Shanghai (ZXZC)- On November 15, Gotion High-Tech and China Three Gorges Corporation ("CTG") held a signing ceremony to jointly invest in an integrated photovoltaic and energy storage project in Huai'an Industrial Park, Jiangsu Province.

Photo credit: Gotion High-Tech

As one of Jiangsu's oldest provincial-level development zones, the Huai'an Industrial Park has seen steadily rising industrial power demands over the years. This makes it a promising location for new energy applications like energy storage power stations. The cooperative project will include battery pack and integrated production lines, shared energy storage power stations, and centralized photovoltaic power stations.

CTG is the world's largest hydropower development and operation company as well as a leading clean energy group in China. CTG New Energy, as the strategic implementation body of CTG's new energy business, once set the record for the largest IPO in the history of China's power industry. It remains one of the domestic listed companies with the highest market value in the new energy sector.

Gotion High-Tech is one of the earliest companies in China to independently research, develop, produce, and sell power lithium-ion batteries for new energy vehicles. In recent years, the energy storage business has become an important growth area for the company. Its products cover centralized battery modules and clusters, standard container energy storage systems, commercial and industrial energy storage systems, and home energy storage systems. In the first half of 2023, the company's energy storage business revenue exceeded 4 billion yuan, accounting for 27.21% of total revenue.