SolaX Power Announces 149.8mn USD Investment On Energy Storage

SolaX Power Announces 149.8mn USD Investment On Energy Storage

Global energy solutions company SolaX Power has now unveiled a 149.8 million USD investment to establish research and manufacturing facility in the Zhejiang Province of China. This project will focus on utility-scale energy storage and integrated smart energy systems. The company said that the move is likely to aid in the global energy transition towards clean fuels.

“As renewable energy expands, energy storage has become essential for a resilient and sustainable power grid. SolaX’s facility aims to meet rising demand for efficient storage solutions that support both commercial and utility sectors. The ability to store and deploy energy when needed is more crucial than ever with increased reliance on solar and wind power,” the company said in a media statement.

By expanding its production capacity, SolaX aims to enhance grid stability and energy independence, key components in achieving global decarbonisation goals. Of the 149.8 million USD investment, 107.8 million USD will go towards fixed assets, including R&D labs, testing centres, and high-tech manufacturing lines. These facilities will accelerate SolaX’s innovation pipeline, bringing new technologies to market faster while improving efficiency and scalability.

“This expansion signifies more than just increased production—it represents SolaX’s dedication to pushing technological boundaries and delivering industry-leading products,” it said. In addition to storage, SolaX’s new facility will focus on smart energy systems integrating solar power, storage, heating, and EV charging. Leveraging AI, IoT, and big data, SolaX aims to create systems that optimize energy usage in real-time, making energy management flexible and user-friendly,” it said in a statement.

These systems will play a key role in the future of decentralized energy management, empowering users to take control of their energy and reducing reliance on traditional grids. Solax Power has slowly expanded its business in several continents to provide solar inverter solutions For example, the company has also forayed into the Indian solar market. It is currently providing solar inverter solutions for residential, C&I and utility scale market.