Canadian Solar Inc. (NASDAQ: CSIQ) saw its stock surge 5.44% in pre-market trading on Wednesday following announcements of two significant energy storage contracts secured by its subsidiary, e-STORAGE. These deals showcase the company's expanding footprint in the rapidly growing energy storage market, boosting investor confidence.

The first contract involves delivering a massive 1.86 GWh DC energy storage solution for the Skyview 2 Project in Ontario, Canada. This project, with a capacity of 411 MW/1,858 MWh, will utilize approximately 390 units of e-STORAGE's SolBank 3.0 energy storage solution. Shipments are set to begin in February 2026, with commercial operations scheduled for the second quarter of 2027. Additionally, the company will provide a 21-year Long-Term Agreement to ensure system performance and reliability.

The second deal involves a 20.7 MW / 56 MWh DC energy storage project in Lower Saxony, Germany. This agreement includes a 20-year Long-Term Service Agreement, with shipments starting in March 2026. These contracts not only demonstrate Canadian Solar's technological capabilities but also provide long-term revenue streams, potentially explaining the significant stock price jump.