TEL-AVIV, Israel, Jan. 3, 2022 /PRNewswire/ -- Sungrow, the global leading inverter and energy storage solution supplier and Enlight Renewable Energy, an Israeli traded (TASE: ENLT) Developer and IPP with global operation across the US, Europe and Israel, announced today a joint agreement which in that Sungrow will supply Enlight with 430 MWh of its flagship liquid cooled energy storage system (ESS). The contract is the largest ESS agreement signed to date in Israel, bolstering the country's energy transition and marking a massive scale-up in installations for the newly launched system.
Last year the Israeli government introduced its goal of generating 30% of its electricity needs via renewables by 2030. Solar PV is expected to contribute to most of it, corresponding to 26% of Israel's renewable electricity in 2030, indicating 12 GW to 15 GW of new PV installations in the coming decade. To reach such a high percentage of solar usage, Israel is currently aiming to develop an advanced solar-plus-storage system to ensure a stable and reliable electricity grid.
Sungrow will supply 430 MWh of its latest 4-hour liquid cooled ESS, a combination of a contracted 230 MWh for stage 1 and a locked 200 MWh battery for stage 2, which enables profitability, flexibility and safety.
The capital and operating expenses of Sungrow's ESS are reduced as a result of pre-assembly, easy on-site installation, and a more effective cell working environment which slows capacity loss substantially. With the modular DC/DC converter, the battery rack can be fully charged and discharged. Further, the system is optimized in safety performance because of its standout anti-leakage design and an integrated aerosol fire fighting system. Combing with the solar system, the highly integrated ESS can be widely used in multiple applications, including energy shifting, ancillary service, like ramp rate control, reactive power provision and more.
"We are excited to announce our first strategic procurement agreement in the energy storage arena via the selection of Sungrow's New ESS Li-ion Solution. We believe that the combination of Sungrow's product leadership and CATL's cell technology will provide us with the superior solution we need for our advanced solar plus battery projects, driving best-in-class plant performance," said Gilad Yavetz, CEO of Enlight Renewable Energy.
"Following a stringent selection process including visits to Sungrow's ESS reference sites and manufacturing facility, and strict technical specifications, we are proud to be selected as the solution provider for Enlight's 430 MWh project in Israel, a landmark of installations which represents our commitments to the decarbonization process that Israel is leading," said Tzvi Ben David, Country Manager of Sungrow Israel.
James Wu, Vice President of Sungrow also commented, "The advanced liquid cooled ESS technologies we offer make it easier for our customers to turn more solar energy into assets. Israel is the key market for Sungrow to expand the global business. The booming of renewable energy entails a broader trajectory for energy storage development. Through our efforts, we have seen an intense desire by the people and the government to continue evolving in ways to the grid parity and a cleaner future."
Israel, though a country with scarce land and natural resources, attaches great importance to technological innovation. As one of the most innovative and energetic PV and ESS players, Sungrow made its first entry into the Israeli market two years ago and has built a professional local team offering responsive service. Adding the 430 MWh project to its portfolio, the Company will gain over 50% of the Israeli market share in 2022. The Company endeavors to create value through its technology initiatives and application teaming up with more partners.
About Enlight Renewable Energy
Traded on the Tel Aviv stock exchange (TASE: ENLT), Enlight is a leading renewable energy company which focuses on initiation, development, financing, construction and operation of renewable energy generation projects. The company operates in Israel, Europe and the United States, with a diversified portfolio of operating projects and projects under construction and pre-construction, with a total generation capacity of 2.2 GWDC and total energy storage capacity of 0.5 GWh. In addition, the company owns an additional 14.8 GWDC pipeline of generation capacity and 6.9 GWh of energy storage pipeline in various stages of development. For more information, visit https://enlightenergy.co.il.
About Sungrow
Sungrow Power Supply Co., Ltd ("Sungrow") is the world's most bankable inverter brand with over 182 GW installed worldwide as of June 2021. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 24-year track record in the PV space, Sungrow products power installations in over 150 countries. Learn more about Sungrow by visiting www.sungrowpower.com.
Photo - https://mma.prnewswire.com/media/1718153/The_430_MWh_Energy_Storage_Contract_Signing_between_Enlight_and_Sungrow.jpg
Logo - https://mma.prnewswire.com/media/1344575/Logo.jpg
