CSIQ to Supply 408MWh Battery Energy Storage System in South Australia

Canadian Solar Inc. CSIQ recently stated that its e-STORAGE unit will supply a 408 megawatt-hour (MWh) Alternating Current Battery Energy Storage System (“BESS”) to Vena Energy for the Tailem Bend 3 project in South Australia.

In partnership with Vena Energy and Balance of Plant partner Consolidated Power Projects Australia Pty Ltd, e-STORAGE will execute the 204 MW / 408 MWh Tailem Bend 3 BESS as a turnkey EPC project, deploying nearly 100 SolBank 3.0 battery containers.

The Tailem Bend 3 project in Tailem Bend, South Australia, is currently under construction and is expected to become operational in 2027. Under an initial five-year long-term service agreement, e-STORAGE will also handle the operation and maintenance of the BESS.

Once completed, the project will enhance grid stability in South Australia and support greater integration of renewable energy.

CSIQ’s Footprint in Battery Energy Storage Market

As clean energy adoption speeds up, the energy storage market is gathering pace, with nations worldwide expanding energy storage capacity to meet their renewable energy targets.

To this end, the Mordor Intelligence firm predicts that the BESS market will witness a CAGR of 17.56% between 2025 and 2030. This favorable outlook is expected to bolster Canadian Solar’s efforts to expand its global footprint.

As of Sept. 30, 2025, CSIQ’s battery energy storage project development pipeline totaled 80,578 MWh. Further strengthening its footprint, the company’s e-STORAGE unit announced in November 2025 that it had secured a BESS supply contract for a 20.7 MW / 56 MWh Direct Current energy storage project in Germany.

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.

In November 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 deploy Fluence Energy’s Smartstack advanced energy storage technology.

The Zacks Consensus Estimate for fiscal 2026 revenues stands at $3.37 billion, which implies a rise of 48.9%. The company delivered an average earnings surprise of 11.87% in the last four quarters.

SolarEdge has a strong foothold in Europe, especially in Germany. Its CSS-OD battery delivers commercial customers an integrated, high-efficiency solar-plus-storage solution that boosts solar self-consumption and is designed for flexible deployment in both indoor and outdoor settings.

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 global presence through product launches. In June 2025, the company rolled out the 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 Stock Price Movement

In the past six months, Canadian Solar shares have surged 137% compared with the industry’s growth of 61.6%.

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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