SolaX Power Invests 1.498 Billion USD in Energy Storage in China

SolaX Power announces a 1.498 billion USD investment to develop a smart energy storage facility in Zhejiang Province, strengthening its role in the global energy transition.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

SolaX Power, a global leader in energy storage solutions, has announced a significant investment of 1.498 billion USD to create a cutting-edge research and manufacturing facility in China. This ambitious project will focus on utility-scale energy storage and integrated smart energy systems, illustrating SolaX’s commitment to promoting a global shift towards cleaner energy.

This new investment comes at a critical time when the expansion of renewable energy requires robust storage solutions to ensure the resilience and sustainability of power grids. The ability to store and deploy energy efficiently is becoming essential, especially with the growth of solar and wind energy. SolaX aims to meet this growing demand by providing advanced storage solutions that support both commercial and utility sectors.

Strengthening Innovation in Energy Storage

By expanding its production capacity, SolaX positions itself as a leader in energy storage innovation. The solutions proposed by the company aim to enhance grid stability and energy independence, which are key components for achieving global decarbonization goals. The 1.498 billion USD investment will primarily be allocated to fixed assets, including research and development (R&D) laboratories, testing centers, and high-tech manufacturing lines. These infrastructures will accelerate SolaX’s innovation pipeline, facilitating the rapid launch of new technologies to the market while optimizing product efficiency and scalability.

Expansion of Research and Production Capacities

The deployment of new R&D and manufacturing facilities reflects SolaX’s commitment to pushing the technological boundaries in energy storage. These new capabilities will not only increase production but also improve the quality and performance of the solutions offered. By investing heavily in these infrastructures, SolaX demonstrates its dedication to delivering cutting-edge products that meet the evolving needs of the global energy market.

Smart and Sustainable Energy Systems

In addition to storage, SolaX’s new facility will also focus on developing smart energy systems that integrate solar power, storage, heating, and electric vehicle (EV) charging. By leveraging artificial intelligence (AI), the Internet of Things (IoT), and big data, SolaX aims to create systems that optimize energy usage in real time. This will enable more flexible and user-friendly energy management, promoting a decentralized approach to energy management.

Impact on Decentralized Energy Management

These smart systems will play a crucial role in the future of decentralized energy management, offering users greater control over their energy consumption and reducing reliance on traditional grids. By integrating various energy sources and optimizing their use, SolaX contributes to the creation of more resilient and sustainable energy solutions. This innovative approach aligns with current trends aimed at decentralizing and diversifying energy sources for greater efficiency and sustainability.

Commitment to the Global Energy Transition

SolaX’s investment in energy storage and smart systems underlines its pioneering role in the global energy transition. By developing advanced solutions that address the current challenges of renewable energy, SolaX significantly contributes to achieving sustainability and carbon reduction goals. This commitment also strengthens SolaX’s position in the international market, enabling the company to effectively meet the diverse needs of its clients and partners worldwide.

Operator Fullmark Energy has finalised a $46mn investment tax credit transfer linked to its 125MW Redwood storage portfolio in Southern California, strengthening its ability to pursue further growth in the sector.
Eos Energy confirmed the expiry of its public warrants following the exercise of 6.7 million units, generating $76.9mn to finance its industrial projects in the United States.
Trina Storage and Pacific Green Energy Group have signed a memorandum of understanding for the supply of 5GWh of battery systems by 2028, reinforcing their activities in the Australian and international energy storage market.
HyperStrong commits to purchase at least 200 GWh of battery cells from CATL by 2028, as part of a strategic partnership aimed at structuring a global energy storage ecosystem.
A report urges European states to rapidly deploy long-duration energy storage technologies, deemed essential to avoid building obsolete gas assets and reduce grid costs by 2040.
LibertyStream has signed a memorandum of understanding with Packet Digital to secure a local supply of lithium carbonate for industrial and military battery production, backed by approximately $2.7mn in funding.
US-based Rondo Energy and SCG Cleanergy have completed the installation of a 33 MWh heat battery at a cement plant in Thailand, the first of its kind in Southeast Asia, delivering steam to power a turbine for industrial electricity generation.
Entech and Primeo Energie create Primtech Batteries to develop battery electricity storage projects in France and the European Union, targeting 100 MW installed by 2029.
Three New York public high schools are introducing a new energy storage module this year, through a partnership between NineDot Energy and Solar One aimed at preparing students for careers in distributed energy.
Nuvve Holding Corp. plans three 2MW battery installations in Eastern Zealand to strengthen the Danish grid and optimise revenues through its proprietary software platform.
HS Hyosung partners with Umicore to produce silicon anodes, a key material for next-generation batteries, through a €120 mn investment to strengthen its position in energy storage.
LG Energy Solution partners with South 8 Technologies to develop lithium-ion batteries capable of operating at -60 °C, strengthening its position in the space sector alongside KULR Technology Group and NASA.
Masdar commits to developing a 300MW/600MWh battery storage system in Uzbekistan, marking a major step in modernising the national grid and securing investments in renewable energy.
Jabil and Inno will co-develop a 15,000 sqm plant in Rayong, Thailand, to manufacture metal enclosures for battery energy storage systems, aiming to enhance vertical integration and secure supply chains.
Adani Group launches a 1126 MW project in Khavda, marking its first entry into energy storage, with one of the largest BESS systems ever built at a single site.
Kuwait is preparing a battery storage project with a capacity of up to 6 GWh to stabilise its power grid and address rising electricity demand.
Quino Energy secures $16mn in funding to scale global production of its organic electrolytes, with strategic support from investor Atri Energy Transition.
China's Envision Energy will supply a 680MW battery storage system to UK-based Statera Energy as part of the Carrington project, one of the largest in the country to reach financial close.
Girasol Energy begins grid-scale battery aggregation with two facilities totalling 4MW in Japan, marking a strategic expansion into balancing markets.
Driven by the recovery in the raw materials market, CBAK Energy posted a sharp rise in revenue in the third quarter, while its battery business enters a complex industrial transition.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.