The Energy Storage Report 2024

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Canadian Solar secures 487MWh supply deal with Blackstone’s Aypa Power for California project

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CSI Energy Storage, part of Canadian Solar, will supply 487MWh of its battery energy storage solution Solbank to developer Aypa Power.

The solution will go towards a battery energy storage system (BESS) project in Los Angeles being developed by Aypa Power, which is part of Blackstone, the largest private equity firm in the world.

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The BESS project, called Cald, will be a standalone system and is expected to come online in the first half of 2024.

Aypa turned its first energy storage project online in 2018, when it was called NStor C&I, before being acquired by Blackstone two years later, renamed Aypa Power and pivoted towards the utility-scale segment. The company recently secured a US$320 million line of credit to advance its projects.

CSI launched Solbank, a proprietary designed and manufactured energy storage battery solution, in September 2022. It is targeting a manufacturing capacity of 10GW by the end of 2023, and has deployed around 2.3GWh of BESS projects to date across the UK, US and Canada. Its pipeline as of end-January 2023 stands at nearly 25GWh.

Recent orders include 550MWh for a project in the UK and 2.6GWh for projects developed by UBS Asset Management.

Parent company Canadian Solar is a vertically integrated solar PV company which ranks among the elite ‘Solar Module Super League’ by our sister publication PV Tech.

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