PR88190

SHANGHAI, Feb. 23, 2021 /PRNewswire=KYODO JBN/ --

Shanghai Electric Guoxuan New Energy Technology Co., Ltd ("Shanghai Electric

Guoxuan" or "the Company") and Pacific Green Technologies, Inc. ("Pacific

Green" or "PGTK") have signed a memorandum of understanding on the strategic

manufacturing of battery energy storage systems. The two parties will leverage

their respective advantages and resources to explore new energy storage system

projects on an international level, paving the way for Shanghai Electric

Guoxuan's entry into the global high-end energy storage market.

Pacific Green will oversee project implementation through its subsidiary

Pacific Green Energy Storage Technology Co., Ltd. Drawing on its experience in

the procurement and development of international energy storage projects, its

scope includes system design, integration, and commercial optimization.

Meanwhile, Shanghai Electric Guoxuan, a joint venture established in December

2017 between Shanghai Electric (SEHK: 02727, SSE: 601727) and Gotion High-Tech

(SZSE: 002074), will leverage its expertise as a leading supplier to provide

lithium battery systems.    

Shanghai Electric Guoxuan focuses on the technology sectors of energy storage

batteries and energy storage system integration. Its comprehensive business

coverage includes the R&D, sales, and services of lithium battery storage

systems, exploring advanced lithium battery storage materials, batteries,

battery management, and full industry chain integrated systems. The Company has

developed two long-life lithium iron phosphate batteries, which leverage

advanced technology to optimize the material design and production processes.

In addition to withstanding overcharging, short circuits, and overheating,

these batteries boast industry-leading life cycles, meeting the high safety and

long-life requirements of energy storage.

In December 2018, Shanghai Electric Guoxuan began laying the foundation for its

Nantong lithium battery industrial base, with a planned capacity of 10GWh and a

total project investment of RMB3 billion. On September 29, 2020, the Nantong

base's RMB 1.5 billion, 5GHw Phase 1 was officially completed and launched,

boasting world-class production lines, intelligent production, and a factory

digitization rate of 85%.

Other key domestic projects include:

-Large-scale energy storage projects in Anhui, Qinghai, and more: Since 2017,

Shanghai Electric has developed a number of energy storage projects in 13

provinces, cities, and autonomous regions across China, focusing primarily on

energy microgrids, industrial and commercial energy storage, new energy

storage, shared photovoltaic storage, and energy storage with integrated

charging.

-The Qinghai 32MW/64MWh shared energy storage project: An innovative first in

new energy storage, Shanghai Electric launched its full industrial chain

solution connecting source, network, charge, and storage through a new "shared

energy storage" model on December 26, 2020.

-Chongming Internet+ smart energy project: Since 2018, Shanghai Electric has

implemented a series of smart engineering solutions for Xin'an Village, Sanxing

Town. The project generates electricity with 100% renewable energy, adding an

energy storage battery system, achieving peak cut, and configuring a set of

reactive power compensation equipment to improve power quality. The energy

management system controls both the on-grid and off-grid hybrid systems while

ensuring electricity to lighting systems, charging stations, and other public

facilities. As of the first half of 2020, the project celebrated more than 550

days of safe and successful operations, with a cumulative power generation of

nearly 320,000 kWh, delivering nearly 190,000 kWh of clean, green energy to the

grid. This means that carbon dioxide emissions have been reduced by

approximately 320 tons, the equivalent of planting nearly 120 trees.

-5G base stations batteries: Shanghai Electric Guoxuan has thus far achieved

sales of more than RMB100 million at home and abroad, to provide lithium iron

phosphate batteries to 5G base stations.

SOURCE: Shanghai Electric