CATL Nuggets North American Energy Storage added a new order

On October 18, CATL announced that it had reached an agreement with Primergy Solar LLC, a US utility and distributed photovoltaic + energy storage development operator, to exclusively supply batteries
for Gemini, the largest single photovoltaic energy storage project in the United States.
This is another important breakthrough
in CATL's continuous cultivation of the North American market.

As a global leader in power batteries, CATL has recently signed large orders for energy storage projects in North America, and has deployed a number of energy storage projects in the North American market, including 3 projects with a total capacity of more than 2.
1GWh in Edison, California, and more than 500MWh of commercial energy storage projects
in operation and under construction in Texas.

It is reported that the Gemini project is located near Las Vegas, Nevada, with a total investment of 1.
2 billion US dollars, deploying 690MWac/966MWdc solar panels and 1.
416GWh energy storage systems
.
After the completion of the project, it will become the largest photovoltaic energy storage project in
the United States.
Primergy designed a DC-coupled system for the Gemini project, which innovatively combines solar modules with CATL's energy storage systems to maximize
efficiency.
CATL will provide Primergy with a long-life, highly integrated and high-safety outdoor liquid-cooled energy storage cabinet EnerOne, which uses 280Ah lithium iron phosphate cells with a discharge rate of 1C and a cycle life of up to 10,000 times
.
It is understood that the EnerOne energy storage system supplied by CATL was launched in 2020, which has the characteristics of
long life, high integration and high safety.
By the end of 2021, CATL EnerOne has been sold to more than 25 countries around the world, with a cumulative shipment of more than 11GWh
.

Ty Daul, CEO of Primergy, said: "It is a pleasure to work
with CATL on the Gemini project.
The reliability and resilience of future energy depends on the large-scale deployment of battery storage to provide stable power
to the grid when it is most needed.
We are working with CATL to build an advanced and complex battery energy storage system that stores excess solar energy during the day to power Nevada in the evening
hours.
”

Tan Libin, Vice President of CATL, said: "Primergy has rich industry experience
.
With their capabilities in the development, construction and management of long-term assets and CATL's innovative battery technology, the collaboration on the Gemini project will set a benchmark for large-scale electrochemical energy storage applications and drive the global
goal of carbon neutrality.
”

Energy storage is an important application for
lithium-ion batteries.
Therefore, the energy storage market is regarded by the outside world as the second growth curve
of the CATL era in addition to power batteries.
Zeng Yuqun, chairman of CATL, has publicly predicted that by 2030, the global market shipments of power batteries will reach 4800GWh, and the demand for energy storage batteries will exceed 1000GWh
.

The cooperation with Primergy will also give full play to CATL's overseas business layout network
.
Previously, on September 21, CATL announced a cooperation agreement with FlexGen, a US energy storage technology platform and solution provider, and FlexGen was designated as an authorized service provider of CATL to provide maintenance and optimization services for CATL's battery energy storage system in North America, and CATL will supply 10GWh of advanced energy storage products
to the latter within 3 years.
The partnership with FlexGen will further expand CATL's service network
in North America.

According to data released by relevant market participants, in 2021, CATL ranked first in the global market share of energy storage battery production for the first
time.
In the first half of 2022, the operating income of CATL energy storage system reached 12.
73 billion yuan, accounting for 11.
3% of the total operating income, a year-on-year increase of 171.
41%.

At the same time, the demand for energy storage in overseas markets is very strong
.
In the first half of this year, 5.
843GWh of new energy storage capacity was installed in the United States, a year-on-year increase of 173%.

Market agency WoodMac predicts that the new installed capacity of energy storage in the US market is expected to achieve a 29% growth in 2022, and it is expected that the demand for energy storage will reach 13.
5GWh, 28.
4GWh and 45.
6GWh in 2022~2024, respectively, showing a rapid growth trend
.

In the face of rapidly growing market demand, Chinese companies have turned their attention overseas to achieve the layout
of energy storage going overseas.
At present, in addition to the Ningde era, the layout of Chinese energy storage companies such as BYD, Sungrow, Trina Solar, EVE Lithium Energy and other Chinese energy storage companies in North America is further accelerating
.