Stock Track | Canadian Solar Soars 5.30% Intraday on Major Battery Storage Contract

Stock Track12-17

Canadian Solar's stock surged 5.30% intraday on Wednesday, driven by the announcement of a significant contract for its subsidiary e-Storage. The company will deliver a 408 MWh AC battery energy storage system to Vena Energy for a project in South Australia.

The turnkey solution, using nearly 100 SolBank 3.0 battery containers, marks the fourth such project for e-STORAGE in Australia, expanding its total footprint in the country to approximately 2 GWh. The project is expected to begin operation in 2027, with e-STORAGE also responsible for maintenance under a five-year service agreement.

The contract underscores Canadian Solar's growing presence in the renewable energy storage market, boosting investor confidence in its long-term growth prospects.

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