Shanghai (ZXZC)- CATL inked an agreement with CSI Solar, a majority-owned subsidiary of the global energy provider Canadian Solar Inc., earlier this week, to carry out the strategic cooperation on a slew of business including energy storage and new energy technologies, the Chinese battery giant announced via its WeChat account.

CATL, CSI Solar signing agreement; photo credit: CATL

Under the agreement, CATL and CSI Solar will forge a strategic partnership to collaborate in the fields of battery storage system solutions, supply of lithium-ion battery modules, operation & maintenance services of battery storage projects, as well as innovative renewable energy technology.

“The partnership leverages CATL's innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers. Our common goal is to use solar and battery storage technology to support a cleaner, smarter and more reliable global grid, and do our part in contributing to the acceleration of the clean energy transition,” said Dr. Shawn Qu, Canadian Solar's Chairman and CEO.

Canadian Solar is a Canada-based company that manufactures solar PV modules and runs large scale solar projects. According to Dr. Shawn Qu, the company currently has a global battery storage pipeline of 21 GWh, 2.9 GWh of which are under construction. Its subsidiary CSI Solar submitted in June 2021 the application documents for its potential initial public offering ("IPO") and listing on the Science and Technology Innovation Board. The documents have been received by the Shanghai Stock Exchange.