Dr. Shawn Qu
UBS Asset Management‘s Real Estate & Private Markets enterprise in North America has chosen Canadian Solar Inc.‘s CSI Energy Storage, which is a part of its majority-owned subsidiary CSI Solar Co. Ltd., to offer as much as 2.6 GWh of battery options for the build-out of energy storage initiatives.
The battery options offered by CSI Energy Storage are central to UBS Asset Management’s energy storage funding technique and a part of the strategic enlargement of its infrastructure enterprise within the U.S. The multi-year settlement will assist the continuing enlargement of its energy storage initiatives pipeline in North America. The initiatives are scheduled to succeed in industrial operation in 2024 and 2025.
“Batteries with utility-scale application are a critical component for the energy transition,” says Mark Saunders, co-head of energy storage infrastructure at UBS Asset Management. “We’re pleased to be able to partner with a best-in-class provider to enable us to rapidly scale up our energy storage solutions and look forward to working alongside CSI Energy Storage to deliver benefits to all of our stakeholders.”
The energy storage initiatives coated within the settlement will make the most of CSI Energy Storage’s SolBank, a proprietary battery energy storage answer designed and manufactured for utility-scale functions. CSI Energy Storage may also present full commissioning and integration companies for the initiatives, along with long-term operations and upkeep, warranties and efficiency ensures.
“We are pleased to support UBS in the execution of their large energy storage pipeline throughout North America,” states Dr. Shawn Qu, chairman and CEO of Canadian Solar. “Our proprietary battery storage product SolBank offers best-in-market product safety and cost competitiveness and our agreement with UBS demonstrates our ability to attract top-tier investors and provide battery energy storage solutions at scale and on a timeline that our customers require. Energy storage is critical to the reliability of a rapidly decarbonizing electric grid, and we will continue to partner with customers like UBS to make a difference in the energy transition.”