Monday, June 24, 2024

Canadian Solar Triumphs with 193 MW in BESS Initiatives in Japan’s First Long-Term Decarbonization Power Source Auction

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Representational picture. Credit: Canva

Won by Canadian Solar Inc. 13.3% of Japan’s inaugural Long-Term Decarbonization Power Source Auction (“LTDA”), by securing three battery vitality storage (“BESS”) initiatives totaling 193 MW.

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Canadian Solar is ready to enter into Capacity Reserve Agreements (“CRA”) with the Organization for Cross-regional Coordination of Transmission Operators (“OCCTO”). These agreements final for a 20-year interval, throughout which the vitality storage initiatives will present capability in change for Capacity Reserve Payments, aimed toward balancing the prices of the storage system. The initiatives are situated in Aomori, Fukushima, and Yamaguchi. Commercial operations are scheduled between 2027 and 2028. The initiatives may also characteristic the SolBank 3.0 system from e-STORAGE, a subsidiary of CSI Solar Co., Ltd.

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Dr. Shawn Qu, Chairman and CEO of Canadian Solar, commented, “Our excellent success on the inaugural LTDA in Japan underscores our robust place within the Japanese vitality storage market. Since launching our PV operations in 2009, we’ve been the trade chief. Today, we’ve additionally established ourselves within the vitality storage market. The introduction of our SolBank 3.0 system is critical, giving us a bonus within the aggressive market. As of January 31, 2024, our challenge growth pipeline in Japan totaled 1.376 GWh and 213 MWp for vitality storage and photo voltaic. With LTDA’s help and growing demand from company consumers, we anticipate continued development in Japan. We stay dedicated to the event of BESS and PV initiatives, supporting Japan’s objective of attaining carbon neutrality by 2050.

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