Subsidiaries of state-run energy conglomerate China Energy Engineering Corp have started constructing two major solar plants and one of the largest energy storage systems in China, according to filings on the Stock Exchange of Hong Kong (HKEX).
Grid-connected energy storage deployments have enjoyed a compound annual growth rate (CAGR) of 74% worldwide in the years 2013 to 2018, with a “boom” in deployment figures expected over the next five years, analysis firm Wood Mackenzie has said.
NEC has now executed five grid-scale battery energy storage projects in China and been awarded another, winning deals in spite of what a company representative described as “aggressive” price competition from domestic vendors.
Chinese solar inverter manufacturer Sungrow not only continues to lead the global market for inverter shipments, the company’s energy storage business enjoyed huge growth in revenue during 2018.
A 100MWh battery energy storage system has been integrated with 400MW of wind energy, 200MW of PV and 50MW of concentrated PV (CPV) in a huge demonstration project in China.
VRB Energy, a maker of flow batteries headquartered in Canada and owned by a metal resources and mining company, said the first phase of a 40MWh flow battery project in China has now been commissioned.
Vanadium redox flow battery maker VRB Energy has begun commissioning a 3MW / 12MWh energy storage system project in Hubei, China, which is expected to help serve as a demonstrator for much larger projects to come.
Quoting an expected doubling in installed PV capacity over the next five years, a partnership between Chinese battery storage system maker BYD and European PV inverter company SMA is targeting the USA market, identifying it – along with Africa – as having “high growth potential” for the pair’s products.
