{"id":951,"date":"2022-04-14T00:00:37","date_gmt":"2022-04-13T15:00:37","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=951"},"modified":"2022-04-15T11:10:03","modified_gmt":"2022-04-15T02:10:03","slug":"canadian-solar-and-matrix-renewables-announce-transaction-for-105-mwac-solar-plus-80-mwh-storage-project-in-california","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2022\/951.html","title":{"rendered":"CANADIAN SOLAR AND MATRIX RENEWABLES ANNOUNCE TRANSACTION FOR 105 MWAC SOLAR PLUS 80 MWH STORAGE PROJECT IN CALIFORNIA"},"content":{"rendered":"

The project is expected\u00a0to\u00a0reach commercial operation in Q4 2022<\/em><\/strong><\/p>\n

 <\/p>\n

GUELPH, ON\u00a0and\u00a0MIAMI<\/span>,\u00a0\u00a0April 7, 2022<\/span>\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.<\/a><\/span>\u00a0(“Canadian Solar”) (NASDAQ: CSIQ) through its wholly-owned subsidiary\u00a0Recurrent Energy, LLC<\/a><\/span>\u00a0(“Recurrent”) and Matrix Renewables, the TPG Rise-backed global renewable energy platform,\u00a0today announced an agreement whereby Matrix Renewables will acquire\u00a0the Gaskell West 2 and 3 project of 105 MWac solar plus 80 MWh energy storage.<\/p>\n

 <\/p>\n

The Gaskell West 2 and 3 project is located in\u00a0Kern County, California, and is fully contracted holding five long term power purchase agreements with cities and utilities in California.\u00a0 The solar plus storage project\u00a0is\u00a0expected to reach commercial operation in late\u00a02022, and will\u00a0generate enough clean and low-cost electricity to power approximately 16,800\u00a0California\u00a0homes and displace approximately 178,500 metric tons of carbon emissions each year. This hybrid project marks the\u00a0first transaction between Matrix Renewables and Recurrent.<\/p>\n

 <\/p>\n

Canadian Solar’s\u00a0majority-owned subsidiary\u00a0CSI Solar\u00a0will support the project by providing the turnkey battery storage solution for the 80 MWh storage part of the project. The integrated technology solution includes the supply, installation and commission of a lithium iron phosphate-based battery system. In addition,\u00a0CSI Solar\u00a0will support the battery storage system with capacity and performance guarantees, ensuring system output, safety and reliability.<\/p>\n

 <\/p>\n

Matrix Renewables\u00a0has been expanding its presence in\u00a0the United States, its sixth country of operations, and opened its\u00a0U.S.\u00a0headquarters in\u00a0Miami, Florida\u00a0in\u00a0August 2021.<\/p>\n

 <\/p>\n

Cindy Tindell,\u00a0Managing Director and Head of\u00a0U.S.\u00a0for Matrix Renewables, commented, “Through this project, we are continuing to grow our presence in the\u00a0U.S., drawing from Matrix Renewables’ ambitions to become a major renewables platform across the\u00a0U.S.,\u00a0Europe\u00a0and\u00a0Latin America. We are pleased to partner with\u00a0Canadian Solar\u00a0and Recurrent on a project that will leverage our combined expertise to provide clean, affordable power to the state of\u00a0California.”<\/p>\n

 <\/p>\n

Dr.\u00a0Shawn Qu, Chairman and CEO of\u00a0Canadian Solar, said, “Co-locating energy storage with solar is critical to providing affordable, dispatchable and clean renewable electricity, especially during peak demand hours in the evening, thereby meaningfully increasing the value of our projects for our customers and partners. The execution of this project demonstrates\u00a0Canadian Solar’s\u00a0growing expertise in battery storage, both in its development as well as delivering the integrated technology solution. This is yet another battery storage project that our project development and system solutions teams are delivering in\u00a0California, following the Mustang, Slate and Crimson battery storage projects. We are pleased to partner with Matrix Renewables in this project and look forward to further contributing to\u00a0California’s\u00a0efforts to decarbonize its economy, while creating long-lasting benefits to the local community.”<\/p>\n

 <\/p>\n

 <\/p>\n

About Matrix Renewables<\/h4>\n

Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its\u00a0$14 billion\u00a0impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 2.1 GW of operational, under construction, or near ready-to-build solar PV projects and a further 2.7 GW pipeline of renewable energy projects under development, across the US,\u00a0Europe, and\u00a0Latin America. For more information, visit\u00a0matrixrenewables.com<\/a><\/span>\u00a0or send an email to\u00a0info@matrixrenewables.com<\/span><\/a>.<\/p>\n

 <\/p>\n

About Recurrent Energy (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<\/a><\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project is expected\u00a0to\u00a0reach commercial operation in Q4 2022   GUELPH, ON\u00a0and\u00a0MIAMI,\u00a0\u00a0April 7, 2022\u00a0\/ […]<\/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-951","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\/951","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=951"}],"version-history":[{"count":4,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/951\/revisions"}],"predecessor-version":[{"id":955,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/951\/revisions\/955"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}