Solar project developer said on Tuesday it completed connecting its inaugural solar storage project to the grid in Ningbo in China’s Zhejiang Province late last month.
Solar project developer Emeren Group said on Tuesday it has completed connecting its inaugural solar storage project to the grid in Ningbo in China’s Zhejiang Province on September 26.
The project has a capacity of 1.2 megawatt hours (MWh) and is backed by a private long-term power purchase agreement (PPA) with a local off-taker.
The group said it has been strategically designed to yield high returns through daily price arbitration, while emphasizing the company’s commitment to sustainable and financially responsible energy solutions.
ALSO SEE: EU to Target Chinese Steel for Subsidies After EVs, Wind Turbines
Emeren Group, which is listed in New York, describes itself as a leading global solar project developer, owner, and operator, with a pipeline of projects and Independent Power Producer assets totalling over 3 gigawatts (GW), as well as a storage pipeline of over 6 GWh across Europe, North America and Asia.
The company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries, mainly in Europe – and now China.
Emergen’s chief executive Yumin Liu said: “We are absolutely thrilled to witness the successful operation of our inaugural solar energy storage project in China. This project marks a major milestone and represents a defining chapter in our journey toward becoming a leading global renewable energy company.
“In addition to this accomplishment, we currently have a portfolio of projects in the planning and execution phases in China, including several commercial and industrial sized storage projects that are currently under construction.
“We plan to further expand our storage portfolio under our light IPP strategy. Furthermore, we remain steadfast in our commitment to executing our storage business strategies, solidifying our dedication to sustainable and innovative energy solutions.”
China’s installed solar capacity is expected to double to 1,000 gigawatts (GW) by the end of 2026 as the world’s second-largest economy continues to ramp up investment in renewables, energy research firm Rystad Energy wrote in a note published last month.
