The company said it will use the proceeds for its long-term strategic growth plans, including investing in its battery storage business and growing its storage pipeline.
Also on the rise: Solar capacity additions are recovering from a subdued 2020, utilities ask for 50 MW of solar in West Virginia, and Broad Reach gets a $400 million equity commitment.
The funding commitment comes as Apollo takes a 50% stake in the company from venture capital firm EnCap Energy.
CSI’s parent Canadian Solar said it has a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction.
Also on the rise: SunPower will market a VPP offering for energy storage customers, and mPrest CEO Andy Bennett talks with pv magazine about the potential for DER under Build Back Better.
The company will manage charging and discharging the batteries, while keeping some electricity in reserve for backup power to the home.
The facility will include a battery recycling building, an office building with laboratories, and a finished goods warehouse.
Battery energy storage capacity may be included, and the solar projects must be sited in Oklahoma.
Also on the rise: A trade court tossed out a Trump action on bifacial modules, and a real estate giant will use its C&I database to identify sites for rooftop solar and energy storage.
Also on the rise: Rooftop solar fires are a real and growing risk, A-SMACC says it could refile anti-dumping tariff petitions, and five New England colleges now are powered by solar under a novel PPA arrangement.
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