Sungrow, Samsung SDI launch USD-170m energy storage JV

Chinese solar inverter maker Sungrow Power Supply Co Ltd (SHE:300274) and Korean batteries manufacturer Samsung SDI Co Ltd (KRX:006405) have launched a USD-170-million (EUR 152m) energy storage joint venture.

The new firm, called Sungrow-Samsung SDI Energy Storage Power Supply Co Ltd, offers complete energy storage system (ESS) solutions that can reach an annual capacity of 2,000 MWh. These systems incorporate lithium batteries, power conversion systems (PCS) and energy management systems (EMS).

At the JV’s opening ceremony in Hefei, China, it signed two contracts for energy storage projects with planned capacities of 10 MWh and 8 MWh, respectively.

“The energy storage market is expected to be a key area where Sungrow is to expand its business based on close cooperation with Samsung,” said Renxian Cao, president of Sungrow.

(USD 1.0 = EUR 0.896)

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