KITCHENER, ON , March 31, 2026 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, its energy storage solutions business, will deliver a total of 420 MWh AC of battery energy storage systems for Drax Group ("Drax"), a leading UK renewable energy company, across two projects in the United Kingdom.

The projects include a 60 MW / 120 MWh AC installation in Marfleet, England, and a 150 MW / 300 MWh AC installation in Neilston, Scotland. Both projects are being developed by Apatura, a UK energy infrastructure company specializing in large-scale battery storage and enabling digital infrastructure. The projects have been acquired by Drax and will become part of Drax's FlexGen portfolio. Battery installations are scheduled to commence in the third quarter of 2026 at the Marfleet site, with the Neilston project expected to start installations in early 2027.

Under the agreements, e-STORAGE will supply a fully integrated and commissioned battery energy storage system, including its SolBank 3.0 energy storage batteries. e-STORAGE will also provide operational services for the project under a long-term service agreement (LTSA) covering monitoring, preventative maintenance, and performance analytics.

The combined system supply and long-term service support are designed to ensure consistent operational availability across the lifecycle of the asset. When operational, the systems will enhance grid flexibility in the region and support the integration of additional renewable generation into the UK electricity system.

Lee Dawes, Chief Operations Officer of Drax Group, said, "We are looking forward to working with e-STORAGE and Apatura on the development of these battery storage assets. This is our first investment in short-duration storage, and these assets will complement our existing generation portfolio. As the UK network increases its reliance on intermittent renewables, these batteries will provide secure power and help keep the lights on when the wind isn't blowing and the sun isn't shining."

Giles Hanglin, Chief Executive Officer of Apatura, stated, "Marfleet and Neilston represent important milestones in building the flexible, resilient energy infrastructure the UK needs to meet its decarbonization ambitions. By combining our development expertise with e-STORAGE's technology and Drax's operational capability, we are delivering assets that strengthen grid security and enable more renewable power to flow onto the system."

Colin Parkin, President of Canadian Solar and President of e-STORAGE, added, "This collaboration with Drax and Apatura reflects our shared commitment to advancing a more flexible and resilient energy system in the UK. Leveraging the strong foundation and operational expertise we have established in this market, we are dedicated to delivering reliable system performance and service excellence to customers across Europe."

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 over 174 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 18 GWh of battery energy storage solutions to global markets as of December 31, 2025, boasting a $3.6 billion contracted backlog as of March 13, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6.2 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 83 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. Currently, e-STORAGE operates fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 15 GWh and battery cell capacity of 3 GWh, on a single-shift and double-shift annualized basis, respectively. 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 30, 2025. 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.
investor@canadiansolar.com

e-STORAGE MEDIA CONTACT
media@csestorage.com

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SOURCE Canadian Solar Inc.