Canadian Solar to Supply 20.7MW Battery Energy Storage in Germany

Canadian Solar Inc. CSIQ recently stated that its e-STORAGE subsidiary has signed a Battery Energy Storage System (“BESS”) supply contract for a 20.7-megawatt (MW) / 56 megawatt-hour (MWh) direct-current (DC) energy storage project in Lower Saxony, Germany. The deal also includes a 20-year Long-Term Service Agreement (“LTSA”).

CSIQ’s e-STORAGE subsidiary will provide and commission an integrated BESS solution built on its proprietary SolBank technology platform.

Shipments are expected to start in March 2026, with commissioning planned for later that year. The LTSA will deliver long-term maintenance and performance support to ensure reliable operation over the project’s lifecycle.

CSIQ’s Footprint in Europe’s Energy Storage Market

As clean energy adoption accelerates, the energy storage market is gaining momentum. Nations worldwide are ramping up energy storage capacity to support their renewable goals, with Europe being no exception. 

To this end, the Mordor Intelligence firm predicts that the BESS market in Europe will witness a CAGR of 16.1% between 2025 and 2030. Such a strong outlook is likely to support Canadian Solar’s strategy to deepen its presence in the region.

In May 2025, CSIQ’s e-STORAGE unit unveiled its SolBank 3.0 Plus battery energy storage product at Intersolar Europe. Earlier, in January 2025, the company signed agreements with Copenhagen Infrastructure Partners to supply 2 gigawatt-hours (GWh) DC of BESS for two major projects in Scotland.

CSIQ Stock Price Movement

In the past six months, Canadian Solar shares have surged 214.4% compared with the industry’s growth of 41.7%.

Other Stocks to Watch

Other prominent players, such as Fluence Energy, Inc. FLNC, SolarEdge Technologies SEDG and Enphase Energy ENPH, are also expanding their footprint in Europe to reap the benefits of this region’s battery storage market.

On Nov. 7, 2025, Fluence Energy, in partnership with LEAG Clean Power, announced plans to build Europe’s largest battery energy storage system, a 1 GW / 4 GWh project in Janschwalde, Germany. The GigaBattery Janschwalde 1000 project will be equipped with Fluence’s Smartstack advanced energy storage technology.

The Zacks Consensus Estimate for fiscal 2025 revenues stands at $2.61 billion, which implies a rise of 2.6%. The company delivered an average earnings surprise of 18.35% in the last four quarters.

SolarEdge maintains a strong foothold in Europe, especially in Germany. Its CSS-OD battery provides commercial customers with a tightly integrated, high-efficiency solar-plus-storage solution designed to maximize the benefits of solar self-consumption. The system is suitable for both indoor and outdoor use.

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 calls for a surge of 105.1%.

Enphase is positioning itself to tap into this expanding market by strengthening its European presence through product launches. In June 2025, the company launched its IQ Battery 5P across Spain, Portugal, France, Sweden, Denmark, Belgium and the Netherlands.

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

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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