Sungrow Signs127 MWh Energy Storage Deals In Israel

Sungrow, the global leading inverter and Energy Storage System (ESS) supplier, has inked a milestone deal with EDF Renewables Israel, the leading renewable energy company in Israel, to deliver cutting-edge liquid-cooling storage systems PowerTitan for a substantial 127 MWh energy storage projects. These projects with  EDF Renewables Israel follow the successful signing of previous 50 MWh projects. Sungrow is on course to declare record profits and revenues this year, after taking over the mantle of the world’s no. 1 inverter seller last year, based on an S&P report.

The newly signed contract involves the supply of liquid-cooling storage systems that will be integrated into 6 projects across various locations. The storage capacity of 127 MWh is set to significantly bolster Israel’s renewable energy infrastructure and further cement Sungrow’s position as the country’s leading ESS supplier with a market share of over 40 percent.

Solar inverters and energy storage systems are two of Sungrow’s three major business segments, with the solar inverter business contributing 39 percent of its total revenue last year and the energy storage systems business making up 25 percent. Last year’s revenue jumped 67 percent and net profit surged 127 percent.

Currently, approximately 12 percent of Israel’s energy is derived from renewable sources, and the government aims to achieve 30 percent by 2030, with solar energy accounting for 26 percent of this ambitious target.

The liquid-cooling storage system provided by Sungrow comes with advanced technology, pre-assembled design, and easy installation. The system’s unique design minimizes capacity loss rates and substantially extends the system’s life expectancy, resulting in long-term cost savings. Furthermore, its streamlined DC-coupled design reduces electrical losses and eliminates the need for an additional Power Conversion System (PCS) and a medium-voltage station, leading to lower expenses and increased overall efficiency.

Sungrow shipped 77GW of solar inverters, ranking first globally in 2022, according to S&P Global. The company’s total installed capacity of inverters globally exceeded 340 gigawatts at the end of 2022. Global solar inverter shipments rose to 284 GW in 2022 from 119.2 GW in 2017 and may increase to 579.3 GW in 2026, according to China based research firm ZhongTai.

EDF Renewables Israel began operating in Israel in 2010, developing, constructing, and operating major power production facilities using solar and wind energy. The company currently operates 33 projects throughout the country with a total installed capacity of 572 megawatts. From the day its first project was connected until today, the company has produced about 3.7 TWh (terawatt-hours) of clean solar electricity, preventing the emission of 2 million tons of carbon dioxide.