Sungrow and Samsung launch JV for energy storage
Sungrow, the a photovoltaic (PV) inverter manufacturer, has announced the official start of operations of Sungrow-Samsung SDI Energy Storage Power Supply, a joint venture (JV) along with Samsung.
The US$170 million JV 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 2000 MWh.
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.
Professor Renxian Cao, president of Sungrow stated:
“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. 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.”
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