- Canadian Solar has invested an undisclosed amount in UK based battery storage assets’ trading platform Habitat Energy
- Through this partnership, Canadian Solar plans to offer its battery storage asset owners an option to generate additional revenue from trading optimization
- The company believes it will allow it to continue to ‘de-risk and improve returns for project owners and investors’
Vertically integrated module manufacturer Canadian Solar, Inc. has announced a strategic partnership and undisclosed investment with Habitat Energy of the UK that offers a trading platform for grid-scale battery storage assets.
Established in the UK and Australian markets, Habitat Energy with its proprietary software PowerIQ combines algorithmic forecasting and artificial intelligence for its trading platform with full market-to-market capabilities for wholesale and balancing markets. It will be able to leverage Canadian Solar’s global presence in the solar and storage space to further its battery energy storage software business.
For Canadian Solar, the management aims for this partnership to further establish it as an industry leader in complex energy storage project solutions and project development, enabling it to offer its clients enhanced technology solutions. At the same time, it will be able to offer its battery storage asset owners a way to generate additional revenue from trading optimization, it explained, while improving grid stability.
“The power grid of tomorrow is not only built by renewable energy and battery storage, but crucially driven by artificial intelligence, big data, machine learning, cloud computing and many more technologies,” said Chairman and CEO of Canadian Solar, Dr. Shawn Qu who stressed on making merchant battery storage investable at scale. “Through this partnership, we will continue to de-risk and improve returns for project owners and investors, while contributing to a smarter, stabler, cleaner and more powerful global electric grid for global consumers,” he added.
Among its global solar and storage projects, through its US based subsidiary Recurrent Energy, Canadian Solar has been building several solar and storage projects in the country. Earlier this month Recurrent Energy’s subsidiary Sonoran West secured final approval from the US Bureau of Land Management (BLM) to construct its 350 MW solar PV with 350 MW energy storage system (see 350 MW Solar+350 MW Storage Project Approved In US).