Root-Power is pleased to share that we have partnered with e-STORAGE, which is part of the Company’s majority-owned subsidiary Canadian Solar Inc.

We have awarded Canadian Solar Inc a contract of 11 MW AC / 22 MWh AC energy storage solutions The energy storage solutions will be used for Root-Power’s Coryton Energy Park project, in Corringham, Essex, England. The project is slated for completion in the first quarter of 2025.

e-STORAGE and Root-Power have entered into an Energy Storage Supply Agreement and Long-Term Service Agreement. This is the first of many projects with plans to build over 1 GW energy storage systems in the UK, over the next three to four years.

The Coryton project will employ Canadian Solar’s SolBank 3.0, the Company’s latest proprietary energy storage solution. SolBank 3.0 achieves over 5 MWh nominal capacity within a 20-ft container, marking a 45% increase in product-level capacity compared to the previous iteration. Certified under UL standards for safety and performance, SolBank 3.0 features high-density lithium-iron-phosphate (LFP) cells, an active balancing Battery Management System (BMS), and an innovative liquid cooling Thermal Management System (TMS).

With its superior energy density and compact design, SolBank 3.0 offers significant land cost savings, making it an economical choice for large-scale projects adapted to UK project requirements. The battery’s intelligent control system and plug-and-play setup also streamline commissioning, ensuring projects are completed on time.

Neil Brooks, Managing Director of Root-Power, said: “We look forward to working with e-STORAGE to enhance the UK’s grid at Coryton Energy Park, and we plan to add 150 MWh of storage capacity to our portfolio in 2024 and 2025. We selected the e-STORAGE product based on Canadian Solar’s proven track record in the delivery of these systems and the Company’s strong performance in ESG and supply chain management.

As the UK continues to decarbonize, energy storage will be crucial for storing renewable energy on days when it may not be as windy or sunny to meet our energy needs. We are committed to contributing to a greener, more sustainable future and growing the UK’s renewable energy landscape.”

Colin Parkin, President of e-STORAGE, added, “We are excited to announce another project in the UK, delivering the new SolBank 3.0 to Coryton for our partners at Root-Power. At e-STORAGE, are proud to be a trusted partner in the country’s transition to green energy.”

We’re thrilled to announce the appointment of global ESG advisory firm, Sodali & Co, as we look to develop a market-leading ESG policy and the goal of having our first sustainability report by FY2025.

Sodali & Co holds over 50 years of experience in blue chip ESG and will support Root-Power to develop a successful, holistic approach that will enable the creation of a mature ESG policy. This will be supported by high-quality data and reporting structures aligned with our wider mission and values.

The advisory firm will also be advising us on our sustainability framework, setting a clear direction for our team to follow. The framework will bring together core topics and priorities that have a material impact on our operations.

Neil Brooks, Managing Director at Root-Power said: “We are delighted to have appointed Sodali & Co to help Root-Power develop a market-leading ESG strategy.

“Sodali & Co’s extensive experience developing ESG policy for other leading UK energy companies, and their specialist team’s significant depth of experience engaging with key ESG stakeholders will allow us to better demonstrate and review our ESG credentials.

“With increasing stakeholder attention on ESG concerns, it is crucial Root-Power invests in appointing the right team to improve the quality of our ESG matters at such a critical time in our mission to contribute to a green, more sustainable future for the UK’s energy landscape.”

Sodali & Co has experience working with organisations such as Engie, Philips, Iberdrola and Rio Tinto.

Charles Nelson, Managing Director at Sodali & Co said:

 “We’re delighted to be working with Root-Power and YLEM as they advance and strengthen their ESG policies. We’re excited to help them build a foundation of best-practice that supports their current business objectives, while also preparing them for the wider strategic transformation of sustainability data, and climate transition planning.”

About Sodali & Co

Sodali & Co advises corporate clients worldwide as they navigate the complex dynamic of shareholder and stakeholder interests. The firm supports business leaders in anticipating issues, making better, more informed decisions, and communicating more effectively to drive alignment and accelerate performance.

From headquarters in New York, London, and Sydney to offices in major capital markets, Sodali & Co serves over 2,000 corporate clients in 70 countries, across three practice areas of Shareholder Services, Governance & Sustainability, and Strategic Communications. In addition to listed and private companies, its clients include financial institutions, mutual funds, ETFs, stock exchanges, and membership associations.