【Industry Briefs】 Energy Storage Intelligence Summary (April 22)

Published AM GMT+8 GMT+8, April 23, 2025,
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Industry Research
CATL 2024 Annual Report: Steady Lithium Battery Demand, Capacity Expansion, and Upcoming Hong Kong IPO
Tags: #EnergyStorage #Industry
Recently, CATL released its 2024 annual report, stating that although lithium battery shipments have increased, the growth rate is lower than the industry average The demand for power batteries and energy storage batteries has increased, resulting in a decrease in revenue but a stable gross profit margin CATL maintains a dominant position in the power battery market, while also maintaining a high market share in the energy storage battery sector In addition, SunGrow Company is expected to win the bid for the State Grid Xuji 500MW/1000MWh energy storage system procurement project, which is divided into three phases with a budget of 700 million yuan In addition, the Somali government has opened a tender for an 8MW solar power plant and a 20MWh battery energy storage system project, while the Platte River Power Authority in Colorado, USA has also advanced a large-scale battery energy storage project
CATL's 2024 annual report indicates that while lithium battery shipments grew, the pace lagged behind industry averages. Demand for both power and energy storage batteries increased, with revenue declining but gross margins stabilizing. CATL maintains its dominant market share in power batteries, serving leading automakers. Energy storage battery growth, though slower than the sector, retains high market share, with emerging applications like data center energy storage gaining traction.
Corporate News
SunGrow Secures Pre-Bid Win for State Grid Xuji’s 500MW/1000MWh Energy Storage System Procurement
Tags: #SunGrow #Analysis #Trends
SunGrow has been pre-selected for State Grid Xuji’s 500MW/1000MWh energy storage system procurement, divided into three phases with a budget of ¥700 million. The project involves equipment supply for energy storage stations in Zhaoqing, Guangdong, and Pingding County, supporting grid stability and renewable integration.
Industry Updates
Somalia Launches Solar-Plus-Storage Project Tender
Tags: #PvMagazine
Recently, CATL released its 2024 annual report, stating that although lithium battery shipments have increased, the growth rate is lower than the industry average The demand for power batteries and energy storage batteries has increased, resulting in a decrease in revenue but a stable gross profit margin CATL maintains a dominant position in the power battery market, while also maintaining a high market share in the energy storage battery sector In addition, SunGrow Company is expected to win the bid for the State Grid Xuji 500MW/1000MWh energy storage system procurement project, which is divided into three phases with a budget of 700 million yuan In addition, the Somali government has opened a tender for an 8MW solar power plant and a 20MWh battery energy storage system project, while the Platte River Power Authority in Colorado, USA has also advanced a large-scale battery energy storage project
The Somali government has opened bidding for an 8MW solar plant paired with a 20MWh battery storage system. The contract includes design, supply, installation, testing, and commissioning, alongside a 5km 33kV evacuation line. The project, located in Borama City (Awdal region), aims to bolster power supply for Awdal Electric Company in northwest Somalia.
Colorado Utility Advances Large-Scale Battery Storage Project
Tags: #LithiumPhosphateBattery
Recently, CATL released its 2024 annual report, stating that although lithium battery shipments have increased, the growth rate is lower than the industry average The demand for power batteries and energy storage batteries has increased, resulting in a decrease in revenue but a stable gross profit margin CATL maintains a dominant position in the power battery market, while also maintaining a high market share in the energy storage battery sector In addition, SunGrow Company is expected to win the bid for the State Grid Xuji 500MW/1000MWh energy storage system procurement project, which is divided into three phases with a budget of 700 million yuan In addition, the Somali government has opened a tender for an 8MW solar power plant and a 20MWh battery energy storage system project, while the Platte River Power Authority in Colorado, USA has also advanced a large-scale battery energy storage project
Platte River Power Authority (Colorado, USA) has partnered with NextEra Energy to develop a 100MW/400MWh lithium iron phosphate (LFP) battery storage system. Adjacent to the Black Hollow Solar Project, this initiative aligns with the utility’s strategy to expand renewable energy capacity and grid flexibility.
Sunwoda Signs 400MWh Standalone Energy Storage Project
Tags: #EnergyStorage #Projects
Sunwoda Smart Energy has partnered with Yancheng Coastal Cooperation Development Zone to build a 200MW/400MWh grid-side standalone energy storage project in Dafeng District. Comprising 40 storage units, the facility will offer energy storage leasing, participate in electricity trading, smooth peak-valley demand, and advance renewable energy integration.
Commercial & Industrial Energy Storage Surges in Q1 2025
Tags: #CommercialIndustrialStorage
Q1 2025 saw commercial and industrial energy storage installations reach 776.13MW/1,924.71MWh, a 54.85% year-on-year increase. Standalone projects dominated, with Jiangsu, Guangdong, and Zhejiang as primary markets, while Anhui, Henan, and Xinjiang emerge as growth hotspots.
Cutting-Edge Technologies
Uninterruptible Power Supply (UPS) Innovation
Tags: #UPS
Recently, CATL released its 2024 annual report, stating that although lithium battery shipments have increased, the growth rate is lower than the industry average The demand for power batteries and energy storage batteries has increased, resulting in a decrease in revenue but a stable gross profit margin CATL maintains a dominant position in the power battery market, while also maintaining a high market share in the energy storage battery sector In addition, SunGrow Company is expected to win the bid for the State Grid Xuji 500MW/1000MWh energy storage system procurement project, which is divided into three phases with a budget of 700 million yuan In addition, the Somali government has opened a tender for an 8MW solar power plant and a 20MWh battery energy storage system project, while the Platte River Power Authority in Colorado, USA has also advanced a large-scale battery energy storage project
TMEIC has unveiled a modular UPS system featuring vertically stacked power conversion units within a compact enclosure. A rear-mounted busbar unit enables parallel connections via removable fixtures, enhancing scalability and maintenance efficiency.
Photovoltaic Inverter Cooling Breakthrough
Tags: #PVInverter
Recently, CATL released its 2024 annual report, stating that although lithium battery shipments have increased, the growth rate is lower than the industry average The demand for power batteries and energy storage batteries has increased, resulting in a decrease in revenue but a stable gross profit margin CATL maintains a dominant position in the power battery market, while also maintaining a high market share in the energy storage battery sector In addition, SunGrow Company is expected to win the bid for the State Grid Xuji 500MW/1000MWh energy storage system procurement project, which is divided into three phases with a budget of 700 million yuan In addition, the Somali government has opened a tender for an 8MW solar power plant and a 20MWh battery energy storage system project, while the Platte River Power Authority in Colorado, USA has also advanced a large-scale battery energy storage project
Ningbo Sunvers Intelligent Technology Co., Ltd. has patented an externalized cooling system for PV inverters. The design relocates cooling fans to a detachable, covered housing outside the inverter body, simplifying maintenance and fan replacement without disassembling core components.
The content of this article is sourced from online sources and organized by'InsightEmpower'.

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