Canadian Solar to Provide 75 MW / 300 MWh Energy Storage System to Solar Project in California

Guelph, Canada - Canadian Solar announced hat it has closed a supply contract and long term service agreement with Goldman Sach Renewable Power LLC, part of the Renewable Power Group of Goldman Sachs Asset Management.

Canadian Solar is to deliver and integrate a 75 MW / 300 MWh lithium-ion battery storage solution into the 100 MWac Mustang solar plant in California. The 75 MW or 4-hour 300 MWh energy storage system is a retrofit addition to the Mustang solar plant in King's County, California, which was originally developed by Canadian Solar's wholly owned subsidiary Recurrent Energy, LLC. The solar plant was connected to the grid in August 2016 and the project's equity stake was later sold to Goldman Sachs in May 2019.

Canadian Solar will provide the complete integrated solution, including a lithium iron phosphate-based technology package, and all future operations, maintenance and battery augmentation services. In addition, the Company will support the storage solution with fully wrapped capacity and performance guarantees, in ordert o ensure system output, reliability and safety. Construction of the energy storage component of the project will begin in early 2021 and is expected to be operational by the second half of 2021.

By pairing solar PV with advanced battery technology, Canadian Solar supports its customers to generate and store solar power during the day for use in the evening. This approach allows California's power grid to absorb and integrate higher levels of renewable energy while contributing to the state's climate mitigation efforts.

About the companies

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy and storage solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has delivered over 46 GW of solar photovoltaic modules to customers in over 150 countries.

Goldman Sachs Renewable Power LLC is a privately held company managed the Renewable Power Group of Goldman Sachs Asset Management (GSAM). GSRP is the sponsor of more than 800 solar projects across 27 U.S. states that collectively have a capacity of more than 1.8 gigawatts of power. The Renewable Power Group is part of GSAM, one of the world's leading asset managers with approximately $1.9 trillion in assets under supervision globally as of June 30, 2020.

Source: IWR Online, 21 Oct 2020