{"id":616,"date":"2020-11-04T15:26:54","date_gmt":"2020-11-04T06:26:54","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=616"},"modified":"2020-11-04T15:29:24","modified_gmt":"2020-11-04T06:29:24","slug":"canadian-solar-to-provide-a-75-mw-300-mwh-energy-storage-system-to-the-mustang-solar-project-in-california","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2020\/616.html","title":{"rendered":"CANADIAN SOLAR TO PROVIDE A 75 MW \/ 300 MWH ENERGY STORAGE SYSTEM TO THE MUSTANG SOLAR PROJECT IN CALIFORNIA"},"content":{"rendered":"

GUELPH, ON,\u00a0Oct. 19, 2020\u00a0\/PRNewswire\/ —<\/span>\u00a0<\/span>Canadian Solar Inc.<\/a>\u00a0<\/span>(the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), announced today that it has closed a supply contract and long term service agreement with\u00a0Goldman Sachs Renewable Power LLC, part of the\u00a0Renewable Power Group of Goldman Sachs Asset Management\u00a0(“Goldman Sachs”), to deliver and integrate a 75 MW \/ 300 MWh lithium-ion battery storage solution into the 100 MWac Mustang solar plant in\u00a0California.<\/span><\/p>\n

The 75 MW or 4-hour 300 MWh\u00a0energy storage system is a retrofit addition to the<\/span>\u00a0Mustang solar\u00a0<\/a><\/span>plant in King’s County,\u00a0California, which was originally developed by\u00a0Canadian Solar’s\u00a0wholly owned subsidiary<\/span>\u00a0Recurrent Energy<\/a><\/span>, LLC (“Recurrent Energy”). The solar plant was connected to the grid in<\/span>\u00a0August 2016<\/a><\/span>\u00a0and the project’s equity stake was later sold to\u00a0<\/span>Goldman Sachs<\/a>\u00a0<\/span>in\u00a0May 2019.<\/span><\/p>\n

Canadian Solar\u00a0will provide the complete integrated solution, including a lithium iron phosphate-based technology package, and all future operations, maintenance and battery augmentation services. In addition, the Company will support the storage solution with fully wrapped capacity and performance guarantees, ensuring system output, reliability and safety. Construction of the energy storage component of the project will begin in early 2021 and is expected to be operational by the second half of 2021.<\/span><\/p>\n

By pairing solar PV with advanced battery technology,\u00a0Canadian Solar\u00a0helps its customers to generate and store solar power during the day for use in the evening. This approach allows\u00a0California’s\u00a0power grid to absorb and integrate higher levels of reliable, safe and affordable renewable energy while contributing to the state’s climate mitigation efforts.<\/span><\/p>\n

Dr.\u00a0Shawn Qu<\/a><\/span>,\u00a0<\/b>Chairman and CEO of\u00a0Canadian Solar<\/b>, commented, “We are pleased to start supplying this large-scale solar plus energy storage project which will be fully developed by\u00a0Canadian Solar\u00a0with our own proprietary technological capabilities. The adoption and integration of energy storage will improve the utilization of solar energy and meaningfully enlarge our global addressable market.”<\/span><\/p>\n

Dr. Qu\u00a0added, “We are excited to partner again with Goldman Sachs to deliver clean, cost effective and end-to-end solar energy and storage solutions to our customers and local communities. Despite the challenging market backdrop due to the pandemic, our teams continue to develop innovative technology solutions and execute our business plan. This is a landmark project, the first of many more to come.”<\/span><\/p>\n

About\u00a0Goldman Sachs Renewable Power LLC<\/strong><\/span><\/p>\n

Goldman Sachs Renewable Power LLC\u00a0is a privately held company managed the\u00a0Renewable Power Group of Goldman Sachs Asset Management\u00a0(GSAM). GSRP is the sponsor of more than 800 solar projects across 27 U.S. states that collectively have a capacity of more than 1.8 gigawatts of clean, renewable power.\u00a0GSAM’s Renewable Power Group\u00a0is comprised of investment professionals with leading industry expertise across transaction sourcing, financial analysis, power markets and physical asset analysis and operations. The team takes a long-term ownership approach to the operations and management of renewable assets and benefits from Goldman Sachs’ extensive network of relationships, leading institutional infrastructure and in-house industry knowledge and experience.\u00a0The Renewable Power Group\u00a0is part of GSAM, one of the world’s leading asset managers with approximately\u00a0$1.9 trillion\u00a0in assets under supervision globally as of\u00a0June 30, 2020.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0Oct. 19, 2020\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the “Company”, or “Canad […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-616","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=616"}],"version-history":[{"count":5,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/616\/revisions"}],"predecessor-version":[{"id":622,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/616\/revisions\/622"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}