e-STORAGE to Supply 381 MWh Battery Storage System for Apex Clean Energy in Michigan

KITCHENER, ON, June 24, 2026 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, its energy storage solutions business, will supply a 75 MW / 381 MWh DC battery energy storage system (BESS) to Apex Clean Energy in Branch County, Michigan. The system will be co-located with Apex's operating Coldwater Solar facility.

Under the agreement, e-STORAGE will deliver a complete, integrated solution that combines SolBank 3.0 battery blocks with Power Conversion Systems and e-STORAGE's proprietary EQ‑S Energy Management System into one coordinated utility‑scale platform. Deliveries are scheduled to begin in early 2027, with commercial operation targeted for mid-2027. e-STORAGE will provide its proprietary 'SolBank' battery pack powered by its lithium-Ion phosphate-based battery cells, all produced at Canadian Solar's manufacturing facilities, giving the customer full supply chain visibility and compliance.

Coldwater Storage enters service against a firm policy backdrop: Michigan law requires utilities to bring 2,500 MW of energy storage online by 2030, and the state's largest coal units are slated to retire through 2032, removing dispatchable capacity from the MISO grid that storage must replace. Once operational, the project will store low‑cost energy and discharge it when demand peaks, helping firm the supply that Michigan is shifting toward solar and wind.

Ken Young, CEO of Apex, said: "Power demand is rising rapidly, and storage projects like Coldwater enable our grid to keep pace. e-STORAGE has the technology and the scale to deliver this project, and we're glad to be working once again with our partners at Canadian Solar."

Jeff Roy, President of e-STORAGE, said: "Michigan is rebuilding its power generation mix on a fixed timeline, and this collaboration shows how that target turns into reliable capacity on the ground. By supplying the batteries, power conversion, and our EQ-S controls as one integrated system, we serve as Apex's single accountable technology partner across the project's lifecycle."

About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

About e-STORAGE
e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
[email protected] 

e-STORAGE MEDIA CONTACT
[email protected] 

View original content:https://www.prnewswire.com/news-releases/e-storage-to-supply-381-mwh-battery-storage-system-for-apex-clean-energy-in-michigan-302808539.html

SOURCE Canadian Solar Inc.