Canadian Solar said its project development division has more than 27GWh of battery storage projects planned for development, while its systems integration business division has more than 4GWh of planned projects.
The vertically integrated solar PV company released its latest quarterly results last week. This comes after Canadian Solar unveiled a major new PV manufacturing strategy, saying its first-quarter 2022 revenue of $1.25 billion was within its guidance range.
Meanwhile, Canadian Solar has steadily increased its involvement in battery energy storage over the past few years through its global energy project development division and its manufacturing and systems integration division, CSI Solar.
The company's guidelines are for battery storage projects to reach 1.8GWh-1.9GWh this year, totally solar and storage project sales to reach 2.1GW-2.6GW, and PV module shipments to reach 20GW-22GW, Revenue will be between $7 billion and $7.5 billion.
Almost all projects awarded and under construction in the global energy business segment are in North America, with 1400MWh in the region and only 20MWh in the Asia Pacific.
Of the total potential project opportunity of 24,655MWh, more than 15,400MWh is located in North America.
Canadian Solar said its project development division has more than 27GWh of battery storage projects planned for development, while its systems integration business division has more than 4GWh of planned projects.
The vertically integrated solar PV company released its latest quarterly results last week. This comes after Canadian Solar unveiled a major new PV manufacturing strategy, saying its first-quarter 2022 revenue of $1.25 billion was within its guidance range.
Meanwhile, Canadian Solar has steadily increased its involvement in battery energy storage over the past few years through its global energy project development division and its manufacturing and systems integration division, CSI Solar.
The company's guidelines are for battery storage projects to reach 1.8GWh-1.9GWh this year, totally solar and storage project sales to reach 2.1GW-2.6GW, and PV module shipments to reach 20GW-22GW, Revenue will be between $7 billion and $7.5 billion.
Almost all projects awarded and under construction in the global energy business segment are in North America, with 1400MWh in the region and only 20MWh in the Asia Pacific.
Of the total potential project opportunity of 24,655MWh, more than 15,400MWh is located in North America.
At the same time, CSI Solar's battery energy storage system integration business has a total of 7,172MWh of planned projects globally, including 861MWh of projects with long-term service agreements and 1,572MWh of projects under construction or just signed contracts (expected in 1 year or Completion within one and a half years), 340MWh of projects in intention (the probability of signing a contract is about 75%) and 4399MWh of potential projects.
In the first quarter of this year, CSI Solar made a profit of US$82.5 million, a sharp jump from the US$2.358 million in the first quarter of last year but a slight drop from the previous quarter of US$88.43 million.
Group CEO Dr. Shawn Qu said Canadian Solar's battery division was "winning contracts in new markets and sectors while developing proprietary battery energy storage technologies for utility-scale and residential solutions."
