pricing power, while other U.S. manufacturers like Canadian Solar (CSIQ) face greater risks, indicating differing market expectations for various companies.
- Industry Feedback and Production Capacity: Mizuho analysts noted that fully U.S.-made solar modules will require significant capital investment, costing more than First Solar's average selling price, and scaling polysilicon and wafer capacity will take three to four years, suggesting that Tesla's plans are unlikely to materialize in the short term.
- Investor Sentiment and Market Reaction: Despite Tesla reiterating its 100 gigawatt solar production target at the World Economic Forum in Davos, FSLR shares fell over 10% on Thursday; however, retail sentiment on Stocktwits remained in the 'bullish' territory, reflecting confidence in the company's long-term prospects.
See More
