Canadian Solar unit inks battery storage framework agreement with China's CATL

CSI Solar, a unit of Canadian Solar Inc (NASDAQ:CSIQ), has signed a strategic cooperation framework agreement with Chinese battery maker Contemporary Amperex Technology Co Ltd (SHE:300750), also known as CATL.

Under the agreement, CSI Solar and CATL are to establish “a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology”, Canadian Solar said this week.

By teaming up with CATL, the Canadian solar technology group will have the support to rapidly grow its battery storage business, according to the announcement.

“The partnership leverages CATL's innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers,” Canadian Solar CEO Shawn Qu commented.

“We now have a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction. Our common goal is to use solar and battery storage technology to support a cleaner, smarter and more reliable global grid, and do our part in contributing to the acceleration of the clean energy transition”. Qu added.

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