Recurrent Energy completed the sale of two 100 MW /400 MWh BESS projects in France to BW ESS.

This combination of 200 MW / 800 MWh projects has been sold to BW ESS, demonstrating that Recurrent Energy has the capability to develop and monetize high-quality battery energy storage projects.

Kitchener, Ontario, Canada, October 29th / PRNewswire / -- Canadian Solar Inc. ("Canadian Solar") (Nasdaq ticker: CSIQ) A subsidiary of Recurrent Energy, a global leader in the development, ownership, and operation of solar and energy storage assets, announced today that it has sold two independent BESS projects in France to the global energy storage asset owner and operator BW ESS.

This project portfolio includes two facilities: one located in Pyr and es-Orientales province, with an installed capacity of 100 MW / 400 MWh; and another located in Calvados, also with an installed capacity of 100 MW / 400 MWh. Both projects benefit from advanced grid connection locations at the transmission level and are built on a solid power grid infrastructure, with anticipated network constraints being very limited. Together, they will provide the French power system with a flexible capacity of 200 MW / 800 MWh.

Recurrent Energy is responsible for initiating and developing these two projects, including acquiring land, advancing grid connection, as well as managing permits and communicating with local stakeholders. BW ESS will acquire these projects, marking the first transaction between the two parties and also signifying BW ESS's entry into the French energy market. Recurrent Energy will continue to lead these projects during the remaining development phases, leveraging its local market knowledge, technical capabilities, and experience in delivering renewable energy and storage projects. Once the remaining development milestones are completed, BW ESS will take charge of building these assets and promoting their commercial operation. BW ESS plans to hold and operate these assets in the long term.

BW ESS CEO and Co-Founder Erik Str ø ms ø stated: "We are delighted to collaborate with Recurrent Energy in the next phase and to leverage BW ESS's expertise in long-term asset holding and operation as we move these assets towards the construction and operational stages. Entering France is an important milestone for BW ESS and a natural next step in the expansion of our global energy storage platform. These acquisitions immediately provide us with a platform in France that covers 200 MW / 800 MWh, and lay a solid foundation for building a considerable French asset portfolio. France has a strong nuclear power base, but with demand affected by weather and changing power generation structures leading to more unstable system conditions, the market's need for flexibility is also growing. Batteries can complement France's nuclear power base by providing rapid-response flexibility, helping to balance the system, absorb excess power, and provide low-carbon power at its most valuable times."

Recurrent Energy CEO Dylan Marx stated: "This transaction with BW ESS demonstrates our ability to create value by delivering high-quality BESS projects, while maintaining close involvement throughout the project development phase up to commercial operation. This effectively proves the strength of our BESS platform established in France, as well as our capability to continue to expand it. Once operational, these projects will provide flexible energy storage capacity to support grid stability, balance supply and demand, and facilitate the further integration of renewable energy into France's power system."

About BW ESS

BW ESS is a global energy storage asset holder and operator that is rapidly developing, delivering, and operating industry-leading projects.

The business is active in the UK, Australia, Italy, Germany, Spain, Sweden, and France. Currently, its operational battery energy storage systems ( BESS ) exceed 540 MWh, with another approximately 12 GWh in the construction/pre-construction phase, and the development pipeline covers several gigawatts.

BW ESS is subordinate to BW Group. Leveraging decades of experience in global infrastructure, it takes a long-term perspective on projects and partnerships, focusing on unlocking value throughout the entire lifecycle of energy storage assets.

About Recurrent Energy

Recurrent Energy is a subsidiary of Canadian Solar Inc, and it is also one of the largest and most geographically dispersed platforms in the world for the development, ownership, and operation of utility-scale solar and energy storage projects. With a team of leading internal energy experts in the industry, Recurrent Energy operates as the global development and power services business of Canadian Solar. For more information, please visit www.recurrentenergy.com.

About Canadian Solar

Canadian Solar is one of the largest solar technology and renewable energy companies in the world, founded in 2001 with its headquarters located in Kitchener, Ontario. The company is a leading manufacturer of solar photovoltaic modules; a provider of solar and battery storage solutions; as well as a developer, owner, and operator of utility-scale solar power generation and battery storage projects. Over the past 25 years, Canadian Solar has delivered nearly 180 million high-quality solar photovoltaic modules to customers worldwide. Through its battery storage solution business e-STORAGE, the company has shipped over 23 gigawatts of battery storage solutions to the global market, with an order backlog of $3.5 billion as of June 30, 2026. Since entering the project development business in 2010, Canadian Solar has developed, constructed, and connected 12.4 gigawatts of solar projects and 6.4 gigawatts of battery storage projects globally. Its geographically dispersed project development pipeline includes approximately 22 gigawatts of solar and 84 gigawatts of battery storage capacity, all at different stages of development. Canadian Solar is one of the most financially capable companies in the solar and renewable energy industry and has been listed on NASDAQ since 2006. For more information, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-looking Statements

Certain statements in this press release, including those regarding the company's expected future shipments, revenue, gross margin, and project sales, are forward-looking statements that involve various risks and uncertainties that could result in significant differences from actual outcomes. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the use of phrases such as “may”, “will”, “expect”, “anticipate”, “future”, “ongoing”, “continue”, “intend”, “plan”, “potential”, “prospect”, “guidance”, “believe”, “estimate”, “is / are likely to”, or their negative forms, or other similar expressions. These forward-looking statements include, but are not limited to: our expectations regarding global electricity demand and the adoption of solar and battery storage technologies; our growth strategy, future business performance, and financial condition; our transformation into a long-term clean energy asset holder and operator, as well as the expansion of our project pipeline; our ability to monetize our project portfolio, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations regarding project timelines, costs, and returns; competitive dynamics in the solar and storage markets; our ability to implement supply chain, manufacturing, and operational initiatives; capital acquisition, debt obligations, and compliance with contracts; our relationships with key suppliers and customers; technological advancements and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations.Other risks have been disclosed in the documents submitted by the company to the U.S. Securities and Exchange Commission, including its 20-F annual report filed on April 10, 2026. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance, or achievements. Investors should not rely excessively on these forward-looking statements. Except as required by applicable laws, Canadian Solar assumes no obligation to update the information contained in this press release. Unless otherwise stated, all information is as of today.

BW ESS Media Contact Person

Tamarindo Communications

Canadian Solar Inc. Investor Relations Contact Person

Wina Huang

Recurrent Energy Media Consultation

In and Arrimadas

SOURCE Canadian Solar Inc.