Renewable Energy Company Anlite Announced today (Sunday) that it has entered into an agreement to purchase systems for storing electricity with batteries with a capacity of approximately 430 megawatts, for a set of integrated solar projects of the company’s energy storage, which will be built in Israel.
The agreement was signed with SUNGROW Power Supply, an international player in the field of components and supply of solar systems, and with 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 established as part of the winning of Analyte Energy In two tenders of the Electricity Authority for the construction of facilities for electricity generation using photovoltaic technology combined with energy storage.
The company states that the total consideration for the purchase 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.
Analyte also states that SUNGROW is a world leader in the supply of solutions and components for solar energy. The company is headquartered in China and is traded on the Shenzhen Stock Exchange at a value of approximately $ 35 billion. Chinese company CATL is a world leader in advanced energy storage solutions. It is one of the world leaders in lithium-ion energy storage solutions. It is traded on the Shenzhen Stock Exchange at a value of $ 220 billion.
Gilad Yavetz, CEO of Analite, stated that “This is our first strategic procurement agreement in the field of storage and we have chosen to implement it through SUNGROW’s advanced technological solution. We believe that combining SUNGROW’s product together with CATL’s cell technology will provide us with the best solution for the integrated storage projects we are setting up. “