Latest News in Energy Storage

The energy storage sector has been making headlines with various exciting developments. Here are the latest updates:

<h2>1. Sungrow Reports Record Revenue and Profits</h2>
On April 25, Sungrow Power Supply Co., Ltd. announced its annual report for 2024, revealing a global shipment of <b>28 GWh</b> of energy storage systems. The company achieved a revenue of <b>77.857 billion yuan</b>, reflecting a year-on-year growth of <b>7.76%</b>. The gross profit margin increased to <b>29.94%</b>, thanks to brand premium, product innovation, and economies of scale, with a net profit attributable to shareholders of <b>11.036 billion yuan</b>.

<h2>2. Nandu Power's Solid-State Battery Launch</h2>
On April 26, Nandu Power announced a significant rebound in its lithium battery and energy storage performance, launching a new <b>783Ah solid-state battery</b>. The recovery is attributed to high prices in the battery recycling segment, despite a decline in product gross margins.

<h2>3. Establishment of Energy Storage Construction Association</h2>
On April 25, the China Electric Power Construction Enterprise Association established the Energy Storage Construction Sub-Association in Beijing. The event, attended by Vice President Yin Song, focused on collaborative development within the energy storage sector.

<h2>4. CATL's Share Buyback</h2>
Contemporary Amperex Technology Co., Limited (CATL) announced on April 25 that it has repurchased <b>1.0753 million shares</b> at a maximum price of <b>237.38 yuan per share</b> as part of its share buyback program.

<h2>5. Launch of New Battery Production Base</h2>
On April 24, construction officially began on CATL's new battery production base in Luoyuan. This project is expected to generate <b>40 GWh</b> of batteries annually, with a total investment of <b>6.5 billion yuan</b>.

<h2>6. Market Adjustments in Lithium Battery Investments</h2>
Due to previous rapid expansions leading to structural overcapacity, the lithium battery industry is now experiencing a slowdown in investment and capacity expansion, as companies reassess their projects in light of market conditions.

<h2>7. Jiangxi Province Implements Time-of-Use Pricing</h2>
The Jiangxi Development and Reform Commission announced changes to the time-of-use pricing mechanism, introducing a <b>2-hour afternoon low tariff</b> outside of winter months to encourage energy storage solutions among commercial users.

<h2>8. Hefei's Ambitious Energy Storage Goals</h2>
The Hefei Municipal Government has set a target to establish <b>60 new energy storage stations</b> by the end of 2025, with a total installed capacity exceeding <b>1 GW</b>.

<h2>9. BYD and Haibo Si Chuang Win Bids</h2>
On April 25, BYD and Haibo Si Chuang were selected as candidates for the procurement of a <b>50MW/100MWh</b> energy storage system for the China Resources Power's Nansha independent energy storage project.

<h2>10. Focus on Solid-State Batteries</h2>
On April 25, GAC Group and Guangzhou Industrial Investment Group deepened their strategic cooperation, focusing on solid-state battery technology and resource integration within the electric vehicle industry.

<h2>11. Chengdu's Policy for Enhanced Power Supply</h2>
On April 27, Chengdu's government released new policies aimed at enhancing the city’s electricity security, prioritizing land allocation for new energy storage projects.

<h2>12. Announcement of EPC Bids in Xinjiang</h2>
On April 26, the EPC candidates for a <b>200MW/800MWh</b> grid-connected energy storage project in Shule, Xinjiang, were announced, highlighting the ongoing expansion in energy storage infrastructure.

<h2>Conclusion</h2>
The energy storage sector continues to grow and evolve, driven by technological advancements and supportive government policies. Stakeholders are encouraged to stay informed about these developments as they present opportunities for innovation and investment.