Analite Spirit Project (Analite Photography)
Enlight has announced that it will purchase batteries for storing electricity in a deal worth about $ 80 million. The systems are designed for installation in the company’s projects that include the storage component that has always been a problem for companies that generate electricity from renewable sources.
The agreement was signed with SUNGROW Power, which is an 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.
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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 number of projects that will be built as part of the company’s winning two tenders from the Electricity Authority for the construction of facilities for electricity generation using photovoltaic technology combined with energy storage.
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 And rising commodity prices.
SUNGROW provides 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.
Gilad Yavetz, CEO of Analite: “This is our first strategic procurement agreement in the field of storage and we have chosen to implement it through SUNGROW’s technological solution. We believe that integrating SUNGROW’s product together with CATL’s cell technology will provide us with the best solution for the integrated storage solar projects we are setting up. ”
James Woo, Vice President of SUNGROW: “The storage systems we offer enable our customers to get the most out of solar energy. Israel is a significant market for us to expand our global operations. The flowering of renewable energy involves a greater need to develop energy storage solutions. “Both Analyte and the government create a future with cleaner electricity.”
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