Canadian Solar raises US$150 million towards expanding energy storage presence

By Liam Stoker
LinkedIn
Twitter
Reddit
Facebook
Email
Canadian Solar’s development subsidiary Recurrent Energy is working on projects including Slate, a solar-plus-storage facility in California, including 300MW of solar PV and 561MWh of battery storage. Image: Recurrent Energy.

Vertically-integrated solar PV company Canadian Solar has raised US$150 million through a share offering, with proceeds set to help the manufacturer expand its energy storage arm.

However the company, ranked as a member of the elite ‘Solar Module Super League’ (SMSL) by our sister publication PV Tech, said it may also use a portion of the proceeds to invest in or acquire businesses, assets or technologies that it believes are “complementary to its business”.

Canadian Solar sold just over 3.6 million shares through an ‘at-the-market’ offering, raising US$150 million before deducting any commissions and expenses associated with the offering.

Net proceeds from the offering are to be invested in its battery storage business, growing its energy storage project pipeline, as well possible investments or acquisitions of businesses, assets or technologies.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It may also use the proceeds to strengthen to its portfolio of solar assets in Europe and Brazil, the SMSL member said.

While Canadian Solar has maintained a solar PV project development arm, it is a relative newcomer to the battery energy storage space. It has quickly amassed a sizeable pipeline, however, and at its Q3 results earlier this month Canadian Solar revealed it had 2.9GWh of battery storage projects current under construction and a further pipeline of 21GWh.

This story first appeared on PV Tech.

Read Next

August 27, 2025
Chinese solar PV inverter and energy storage provider Sungrow has announced two major developments: plans for a Hong Kong IPO and the release of its half-year 2025 interim report.
Premium
August 25, 2025
Public Service Company of New Mexico (PNM) has laid the groundwork for a new 120MWh distribution-connected portfolio of battery energy storage system (BESS) projects.
August 22, 2025
Spanish utility Iberdrola and power conversion specialist firm Ingeteam have partnered to hybridise Spanish operational PV plants with battery energy storage systems (BESS).
Sponsored
August 11, 2025
One of the world’s major players in solar PV is also becoming a well-known name in the energy storage system (ESS) space.
August 7, 2025
Optimisation platform provider Ascend Analytics and EPC firm SolarMax Technologies have announced battery storage projects by clients and partners in Texas’ ERCOT market.

Most Popular

Email Newsletter