Canadian Solar to Supply 1858 MWh of Energy Storage Solution in Canada

Canadian Solar Inc.’s CSIQ e-STORAGE subsidiary has secured a contract to deliver a fully integrated energy storage solution and turnkey Engineering, Procurement and Construction (EPC) services for the 411 megawatts (MW)/1,858 megawatt-hours (MWh) Skyview 2 Energy Storage Project in Edwardsburgh Cardinal, Ontario, Canada.

The project, developed by Potentia Renewables Inc. in partnership with the Algonquins of Pikwàkanagàn First Nation, was awarded through Ontario’s Long-Term Reliability energy-storage procurement process.

Details of CSIQ’s Project

As the turnkey EPC provider, e-STORAGE will supply roughly 390 units of its SolBank 3.0 energy storage solution for the project. Shipments are slated to begin in February 2026, with commercial operations targeted for the second quarter of 2027.

CSIQ’s subsidiary e-STORAGE will also handle system integration, substation and balance-of-plant work, along with the transmission line interconnection to the existing grid. In addition, e-STORAGE will deliver a 21-year Long-Term Service Agreement to support sustained system performance and reliability.

With 8 gigawatt-hours (GWh) of energy storage projects deployed across North America, e-STORAGE continues to enhance its execution track record and expand its regional footprint. The Skyview 2 project further builds on this momentum, underscoring e-STORAGE’s full-stack delivery capabilities across the entire storage project lifecycle.

Canadian Solar’s Growth Prospects in North America

Per a Global Market Insights report, the rising need to modernize aging grid infrastructure is expected to accelerate the growth of North America’s energy storage systems market. Increasing demand for reliable grid support and the expanding adoption of clean energy technologies will further fuel industry expansion. The same report projects the market to witness a CAGR of 16.1% from 2024 to 2032.

Such bright projections undoubtedly pave the way for energy storage solution providers like Canadian Solar to capitalize on the expanding energy storage demand in North America.

On Oct. 1, 2025, Canadian Solar announced that it had signed a battery storage agreement and long-term service contracts with Aypa Power for the Elora and Hedley battery energy storage projects in Ontario, Canada. Combined, these two projects will deliver 420 MW / 2,122 MWh of new storage capacity to Ontario’s grid.

As of Sept. 30, 2025, Canadian Solar had a Solar Project Development Pipeline totaling 5,600 megawatt-peak and a Battery Energy Storage Project Development Pipeline of 24,332 MWh in North America.

CSIQ Peers’ Prospects

Other prominent solar players, which are expanding their footprint to reap the benefits of the growing North America energy storage market, are mentioned below.

SolarEdge Technologies Inc. SEDG: In October 2025, the company announced that it had surpassed a key milestone, with more than 500 MWh of residential battery storage enrolled in Virtual Power Plant programs across 16 U.S. states, Canada, and Puerto Rico.

The Zacks Consensus Estimate for 2025 revenues is pegged at $1.16 billion, which implies a rise of 25.4%. The Zacks Consensus Estimate for 2026 earnings stands at 14 cents, which implies a rise of 105.1%.

Enphase Energy ENPH: In May 2025, the company reported that it had deployed more than 6.5 million IQ Microinverters and 50 MWh of IQ Batteries manufactured in the United States using both domestic and imported components.

The Zacks Consensus Estimate for 2025 revenues stands at $1.46 billion, which implies a rise of 9.4%. The Zacks Consensus Estimate for 2025 earnings is pinned at $2.79, which implies a rise of 17.7%.

Emeren Group Ltd SOL: The company is active in major renewable energy markets across the United States. It develops utility-scale solar, solar-plus-storage, and stand-alone storage projects in markets with strong renewable energy and storage targets or high demand for clean power, including California, Illinois, and New York, as well as in other states.

The Zacks Consensus Estimate for 2025 earnings stands at 11 cents, which implies a rise of 145.8%. The company delivered an average earnings surprise of 53.13% in the last four quarters.

CSIQ’s Stock Price Movement

In the past six months, the company’s shares have surged 167.7% compared with the industry’s growth of 33.9%.

CSIQ’s Zacks Rank

Canadian Solar currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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