Gilad Yavetz, CEO of Anlite: “This is our first strategic storage agreement in the field of storage and we have chosen to execute it using SUNGROW’s advanced technological solution. We believe that combining SUNGROW’s product with CATL’s cell technology will provide us with the best solution for the integrated storage solar projects we are establishing.”
James Wu, SUNGROW Vice President: “The advanced storage systems we offer enable our customers to get the most out of solar energy. Israel is a significant market for us to expand global operations. The flowering of renewable energy involves a greater need to develop energy storage solutions and in the process, we saw a strong desire from both Analyte and government to produce A future with cleaner electricity “
Anlite Announced that it has entered into an agreement to purchase systems for storing electricity in batteries with a total capacity of approximately 430 MWh for a set of combined solar energy storage projects of the company, which will be built in Israel.
The agreement was signed with SUNGROW Power Supply Ltd, a leading international player in the field of components and supply of solar systems, and has experience in supplying electricity storage systems that have been installed, so far, in more than 150 countries.
The systems purchased include an integrated SUNGROW storage solution based on Lithium-Ion battery cells manufactured by CATL for SUNGROW.
The purchased systems are intended for installation in a significant part of the projects that will be built as part of the company’s winning two tenders from the Electricity Authority for the construction of electricity generation facilities using photovoltaic technology combined with energy storage, as detailed in previous reports.
The total consideration for the acquisition will be in the range of approximately $ 75-80 million and will be paid at milestones against the provision of guarantees by SUNGROW.
The company estimates that the agreement allows it a very worthwhile solution to ensure the supply of storage systems for the company’s projects, in view of the global supply chain crisis and rising commodity prices.
SUNGROW is a world leader in the supply of solutions and components for solar energy. It has provided until 2021 GW182 of converters for solar fields and also specializes in providing energy storage systems and solutions for floating solar systems. The company is headquartered in China and is traded on the Shenzhen Stock Exchange worth about $ 35 billion.
CATL is a world leader in advanced energy storage solutions. It is one of the world leaders in lithium-ion energy storage solutions. The company is headquartered in China and is traded on the Shenzhen Stock Exchange at a value of $ 220 billion.
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