PVTIME – On 30 September 2024, SolaX Power Network Technology (Zhejiang) Co., Ltd. (SolaX Power, 688717.SH), a leading global provider of solar solutions, primarily energy storage systems and inverters, announced its intention to launch a large-scale energy storage project and R&D in Zhejiang Province, China.
An investment agreement has been signed between SolaX Power and the local government. A total of 1.05 billion yuan will be invested in the project. Construction will start within three months after the land grant contract is signed, the project will be completed within 24 months and will be operational within six months after completion.
Founded in 2012, SolaX Power’s mission is to create a clean and sustainable future through solar energy. It is a leading global provider of solar and storage solutions and one of Asia’s pioneering hybrid inverter manufacturers. It has been listed on the Shanghai Stock Exchange’s STAR since 3 January 2023. And its revenue and net profit showed a continuous growth trend from 2020 to the first half of 2023. It achieved operating revenue of 389,100,600 yuan, 832,666,400 yuan, 4,611,795,500 yuan and 3,399,058,500 yuan in the respective periods, while net profit was 33,064,300 yuan, 62,874,500 yuan, 1,134,010,800 yuan and 975,322,500 yuan, respectively.
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