Recurrent Energy Completes Sale of Two 100 MW / 400 MWh BESS Projects in France to BW ESS

The 200 MW / 800 MWh portfolio was sold to BW ESS, demonstrating Recurrent Energy's ability to develop and monetize high-quality battery energy storage projects.

KITCHENER, ON, October 29, 2026 - Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a leading global developer, owner, and operator of solar and energy storage assets, today announced the sale of two standalone BESS projects in France to BW ESS, a global energy storage owner-operator.

The portfolio comprises two projects: Baixas, located in the Pyrénées-Orientales department, with a capacity of 100 MW / 400 MWh, and Coquainvilliers, located in Calvados, with a capacity of 100 MW / 400 MWh. Both projects benefit from advanced transmission-level grid connection positions and have been developed around strong grid fundamentals, including very limited expected network constraints. Together, they will provide 200 MW / 800 MWh of flexible capacity to the French electricity system.

Recurrent Energy originated and developed both projects, including securing the land, advancing grid connection, and managing permitting and local stakeholder engagement. BW ESS will acquire the projects, marking the first transaction between the two companies and BW ESS' entry into the French energy market. Recurrent Energy will continue to lead the projects through the remaining development phase, drawing on its local market knowledge, technical capabilities, and experience in delivering renewable energy and storage projects. Once the remaining development milestones have been achieved, BW ESS will lead the delivery of the assets through construction and into commercial operation. BW ESS intends to own and operate the assets over the long term.

Erik Strømsø, CEO and Co-Founder of BW ESS, commented: "We are excited to work with Recurrent Energy through the next phase and to apply BW ESS' long-term owner-operator expertise as we bring these assets into construction and operation. Entering France is a significant milestone for BW ESS and a natural next step in the expansion of our global energy storage platform. These acquisitions give us an immediate 200 MW / 800 MWh platform in the country and provide a strong foundation for building a sizeable French portfolio. France has a strong nuclear base, but it also has a growing need for flexibility as weather- sensitive demand and an evolving generation mix create more variable system conditions. Batteries can complement France's nuclear backbone by adding the rapid-response flexibility needed to balance the system, absorb surplus power, and make low-carbon generation available when it is most valuable."

Dylan Marx, CEO of Recurrent Energy, said: "This transaction with BW ESS showcases our ability to create value through the delivery of high-quality BESS projects, while remaining closely involved in their development through to commercial operation. It is a strong testament to the BESS platform we have built in France and our ability to continue scaling it. Once operational, the projects will provide flexible storage capacity to support grid stability, balance supply and demand, and facilitate the further integration of renewable energy into the French electricity system."