Weekly Industry Update: Over 30 New Energy Storage Products Launched and 20 Companies Respond to US Tariff War

Last week (April 7-13), the activity level within the energy storage industry continued to rise. In terms of orders and performance, Corin 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; Yiwei Lithium Energy inked a cooperation order for 11GWh; Guoxuan High-Tech signed multiple energy storage projects totaling 444MWh; and Yuneng Mofang landed a significant order exceeding 2GWh in Japan.

In terms of financing, Mingshan Environmental Energy is aiming to raise approximately 295 million yuan through an IPO on the Beijing Stock Exchange to enhance its energy storage and recycling projects.

Regarding new products, over 30 leading energy storage companies, including Sandu Power, Haichen Energy, ZhiGuang Energy, and Envision Energy, launched new products recently. Notably, large-capacity energy storage cells and systems, such as the 783Ah solid-state battery and 6.25MWh and 8MWh energy storage systems, are becoming industry benchmarks. Power conversion systems (PCS) are evolving in response to these larger capacity cells, now offering higher power outputs to match 500Ah+, 600Ah+, and even 700Ah+ cells.

On the project front, contracts were signed for the 200MW/400MWh energy storage station project in Shucheng, Anhui; the 200MW/800MWh storage project by China Electricity Construction; Tibet’s largest integrated solar and storage power project has been connected to the grid; Trina Solar has partnered with Datong County in Qinghai Province to build a 200MW/800MWh energy storage station; and construction has commenced on Huaneng’s Huashan shared energy storage project, which has a scale of 200MW/400MWh.

In collaborative efforts, PI Energy signed a strategic cooperation agreement with Suzhou Shengli New Energy to enhance commercial energy storage asset operations; Cairi Energy partnered with Maime Electric for strategic cooperation; and Rongjie Energy entered a strategic partnership with Linyang Energy to work together on energy storage, heavy-duty truck battery swapping, and marine power sectors.

Internationally, over 20 A-share listed energy storage companies, including Sunpower, Yiwei Lithium Energy, Xinwand, Huabao New Energy, and Shouhang New Energy, responded to the impact of the U.S. “reciprocal tariffs” policy, with most companies reporting limited effects due to their low exposure to U.S. business. Additionally, Swiss gravity energy storage company Energy Vault signed a 30GWh+ energy storage contract in India; Germany’s home solar storage systems have reached a cumulative installation of 15GWh, a third of which was installed last year; the Australian Labor Party pledged to introduce a 2.3 billion AUD household battery subsidy if re-elected; and Copia Power secured $1.71 billion in financing for a large-scale solar and storage project with a capacity of 2200MWh.

Financing Details: Mingshan Environment Energy is preparing for an IPO on the Beijing Stock Exchange, aiming to raise 295 million yuan for projects related to user-side electrochemical energy storage, retired battery reuse and recycling, and other energy storage initiatives.

Partnerships: On April 7, PI Energy and Suzhou Shengli New Energy officially signed a strategic cooperation agreement to enhance their collaboration in commercial energy storage asset operations and innovation in solutions. Cairi Energy and Maime Electric also established a strategic partnership, focusing on deep cooperation in energy storage system components and product development. Rongjie Energy and Linyang Storage have teamed up to advance green energy technology in various sectors.

New Products: Sandu Power recently unveiled several energy storage products, including the CENTERL ULTRA 6.25MWh liquid-cooled energy storage system, which features dual form factor compatibility and a temperature-controlled system to optimize operational efficiency. Their CENTERLMAX 8.338MWh system set a new industry record for energy density. Haichen Energy introduced the ∞Cell 587Ah battery, achieving 94.5% efficiency and a lifecycle exceeding 10,000 cycles. Envision Energy showcased their 530Ah energy cell, promising high efficiency and lifecycle longevity.

Orders and Performance: Corin Electric signed an EPC contract for the “Maldives 18 Islands 38MWh Energy Storage System” with the Maldives Ministry of Tourism and Environment, valued at nearly 130 million yuan. In Q1, Tesla reported an increase in energy storage installations, totaling 10.4GWh, a year-on-year growth of 156.6%. Yiwei Lithium Energy secured additional strategic cooperation orders totaling 61GWh this year. Haier New Energy initiated a new model for energy storage collaboration worth 500 million yuan, targeting high-energy consumption enterprises.

Projects: The 200MW/400MWh energy storage station project in Shucheng, Anhui, is being constructed by Jin Chang Hanxing Energy Co., with a total investment of approximately 600 million yuan. A signing ceremony for a 200MW/800MWh energy storage project was held in Baixiang County, Hebei Province, marking a significant development for China’s energy storage capabilities.

International Developments: In response to new U.S. tariffs, over 20 A-share listed energy storage firms reported minimal impact on their operations. Energy Vault has established a partnership in India for a significant energy storage project, while Germany continues to expand its home solar storage capacity. The Australian government is proposing a substantial subsidy for household batteries, and Copia Power has successfully secured financing for a large-scale solar and energy storage initiative.