The Summerfield battery storage project is a 2-hour 240 MW (480 MWh) DC energy storage solution. The project is currently sized at a 2-hour storage duration but is expandable depending on market needs.

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"), has been selected as the preferred supplier for Engineering, Procurement, and Construction ("EPC") and Operations and Maintenance ("O&M") by Copenhagen Infrastructure Partners (CIP) to deliver its Summerfield battery storage project in South Australia.

The Summerfield battery storage project is a 2-hour 240 MW (480 MWh) DC energy storage solution. The project is currently sized at a 2-hour storage duration but is expandable depending on market needs. Summerfield is the first of multiple large-scale battery projects spearheaded by CIP in Australia. The project is scheduled for installation in 2025 and will incorporate e-STORAGE's SolBank battery technology.

The Summerfield Battery is strategically situated in the Murraylands region to the east of Adelaide in South Australia. The battery supports Australia's energy operator's roadmap for the efficient development of the network and facilitates the integration of new renewable generation sources.

Using e-STORAGE's proprietary SolBank's cutting-edge battery technology, the Summerfield Battery will serve as a critical reservoir of energy, enhancing grid stability in the region. The battery system will accumulate surplus energy during periods of low demand and distribute power back to the grid during peak consumption phases. This functionality is essential for ensuring a consistent, cost-effective supply of electricity to South Australia, Victoria, and the broader national energy grid.

Partner and Head of CIP Australia Jørn Hammer said: "We are pleased to work with Canadian Solar to deliver a new large-scale battery in South Australia. The Summerfield Battery will help to ensure continued energy reliability and unlock new renewable capacity."

Colin Parkin, President of e-STORAGE, commented: "We are deeply honored to collaborate with Copenhagen Infrastructure Partners Flagship Fund as they endeavor to expand battery storage solutions in Australia. Together, we understand the pivotal role that battery storage systems play in achieving a sustainable future and we are engaged in making a difference in the renewable industry."

e-STORAGE will deliver its proprietary SolBank battery energy storage systems and provide full integration, commissioning, and long-term operational services for the project. SolBank is a self-manufactured battery designed for utility-scale applications. It is based on lithium-iron-phosphate (LFP) chemistry and engineered with a strong focus on safety and efficiency. The battery incorporates LFP cells, efficient liquid cooling systems, and multi-level fire safety management systems. It also includes state-of-the-art monitoring and control systems. Additionally, the active cell balancing system ensures safe operation and optimized system efficiency and overall performance.

About Copenhagen Infrastructure Partners

Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and renewable hydrogen. CIP manages 11 funds and has to date raised approximately EUR 25 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com

About Canadian Solar

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered over 110 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected around 9.3 GWp of solar power projects and over 3 GWh of battery storage projects across the world. Currently, the Company has around 850 MWp of solar power projects in operation, 7.8 GWp of projects under construction or in backlog (late-stage), and an additional 18.7 GWp of projects in advanced and early-stage pipeline. In addition, the Company has a total battery storage project development pipeline of approximately 55 GWh, including approximately 5 GWh under construction or in backlog, and an additional 50 GWh at advanced and early-stage 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.

e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in the design, manufacturing, and integration of battery energy storage systems for utility-scale applications. The Company offers its own proprietary LFP battery solution, comprehensive EPC services, and innovative solutions aimed at improving grid operations, integrating clean energy, and contributing to a sustainable future. To date, e-STORAGE has successfully implemented over 3.3 GWh DC of battery energy storage solutions in various locations, including the United States, Canada, the United Kingdom, and China. This brings the total installed capacity and contracted projects to 12.4 GWh DC. This significant accomplishment solidifies e-STORAGE's position as a key player in the global energy storage integration industry. Currently, the Company operates two fully automated, state-of-the-art manufacturing facilities with an annual production capacity of 10 GWh. e-STORAGE is fully equipped to continue providing high-quality, scalable energy storage solutions and contribute to the widespread adoption of clean energy. For additional information about e-STORAGE, please follow the LinkedIn page or visit www.csestorage.com.