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The Energy Storage Project of EVE-Linyang was Officially Launched!

2021.06.30

On June 30th, the groundbreaking ceremony of Jiangsu EVE-Linyang Energy Storage Technology Co., Ltd. (hereinafter referred to as "EVE-Linyang") was officially held in Qidong City, Jiangsu Province.

 

Li Ling, secretary of Qidong, Yang Zhongjian, the mayor, Dr. Liu Jincheng, chairman of EVE, Liu Jianhua, president of EVE, Lu Yonghua, chairman of Linyang, and Fang Zhuangzhi, vice president of Linyang, attended the ceremony.

 

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the groundbreaking ceremony of Jiangsu EVE-Linyang Energy Storage Technology Co., Ltd. 




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 Lu Yonghua, chairman of Linyang


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Dr. Liu Jincheng, chairman of EVE


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Yang Zhongjian, the mayor of Qidong


Leaders and guests who attended the ceremony pressed the starting device together, marking the official start of the energy storage project of EVE-Linyang.

 

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Jiangsu EVE-Linyang Energy Technology Co., Ltd. was invested by EVE Power, a wholly-owned subsidiary of EVE, and Jiangsu Linyang Energy Co., Ltd.. It will invest around 500 million dollars on the energy storage project with an annual output of 10GWh.

 

The registered capital of EVE-Linyang is 15.5 million USD, of which EVE Power invested 10 million USD, accounting for 65% of the shares of the joint venture, while Linyang occupying 35% of the shares. Both parties will increase the registered capital to 77 million USD in accordance with the progress of the project.

 

By integrating the superior resources of both parties and giving full play to their competitive advantages in technology, talents, and customer resources, the energy storage project jointly constructed by EVE Power and Linyang aims to continuously expand the energy storage market, meet the growing product demand of customers and the future business development needs of enterprises. At the same time, it will help promote the vigorous development of Qidong City's new energy industry.


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With the establishment of our country's "carbon peak and carbon neutrality" goals, the demand for new energy consumption such as wind power and photovoltaics will greatly increase, and EVE’s energy storage business will usher in a broader space for development. The construction of EVE-Linyang marks that EVE is accelerating the deployment of energy storage and ready to make due contributions in the new energy era.




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