{"id":764,"date":"2021-06-28T12:00:11","date_gmt":"2021-06-28T03:00:11","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=764"},"modified":"2021-06-28T13:40:59","modified_gmt":"2021-06-28T04:40:59","slug":"recurrent-energy-amps-up-battery-storage-activity-executing-on-2-3-gwh-of-storage-projects","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2021\/764.html","title":{"rendered":"RECURRENT ENERGY AMPS UP BATTERY STORAGE ACTIVITY EXECUTING ON 2.3 GWH OF STORAGE PROJECTS"},"content":{"rendered":"

SAN FRANCISCO,\u00a0June 22, 2021\u00a0\/PRNewswire\/ —\u00a0Recurrent Energy, LLC<\/a>\u00a0<\/span>(“Recurrent Energy”), a wholly-owned subsidiary of\u00a0Canadian Solar Inc.<\/a>\u00a0(“Canadian Solar”) (NASDAQ: CSIQ) today announced it has expanded its energy storage footprint in\u00a0the United States\u00a0with several leading Battery Energy Storage Systems (“BESS”) contracted to be built in 2021 and 2022. These projects span retrofits as-a-service, solar plus storage PPAs, and stand-alone storage tolling agreements.<\/p>\n

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California’s\u00a0rapidly evolving energy landscape and aggressive carbon reduction goals are increasing the need for energy storage technologies. Southern California Edison (“SCE”) awarded Recurrent Energy a long-term contract beginning in the summer of 2022 for the 200 MW \/ 800 MWh Crimson BESS project, representing one of the largest stand-alone storage contracts in the\u00a0U.S.\u00a0The California Public Utility Commission\u00a0recently voted to approve the Crimson project’s contract with SCE and the\u00a0United States Interior Department\u00a0recently announced that the\u00a0Bureau of Land Management\u00a0has given final approval to site the Crimson project on public lands in the\u00a0California\u00a0desert, in\u00a0Riverside County.<\/p>\n

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Furthermore, Recurrent Energy has partnered with\u00a0Southern Power\u00a0and AIP Management (“AIP”) to provide development services to add\u00a072 MW \/ 288 MWh of energy storage<\/span><\/a>\u00a0to the\u00a0200 MWac Tranquillity solar project<\/a><\/span>\u00a0located in\u00a0Fresno County, California, and\u00a088 MW \/ 352 MWh of energy storage<\/a>\u00a0<\/span>to the\u00a0200 MWac Garland solar project<\/span><\/a>\u00a0located in\u00a0Kern County, California. The Tranquillity and Garland solar PV projects were originally developed and constructed by Recurrent Energy in 2016 and are currently owned by\u00a0Southern Power\u00a0and AIP. BESS retrofits on both projects are currently under construction.<\/p>\n

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Recurrent Energy is also in the process of constructing the\u00a0Slate project (300 MWac solar plus 140.25 MW \/ 561 MWh storage)<\/a>\u00a0<\/span>and the\u00a075 MW \/ 300 MWh BESS retrofit<\/a><\/span>\u00a0to the\u00a0100 MWac Mustang solar project<\/span><\/a>. Slate and Mustang are both located in\u00a0Kings County, California\u00a0and are owned by\u00a0Goldman Sachs Renewable Power LLC.<\/p>\n

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The above referenced energy storage projects will deliver significant benefits to\u00a0California. In addition to supporting a total of more than 400 local construction jobs, the projects will enhance\u00a0California’s\u00a0grid reliability by providing critically needed resource adequacy capacity, with the ability to send energy to the grid during heatwaves and other peak demand events. The\u00a0California Energy Commission\u00a0has noted in the past that natural gas-fired peaking plants are used in the state when peak demand for electricity is too high to be met by other resources. By storing renewable generation when production exceeds demand, energy storage can be used in place of natural gas peaking plants during the highest electricity demand hours.<\/p>\n

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With a pipeline of around 11 GWh of battery storage projects across\u00a0the United States, of which 2.3 GWh are in late-stage development, Recurrent Energy has been actively developing both PV solar plus energy storage and standalone storage projects since 2014. Recurrent Energy boasts a dedicated energy storage team with extensive design, energy marketing and optimization experience. Over the past years, it has solidified its market leadership position by developing innovative solar-plus-storage and storage-only projects and offtake agreements in numerous markets throughout\u00a0the United States.<\/p>\n

