Canadian Solar Inc. announced that it has won three battery energy storage system projects, totaling 193 MW, in Japan's first Long-Term Decarbonization Power Source Auction. The winners of this auction were announced on April 26, 2024, with the Company securing a 13.3% of the total awarded energy storage projects. Canadian Solar will enter into Capacity Reserve Agreements with the Organization for Cross-regional Coordination of Transmission Operators.

These energy storage projects will provide capacity over a 20-year period, in return for Capacity Reserve Payments to offset fixed storage system costs. Located in Aomori, Fukushima, and Yamaguchi prefectures respectively, the three projects are expected to commence commercial operations between 2027 to 2028 and will feature the recently launched SolBank 3.0 system from e-STORAGE, a subsidiary CSI Solar Co. Ltd.