EnergyTrend reports that according to a recent announcement by Narada Power on June 26, the company has received a bid-winner notice for building a centralized shared energy storage power plant in Dancheng County. The bid amount for this project is approximately RMB 210 million.

The independent shared energy storage model implemented by Narada Power allows for multiple energy storage units, enabling a wider range of applications and generating increased revenue for energy storage. Over the years, Narada Power has established itself as a leader in technology application and service models within the shared energy storage sector, granting the company several advantages.

The rapid growth of the global energy storage market has propelled Narada Power’s business to flourish in the field of energy storage. This recent bidding success is a testament to Narada Power's careful development in the energy storage industry over the years. In 2023 alone, the company has secured and signed energy storage projects totaling approximately 6 GWh.

Narada Power has garnered significant advantages as a leader in the energy storage industry, encompassing brand recognition, channel access, and technological expertise in various sectors such as new power energy storage, industrial and commercial energy storage, and industrial energy storage. As a result, Narada Power has established an integrated energy storage chain, spanning from electronics chip-based products to system integration, operation and maintenance services, and resource recovery. Through its comprehensive global sales and service network, Narada Power has gained unanimous recognition from the global industry as well as domestic and international customers.

In 2020, Narada Power successfully commenced operations of a shared energy storage power plant with a capacity of 6 MW/24 MWh in Guazhou, Gansu province. This project is a crucial component of the largest demonstration project for electrochemical energy storage power plants in the domestic grid sector. It significantly enhances the capacity for new energy generation and consumption in northwest China while generating auxiliary services compensation income.

In July 2022, Narada Power collaborated on a successful bid for a leading Engineering, Procurement, and Construction (EPC) project to build a battery energy storage power plant in Chenzhou, Hunan province. This project boasts an impressive capacity of 100 MW/200 MWh. By adopting a new energy leasing model, it promotes the grid connection of new energy sources and tackles the challenge of surplus wind and solar power.

Additionally, in December 2022, Narada Power secured the bid to lead the first phase of a shared energy storage power plant in Leizhou, Guangdong province. This phase is set to have a capacity of 200 MW/400 MWh. Once operational, it will improve the regulation capacity of the local power grid and alleviate the strain on peak power supply.