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    300274   CNE1000018M7

SUNGROW POWER SUPPLY CO., LTD.

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Sungrow Power Supply : Joins Hands With JCM Power and Infraco to Construct Malawi's First Solar-Plus-Storage Project

05/13/2021 | 12:06pm EDT

Sungrow, the global leading PV and ESS solutions supplier for renewables, has recently partnered with JCM Power, InfraCo Africa, RINA and Innovate UK to construct the Republic of Malawi's first utility-scale solar-plus-storage project. Located in the Dedza district of Malawi near the town of Golomoti, the 20MWac solar PV and 5MW/10MWh energy storage project is set to become a leading project in sub-Saharan Africa in demonstrating the value of solar PV coupled with energy storage.

The project will fully adopt Sungrow's one-stop solar-plus-storage MV solution comprised of PV inverter, MV station, all-in-one Power Conversion System, battery container, and energy management system (EMS). Sungrow's leading PV and storage technologies will be deployed to improve the availability, reliability, and quality of the Malawi power supply through its outstanding capabilities in providing frequency regulation, voltage regulation, peak shaving, and reactive power support.

The Golomoti project, which is expected to enter operations at the end of 2021, will have all engineering, procurement and construction activities managed by JCM Power. The inclusion of lithium-ion batteries behind the meter at this scale will be a first in sub-Saharan Africa, demonstrating JCM's position as a leader in deploying leading technologies and innovation for solar-storage projects.

"We are pleased to have selected Sungrow to supply solar inverters, transformer kiosks and a one-stop lithium-ion battery energy storage solution for this pioneering project. Together, with Sungrow's global experience and expertise, we look forward to this project demonstrating the pathway for clean, affordable and reliable energy for Malawi and further as a demonstration to other developing nations" said Shane Eglinton, Engineering Director of JCM Power.

"We are extremely proud to be part of this iconic project. At the same time, we are certain that the introduction of our latest outdoor Power Conversion System solutions to the African market will boost the region's clean-power access and economic growth," said Phyllis Yang, the head of Sungrow Southern Africa.

After years of growth with zero security incidents, Sungrow is on the path to becoming the world's leading supplier of ESS equipment and integrated system solutions. In 2020, thanks to its broad product portfolio and perfectly localized after-sales service network, Sungrow led Southern Africa's PV sector with a market share over 20%.

About Sungrow

Sungrow Power Supply Co., Ltd. ("Sungrow") is the world's most bankable inverter brand with over 154 GW installed worldwide as of December 2020. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 24-year track record in the PV space, Sungrow products power installations in over 150 countries.

Learn more about Sungrow by visiting: www.sungrowpower.com

About JCM Power

JCM Power is an independent power producer (IPP) dedicated to accelerating social, economic and environmental sustainability in growth markets through the development, construction and operation of renewable energy facilities and HVDC transmission lines. JCM Power establishes long-term partnerships with local communities, governments and financial institutions to build and operate clean energy projects in markets where economies are growing rapidly and electricity is currently scarce, but sun and wind are abundant. JCM Power's focus is on projects in Sub-Saharan Africa, Latin America, and South Asia. Learn more about JCM Power by visiting: www.jcmpower.ca

About InfraCo Africa

InfraCo Africa is part of the Private Infrastructure Development Group (PIDG). InfraCo Africa seeks to alleviate poverty by mobilising private investment into high-quality infrastructure projects in sub-Saharan Africa's poorest countries. It addresses the risks and costs of early-stage project development: funding teams of experienced developers and providing risk capital to those projects which need the financial commitment and leverage that InfraCo Africa can bring. InfraCo Africa is funded by the governments of the United Kingdom (through FCDO), the Netherlands (through DGIS) and Switzerland (through SECO). For more information please visit: www.infracoafrica.com

Photo - https://mma.prnewswire.com/media/1508640/image_1.jpgLogo - https://mma.prnewswire.com/media/1344575/Logo.jpg

Copyright PR Newswire. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Sales 2021 26 704 M 4 133 M 4 133 M
Net income 2021 2 944 M 456 M 456 M
Net cash 2021 4 943 M 765 M 765 M
P/E ratio 2021 83,0x
Yield 2021 0,13%
Capitalization 244 B 37 834 M 37 837 M
EV / Sales 2021 8,97x
EV / Sales 2022 7,06x
Nbr of Employees 4 492
Free-Float 19,1%
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Ren Xian Cao Chairman, President & General Manager
Guo Jun Li Chief Financial & Accounting Officer
Gao Zhou Tao Chairman-Supervisory Board
Min Jiang Independent Director
Bao Shan Li Independent Director