Why Canadian Solar Stock Was Soaring Today

In the energy sector on Wednesday, a north-of-the-border stock was producing the most energy. Canadian Solar (NASDAQ: CSIQ) was having quite a day on the exchange, as investors were bidding its shares up by almost 14% in late-session action. This was on the back of the company's news that it secured a new deal for its energy storage business.

Before market open today, Canadian Solar announced that its e-STORAGE unit had signed a set of agreements with privately held Aypa Power. Under those contracts, the Canadian Solar unit will provide its SolBank energy storage system to a pair of battery energy storage projects run by Aypa in Ontario, Canada's most populous province.

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Source Fool.com