2021-12-02CANADIAN SOLAR’S CSI SOLAR AND CATL SIGN BATTERY STORAGE STRATEGIC COOPERATION FRAMEWORK AGREEMENT
GUELPH, ON, Nov. 24, 2021 /PRNewswire/ — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ) announced today that its subsidiary CSI Solar signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co., Ltd. (“CATL”), a global leader of new energy innovative technologies.
According to the agreement, CSI Solar and CATL will establish a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.
Tan Libin, CATL’s Vice President, commented, “Global demand for battery storage is increasing dramatically under the backdrop of reaching net-zero emission goals. Our competitive advantage is on delivering highly innovative, efficient, competitive, and safe batteries across various applications, while Canadian Solar is an early mover and one of the key players in the global battery energy storage business. Our partnership with Canadian Solar is a perfect match and allows us to build on both our strengths.”
Dr. Shawn Qu, Canadian Solar’s Chairman and CEO, added, “We are delighted to partner with CATL to support the rapid growth of our battery storage businesses. The partnership leverages CATL’s innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers. We now have a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction. Our common goal is to use solar and battery storage technology to support a cleaner, smarter and more reliable global grid, and do our part in contributing to the acceleration of the clean energy transition.”
Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange with stock code 300750. According to SNE Research, in the year 2020, CATL’s EV battery consumption volume ranked No.1 in the world for four consecutive years. CATL also enjoys wide recognition by global OEM partners. To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy, and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including battery chemistry system, structure system, manufacturing system and business models. For more information, please visit http://www.catl.com