Canadian Solar's e-STORAGE to Deliver 220 MWh DC of Battery Storage Solutions to Epic Energy's Mannum Project in South Australia

Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), will deliver 220 MWh DC of energy storage solutions to a standalone energy storage project owned by Epic Energy in Mannum, South Australia. The Mannum project is being developed by Canadian Solar through its wholly-owned subsidiary Recurrent Energy. e-STORAGE will begin construction on the Mannum project in the second quarter of 2024.

Epic Energy is one of Australia's leading energy infrastructure companies, with a gas pipeline network spanning over 1,200 kilometres and an expanding renewable energy portfolio. The Mannum storage project reflects Epic Energy's commitment to renewable energy generation and complements the existing 46 MWp of solar farm capacity at the same location, serving as a vital energy reservoir to enhance grid stability in the region.

e-STORAGE will deliver on a comprehensive Engineering, Procurement, and Construction (EPC) agreement and Long-Term Service Agreement ("LTSA"). The Mannum project will employ SolBank, a proprietary energy storage solution using robust and high-cycle capacity lithium-iron-phosphate (LFP) cells. By integrating a top-tier active balancing Battery Management System (BMS) and an exceptionally efficient Thermal Management System (TMS), e-STORAGE's SolBank ensures superior performance at the highest levels of safety.

Clive D'Cruz, Chief Executive Officer of Epic Energy, said, "The standalone battery storage system rounds out Epic Energy's investment at the current Mannum site, with the battery to sit alongside Epic Energy's two adjacent solar farms, which harness the region's consistent sunlight. The battery will further support the South Australian electricity market and ongoing energy security by absorbing excess energy during the day and storing it for use during the evening peak."

Colin Parkin, President of e-STORAGE, commented, "We are delighted to collaborate with Epic Energy and Recurrent as they expand their renewable energy portfolio in Australia by providing our energy storage technology platform. The Mannum project will support Australia with the efficient development of its energy network, further facilitating the adoption of renewable energy generation."