Listed company Shenzhen CLOU Electronics says it has secured a contract with a “famous American energy company” to supply an energy storage system totalling 485MWh in South America.
Lithium iron phosphate (LFP) will be the dominant battery chemistry over nickel manganese cobalt (NMC) by 2028, in a global market of demand exceeding 3,000GWh by 2030.
China’s share of the lithium-ion battery cell production capacity market is set to fall from 75% in 2020 to 66% in 2030, according to Clean Energy Associates in a new report.
China is targeting a non-hydro energy storage installed capacity of 30GW by 2025 and grew its battery production output for energy storage by 146% last year, state media has said.
A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed.
“Extensive works” to house two 125MW turbines have begun at Australia’s first new pumped hydro energy storage (PHES) plant in nearly 40 years, developer Genex Power has said.
The feasibility of building large-scale liquid air energy storage (LAES) systems in China is being assessed through a partnership between Shanghai Power Equipment Research Institute (SPERI) and Sumitomo SHI FW.
Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.
Sunamp, a Scotland-headquartered manufacturer of a thermal energy storage technology, has just signed an agreement with a distributor to target nearly US$70 million of sales in China and open a factory in the Asian country.
