Ningde Time Takes The Largest PV Energy Storage Order in The US
Oct 18, 2022
October 18 - Ningde Times today announced an agreement with Primergy Solar LLC (Primergy), a US utility and distributed PV+storage development operator, for the exclusive supply of batteries for the Gemini PV+storage project.
The Gemini project is located near Las Vegas, Nevada and represents a total investment of US$1.2 billion (approximately RMB 8.628 billion).
In fact, Tesla also has a PV energy storage business in the United States, and in 2019 Tesla launched a large energy storage system, Megapack, to lay out the global utility energy storage industry. However, this time, Tesla does not appear in the cooperation catalogue.
It is reported that Gemini deploys 690 MWac/966 MWdc solar panels and 1.416GWh energy storage system, which will become one of the largest PV energy storage projects in the US when the project is completed.
Primergy designed the DC-coupled system for the Gemini project to maximise efficiency by combining solar modules with Ningde's energy storage system in an innovative way.
Ningde Times will provide Primergy with Ener One, a long-life, highly integrated and safe outdoor liquid-cooled energy storage cabinet, which uses lithium iron phosphate cells with high thermal stability and a cycle life of up to 10,000 cycles, and will guarantee the stable operation of the Gemini project and meet Primergy's demand for safe and reliable operation of the project.
As domestic and overseas orders continue, Ningde Times' performance has also seen significant growth. A few days ago, Ningde Times released a preview of its performance in the first three quarters of 2022, estimating a net profit attributable to the mother company of 16.5 billion yuan - 18 billion yuan in the first three quarters, an increase of 112.87% - 132.22% year-on-year.
Among them, the third quarter net profit of 8.8 billion yuan 9.8 billion yuan, an increase of 169.33%-199.94% year-on-year. And Ningde Times net profit of 8.168 billion yuan in the first half of the year. This also means that the third quarter net profit has surpassed the sum of the first two quarters.
