The two giants signed an agreement

CATL and Sungrow, two giants in the new energy track, recently signed a contract to cooperate in the field of energy storage.

According to the official website of CATL, Zeng Yuqun, chairman of CATL, led a team to visit the headquarters of Sungrow Group. Formally signed a strategic cooperation agreement.

According to the agreement, CATL and Sungrow will give full play to their respective advantages and jointly develop the global integrated photovoltaic storage market. The two parties will expand cooperation in energy storage system product innovation and global application, jointly promote industrial synergy, and help the sustainable development of the new energy industry.

The energy storage market is generally considered to be the next trillion-scale market that may explode, and has great potential for development.

It is worth mentioning that the "2021 China Top 20 Energy Storage Ranking" shows that CATL has won two rankings: "2021 China's Top 20 Energy Storage Enterprises (Comprehensive)" and "2021 China's Top 20 Energy Storage Battery Enterprises". First place, Sungrow Power Co., Ltd. won the first place in the "Top 20 Chinese Energy Storage System Enterprises in 2021".

CATL is a global leader in new energy power batteries. Its main business focuses on the R&D, production and sales of new energy vehicle power battery systems and energy storage systems, and is committed to providing first-class solutions for global new energy battery applications.

The data shows that the current energy storage business has developed into an important growth engine other than power batteries in the CATL era, and the proportion of energy storage revenue has increased year by year. CATL's 2022 semi-annual report shows that in the first half of the year, the company achieved operating income of 112.971 billion yuan, a year-on-year increase of 156.32%; net profit attributable to the parent was 8.168 billion yuan, a year-on-year increase of 82.17%. Among them, the energy storage system revenue was 12.74 billion yuan, accounting for 11.27%, while the energy storage system revenue in the same period last year was 4.693 billion yuan, a year-on-year increase of 171.47%.

Public information shows that since its establishment in 1997, Sungrow Power (300274) has always focused on the field of new energy power generation. National key high-tech enterprise for sales and service. The company's core product photovoltaic inverter has passed the certification and testing of many international authoritative certification agencies such as TüV, CSA, SGS, etc., and has been sold in batches to more than 150 countries and regions around the world. In 2021, Sungrow's photovoltaic inverter shipments will be the world's largest. As of the first half of this year, the total installed capacity of inverter equipment in the global market has exceeded 269GW.

According to the recent research activities of Sungrow, the company's energy storage converter shipments ranked first in the world for six consecutive years; the installed capacity of lithium battery energy storage ranked first among Chinese enterprises for six consecutive years. This year, the company's energy storage target is 10 billion yuan, power stations and inverters will grow at a rate of 20%, and the annual revenue will reach about 33 billion yuan.