Fund Colombia »Canadian Solar wins 45 MW solar battery storage challenge for Barranquilla, Colombia – Fund Colombia

Canadian Solar Inc. (NASDAQ: CSIQ) announced yesterday that it has won the first utility-scale battery storage project in Colombia. The 45 megawatt hour project was awarded in a public tender by the Colombian Ministry of Energy and Mining through its subsidiary UPME, the Mining and Energy Planning Unit. Located in the city of Barranquilla in northern Colombia, this project will consist of a 45 MWh lithium-ion battery energy storage system and is expected to go into commercial operation by June 2023. The project will have a 15 year sales structure with the Colombian government and is tied to inflation or the country's producer price index.

The Barranquilla project aims to strengthen the electricity transmission network in the Atlántico department in northern Colombia and support the government's efforts to prevent future supply deficits. It will also support greater renewable energy penetration in the Colombian electricity system by improving the reliability of intermittent energy sources.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, said in a statement: “We are very proud to have won this project in the first storage-only tender in Colombia. This is also our first energy storage project in the country and region of Latin America. The project award is proof of our global presence not only in the solar but also in the energy storage business and further consolidates Canadian Solar's position as the market leader in the field of clean energy. We will continue our global energy storage growth strategy and look forward to bringing more flexible, reliable and cleaner energy to our customers around the world. "

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