Green Growth: Canadian Solar Drives Chile's Energy Transition with Massive Battery Storage – Stock Soars
Kitchener, Canada – e-STORAGE, a subsidiary majority-owned by Canadian Solar's subsidiary CSI Solar Co., has signed a contract with Chilean energy producer Colbún. Meanwhile, Canadian Solar's stock has soared in the past week.
The large-scale battery storage system will be based on e-STORAGE's SolBank 3.0, a lithium iron phosphate battery solution. It features an active balancing battery management system and an advanced liquid cooling system that ensures high efficiency and safety. Additionally, e-STORAGE will provide full integration of the project, including project management, commissioning, and long-term maintenance.
With a capacity sufficient to cover the electricity consumption of about 55,480 households, the system will be operated alongside the 232 MW Diego de Almagro Sur Solar Park, which is owned by Colbún and began its commercial operations in November 2022. This battery storage project represents a significant step in Chile’s efforts to maximize renewable energy use while ensuring grid stability.
The project will not only contribute to energy supply but will also provide advanced grid services such as grid-forming, black start, and inertia support, which are essential for improving the integration of renewable energy into the national power grid. Additionally, the project is expected to create up to 150 jobs and have a positive socio-economic impact on the Atacama Region.
Canadian Solar's stock is currently on a high. Last week, the share price of the RENIXX-listed company surged by 48.2%, reaching €9.66 (closing price on April 25, 2025, Stuttgart Stock Exchange).
Source: IWR Online, 28 Apr 2025
