Weekly Energy Storage Industry Update: Over 30 New Products Launched and Responses from 20+ Companies on US Tariff Impact

Last week (from April 7 to April 13), the activity within the energy storage industry continued to rise, with over 30 new products launched and more than 20 publicly listed companies responding to the impacts of tariff policies.

Orders and Achievements: Colin Electric secured a contract for a 38MWh energy storage project in the Maldives. Tesla reported an additional 10.4GWh of energy storage installations in Q1. Haier New Energy signed a procurement agreement worth 500 million yuan for energy storage. EVE Energy inked another order for 11GWh of collaboration. Guoxuan High-Tech signed multiple energy storage projects totaling 444MWh, while Yuneng Magic Cube landed a major deal in Japan worth over 2GWh.

Financing: Minshan Environmental Energy is preparing to list on the Beijing Stock Exchange, aiming to raise approximately 295 million yuan to enhance its energy storage and recycling projects.

New Products: Recently, leading companies such as Nandu Power, Hichain Energy, Zhiguang Energy, and Envision Power have launched over 30 new products. Notably, innovations include a 783Ah solid-state battery and large-capacity energy storage systems of 6.25MWh and 8MWh. The PCS products and technologies have evolved to support higher power outputs to accommodate large-capacity cells of 500Ah, 600Ah, and even 700Ah.

Projects: Significant contracts were signed for energy storage projects, including a 200MW/400MWh facility in Shucheng, Anhui, and another 200MW/800MWh project by China Electric Power Construction Corporation. Tibet has connected its largest photovoltaic-storage project to the grid, while Trina Solar partnered with Qinghai province to build a 200MW/800MWh grid-side energy storage station. The Huaneng Huashan shared energy storage project has also commenced, with a scale of 200MW/400MWh.

Collaborations: Pylon Technologies signed a strategic cooperation agreement with Suzhou Shengli New Energy to enhance commercial energy storage asset operations. Shanghai Cairi Energy entered a strategic partnership with Shenzhen Micmi Electric, focusing on the supply and development of energy storage system components. Rongjie Energy and Jiangsu Linyang Energy also signed a strategic cooperation agreement to advance innovations in green energy technology.

International Developments: Over 20 A-share listed energy storage companies, including Sungrow Power, EVE Energy, and Hithium, have responded to the impacts of the U.S. “reciprocal tariff” policy, stating that the effects are limited due to their low business volume in the U.S. Energy Vault, a Swiss gravity energy storage company, signed a contract for over 30GWh of energy storage in India. In Germany, the cumulative installed capacity of home solar storage systems has reached 15GWh, with a significant portion installed last year. In Australia, the Labour Party has pledged to introduce a $2.3 billion home battery subsidy program if re-elected.

Specific Company Updates:

• Financing: Minshan Environmental Energy plans to raise approximately 295 million yuan for various projects.
• Partnerships: Pylon Technologies and Suzhou Shengli New Energy announced a strategic cooperation agreement.
• New Products: Nandu Power launched a 20-foot ultra-large capacity energy storage system with a capacity of 8.338MWh.
• Orders: Colin Electric signed a contract for a 38MWh energy storage project in the Maldives.
• Projects: The 200MW/400MWh energy storage project in Shucheng, Anhui, has been signed.

Conclusion: The energy storage industry is demonstrating robust growth and innovation, with numerous new products, significant project developments, and strategic collaborations taking place on both domestic and international fronts.