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In collaboration with Recurrent Energy’s project development team,\u00a0Canadian Solar’s\u00a0majority-owned\u00a0CSI Solar\u00a0subsidiary delivers competitive, highly bankable and fully-integrated battery storage solutions to support the recent acceleration in demand.\u00a0Canadian Solar’s\u00a0global project development business, or\u00a0Global Energy Group, continues to expand and focus on energy storage, with a combined total pipeline of more than 5,328 MW \/ 16,875\u00a0MWh.<\/p>\n

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Dr.\u00a0Shawn Qu, Chairman and CEO of\u00a0Canadian Solar\u00a0said, “Solar is expected to have another record-breaking year in the\u00a0U.S., with 23.8 GWdc in new capacity expected to come online in 2021, along with nearly 12 GWh of battery storage, more than doubling existing capacity. We applaud our customers for their commitment to use cost-effective lithium-ion storage capacity with minimal carbon footprint to enable a cleaner energy economy and brighter future. We are pleased to continue to offer flexible and reliable clean energy solutions for our customers and the communities we serve across\u00a0the United States.”<\/p>\n

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About Recurrent Energy\u00a0(Canadian Solar Subsidiary)<\/h4>\n

Recurrent Energy is a leading utility-scale solar and storage project developer, delivering competitive, clean electricity to large energy buyers. Based in the\u00a0U.S., Recurrent Energy is a wholly owned subsidiary of\u00a0Canadian Solar Inc.\u00a0and functions as\u00a0Canadian Solar’s\u00a0U.S.\u00a0project development arm. Recurrent Energy has approximately 5 GW of solar and storage projects in development in the\u00a0U.S.\u00a0Additional details are available at\u00a0www.recurrentenergy.com<\/span><\/a>.<\/p>\n

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About\u00a0Southern Power<\/h4>\n

Southern Power, a subsidiary of Southern Company, is a leading\u00a0U.S.\u00a0wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers.\u00a0Southern Power\u00a0and its subsidiaries, some of which are owned in part with various partners, own or operate 54 facilities operating or under development in 14 states with more than 12,498 MW of generating capacity in\u00a0Alabama,\u00a0California,\u00a0Delaware,\u00a0Georgia,\u00a0Kansas,\u00a0Maine,\u00a0Nevada,\u00a0New Mexico,\u00a0North Carolina,\u00a0Oklahoma,\u00a0South Dakota,\u00a0Texas,\u00a0Washington\u00a0and West Virginia.<\/p>\n

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About\u00a0Goldman Sachs Renewable Power LLC<\/h4>\n

Goldman Sachs Renewable Power LLC\u00a0is a privately held company managed by 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 2.3 gigawatts of clean, renewable power.\u00a0GSAM’s\u00a0Renewable 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\u00a0GSAM, one of the world’s leading asset managers with approximately\u00a0$2.0 trillion\u00a0in assets under supervision globally as of\u00a0December 31, 2020.<\/p>\n

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About AIP Management<\/h4>\n

AIP Management is a Danish investment company dedicated to investing into energy and infrastructure assets in\u00a0Europe\u00a0and the US. To date, AIP has invested more than\u00a0EUR 4 billion, primarily in assets that contribute to the green transition, including in six European offshore wind farms, three onshore wind farms in\u00a0Sweden\u00a0and the US, as well as in four large solar power plants in\u00a0California\u00a0and\u00a0Texas. The existing investments deliver sustainable energy to cover the equivalent of 2.2 million households’ consumption and they save more than 3 million tonnes of CO2 on a yearly basis.<\/p>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO,\u00a0June 22, 2021\u00a0\/PRNewswire\/ —\u00a0Recurrent Energy, LLC\u00a0(“Recurrent Energy”), a wh […]<\/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-764","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\/764","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=764"}],"version-history":[{"count":3,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/764\/revisions"}],"predecessor-version":[{"id":767,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/764\/revisions\/767"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}