Sungrow, one of the largest PV inverter manufacturers, announced the official start of operations of Sungrow-Samsung SDI Energy Storage Power Supply Co., Ltd at a ceremony in Hefei, China.
The $170 million joint venture between Sungrow and Samsung is able to provide complete Energy Storage System (ESS) solutions incorporating lithium batteries, Power Conversion Systems (PCS) and Energy Management Systems (EMS), that can reach an annual capacity reaching up to 2,000 MWh.
“The requirements of a sustainable energy future continue to drive the renewable energy market forward. 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 Professor Renxian Cao, president of Sungrow. “Sungrow has always been committed to technical innovation, and we have strong faith in our ability to build benchmarks in the global energy storage market.”
The joint partnership has started quickly, with two energy storage contracts being signed at the opening ceremony, with planned capacities of 10 MWh and 8 MWh respectively.