Canadian Solar's e-STORAGE Expands Partnership with Aypa Power through 2.1 GWh of Ontario Battery Storage Projects

Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) announced that e-STORAGE, part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has entered into Battery Storage Agreements (BSA) and Long-Term Services Agreements (LTSA) with Aypa Power for the Elora and Hedley battery energy storage projects in Ontario, Canada.

Together, the Elora and Hedley projects will provide 420 MW / 2,122 MWh of new storage capacity to Ontario's grid, making them among the largest energy storage facilities currently under development in the province. The investments underscore Ontario's growing role in large-scale storage deployment and highlight continued collaboration between e-STORAGE and Aypa Power to deliver critical energy infrastructure across North America.

Both projects will deploy e-STORAGE's SolBank product under 20-year LSTAs that include continuous monitoring, preventive maintenance, and performance guarantees. These contracts are structured to ensure high system availability and predictable service revenues over the life of the assets. Delivery is scheduled to commence in the first quarter of 2026, with commercial operation expected in the first half of 2027.

Moe Hajabed, CEO of Aypa Power, commented, "The Elora and Hedley projects represent critical investments in Ontario's energy system, providing the flexible capacity needed to meet rising demand and maintain a reliable grid. By working with trusted partners and applying the highest standards in performance and safety, we are building assets that deliver lasting value to Ontario's communities and economy."

Colin Parkin, President of e-STORAGE, added, "We are proud to expand our partnership with Aypa Power through the Elora and Hedley projects. These projects will provide reliable capacity through the IESO's Long-Term 1 ("LT1") Resource Adequacy framework and reaffirm our long-term commitment to the Canadian market."

Canadian Solar | www.canadiansolar.com

e-STORAGE | www.csestorage.com 

Aypa Power | www.aypapower.com