Recently, Jingkong Energy, CREI, a subsidiary of China National Nuclear Corporation, and BYD Energy Storage signed overseas energy storage orders with a total scale of 3.5 GWh, involving countries such as Australia, Southeast Asia, and Latin America.

Driven by the acceleration of global energy transition and the continuous explosion of energy storage demand, Chinese energy storage companies have once again achieved good news in their overseas expansion. Recently, three domestic backbone enterprises in the energy storage field have signed contracts for overseas energy storage projects, with a total scale of 3.5 GWh, covering multiple mainstream application scenarios such as containerized battery energy storage systems and integrated photovoltaic storage systems. This not only demonstrates the core competitiveness of China's energy storage technology and production capacity, but also confirms the high recognition of China's energy storage products in overseas markets.

The 3.5GWh project signed this time is distributed in high growth energy storage regions such as Europe, Southeast Asia, and South America. These regions have become the core incremental areas of the global energy storage market due to the expansion of renewable energy installed capacity, upgrading of grid peak shaving demand, and the emphasis on energy security by various countries. The contracted companies are all leading players in the domestic energy storage industry chain, relying on mature lithium battery production and manufacturing capabilities, full scene energy storage system integration experience, and a complete overseas service network, successfully obtaining bulk orders. The project products will have high safety, long lifespan, and high adaptability as their core advantages, meeting the diverse needs of local renewable energy consumption, industrial and commercial electricity off peak, and off grid power supply guarantee. Some projects are expected to be launched and delivered within 2024, and fully connected to the grid operation will be achieved by 2025.

In recent years, China's energy storage industry has formed significant advantages in technology research and development, capacity scale, cost control, and other aspects. From core components to overall system integration, from standardized products to customized solutions, domestic enterprises have built a complete energy storage industry chain. Key indicators such as energy density and cycle life of lithium battery energy storage systems continue to be optimized, and costs have significantly decreased compared to five years ago, laying a solid foundation for overseas market expansion. At the same time, various countries have introduced energy storage support policies, and policy dividends such as the EU's "Net Zero Industry Act" and the US's "Inflation Reduction Act" continue to be released. Coupled with the energy supply demand generated by frequent global extreme weather events, the overseas energy storage market is expanding at an average annual rate of over 30%, providing vast market space for Chinese enterprises.

The concentrated landing of 3.5GWh overseas orders this time is not an isolated case. Data shows that in 2023, China's export volume of energy storage batteries will exceed 150 GWh, a year-on-year increase of over 200%, and the export value will exceed 100 billion yuan, with Europe, Southeast Asia, and South America becoming the main destinations. More and more Chinese energy storage companies are deeply integrating into the global energy storage industry chain by establishing overseas research and development centers, localized production bases, and improving after-sales service systems, transforming from "product going global" to "brand going global" and "technology going global".

Industry insiders say that with the advancement of global carbon neutrality goals, energy storage, as the core support of new power systems, will continue to have strong market demand. In the future, Chinese energy storage companies need to further increase their investment in technological innovation, focus on breakthroughs in key areas such as long-term energy storage and safe energy storage, strengthen their local operational capabilities, respond to compliance requirements and competitive challenges in the international market, continue to consolidate their leading position in the global energy storage track, and contribute Chinese solutions and strength to the global energy transformation.Editor/BianWenjun