On January 12, Gotion High-Tech announced that Hefei Gotion High-Tech Power Energy Co., Ltd. had received a notification from Anhui Province Energy Co., Ltd. (Wenergy). The notification stated that the consortium formed by Hefei Gotion and Southwest Electric Power Design Institute Co., Ltd. of China Power Engineering Consulting Group had won the bid for the first phase of the construction of Huaibei Wenergy Energy Storage Plant (103MW/206MWh). The total power volume of the project will reach 1GWh, the largest single lithium iron phosphate energy storage plant in China.

The Largest Single LFP Energy Storage Plant in China

Located in Songtuan Town, Huaibei City in Anhui Province, Huaibei Wenergy Energy Storage Plant belongs to Anhui Province Energy Co., Ltd., and the total volume of it is expected to reach 1GWh. The project adopts a comprehensive design and will be constructed in different phases. Phase I of the project will achieve 103MW/206MWh and is planned to be finished within 270 days. The winning bid price for this phase of the project was about RMB 394 million. Hefei Gotion High-Tech Power Energy Co., Ltd. is responsible for the construction of the DC side of the energy storage system.

After completion, the plant will become the largest single grid-side lithium iron phosphate energy storage plant in China.

According to the announcement, if the project is completed successfully, it will effectively handle the problems of large-scale new energy grid connection in the local area and ensure the safe and stable operation of the power grid. Meanwhile, it will also provide valuable experience for the commercial operation and market expansion to all energy storage systems nationwide.

For Gotion High-Tech, the successful bid will promote the all-round cooperation between Hefei Gotion and Anhui Province Energy Co., Ltd. in energy storage, zero-carbon industrial park and photovoltaic, help us accumulate experience in the energy storage business, enrich relevant product applications, adjust customer structure and further enhance the status and influence of Gotion in the energy storage market.

Concentrating on Energy Storage System for Future Development

According to BloombergNEF (BNEF), the total installed capacity of global energy storage systems was 63GW in 2020 and it is expected to reach 1,916GW in 2050, an annual compound growth rate of 18%. Driven by the "dual carbon" goals, the development of photovoltaic, wind power and other renewable energy will be essential to gradually replace fossil energy and realize peak carbon emissions in China. The "new energy + energy storage" model will play an important role in supporting the large-scale development of renewable energy and grid connections. In his address at the 2021 China New Energy and Energy Storage Global Forum, Li Zhen, Chairman of Gotion High-Tech, said, "Developing the energy storage industry has become a national strategy. The development of energy storage technology will be the pillar of the third energy revolution. With new opportunities in industrial development, Gotion High-Tech will follow the trend, focus on technological advancement and further promote the development of the energy storage industry. We will strive to lead the way in the industry".

Gotion High-Tech has actively implemented the strategic plan of "focusing on LFP batteries and ternary polymer lithium batteries to strengthening energy storage development". As a result, we enjoy rapid development in the energy storage business and have cooperated with various enterprises and units, including Huawei, China Tower, China Power Investment Corporation, Shanghai Electric and State Grid Corporation of China (SGCC). In addition, Gotion High-Tech also participated in the energy storage construction for the Beijing 2022 Olympic Winter Games and the Anhui branch of China Huaneng Group Co., Ltd. Our overseas business is also prosperous. We have cooperated with PJM to undertake two lithium iron phosphate energy storage projects, with a volume of 72MW/72MWh, set up in Illinois and West Virginia in the US. Meanwhile, we have also established a strategic partnership with JinkoSolar.

In addition, we have built an innovative big data platform for energy storage plants. Based on big data interconnection, the platform can monitor the energy data, operation efficiency, plant safety and temperatures to guarantee the safe operation of the energy storage plant.