PVTIME – Deye Technology Co., Ltd. has just made an important announcement. Its wholly owned subsidiary, Deye Energy Storage Technology Co., Ltd. is about to embark on an ambitious project in Cixi City, Ningbo. The plan is to build a commercial and industrial energy storage production line with an annual capacity of 16GWh.
The project will be implemented in two phases. The first phase will require an investment of no less than 895 million yuan in fixed assets to achieve a capacity of 7GWh. Subsequently, the second phase will require a fixed asset investment of at least 1.232 billion yuan to reach a capacity of 9GWh.
This substantial investment marks a crucial step in Deye Technology’s strategic expansion into energy storage. In recent years, Deye has been steadily shifting its focus from its traditional home appliance business to new energy segments, including photovoltaic inverters and energy storage systems. The 16GWh project will further optimise its energy storage industry chain. By integrating operations from core component manufacturing to system integration, Deye aims to create a seamless business cycle.
With the continuous growth of commercial and industrial energy storage demand in China, the completion of this project is expected to open up new avenues for Deye Technology to enhance its performance. As the company moves forward with this project, it will undoubtedly reshape its position in the highly competitive energy storage market. Stay tuned for further updates as Deye’s energy storage ambitions unfold.
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