China’s independent power producer CGN New Energy has announced the results of its 2025 procurement for lithium iron phosphate (LFP) battery energy storage systems, which will be installed alongside solar and wind plants as well as standalone facilities.
The procurement exercise has attracted 50 battery energy storage companies but only seven have emerged as winners. The lowest bid stood at CNY 0.458/Wh (US$63/kWh). The procurement was structured into seven lots, each with a capacity of 1.5 GWh. Lots 1 to 3 comprised grid-forming systems with a combined capacity of 4.5 GWh, while lots 4 to 7 consisted of grid-following systems, totaling 6 GWh.
Haibosichuang, Nanrui Relay Protection and CRRC Zhuzhou Institute were shortlisted and pre-winning bids for lots 1-3 at CNY 0.533/Wh, CNY 0.558/Wh and CNY 0.519/Wh respectively. Jinpan Technology, Konka Smart Energy, BYD, and Kelong Electronics were shortlisted and pre-winning bids for lots 4-7 at CNY 0.463/Wh, CNY 0.481/Wh, CNY 0.469/Wh, and CNY 0.474/Wh respectively. A total of 50 companies submitted bids in both grid-building and grid-following lots. 33 companies were bidding for the three grid-forming lots, with an average bid of CNY 0.6067/Wh. The lowest bid was CNY 0.4977/Wh, and the highest bid was CNY 1.0422/Wh. Only four companies quoted more than CNY 0.9/Wh, and the rest were less than CNY 0.66/Wh. A total of 47 companies bid for the four grid-following lots, with an average bid of CNY 0.489/Wh. The lowest bid was CNY 0.458/Wh. Nearly 80%, or 37 companies, bid less than CNY 0.5/Wh. The highest bid was CNY 0.602/Wh, which was also the only bid exceeding CNY 0.6/Wh.
