Chinese energy-storage enterprises have been receiving more overseas orders since July, as the destocking of home energy storage in Europe comes to an end and emerging markets like South America and North Africa grow.
Yin Shaowen is the general manager of an energy-storage innovation technology company in south China's Shenzhen City.
At the beginning, their products only sell in the United States. However, since the destocking of home energy storage in Europe is reaching the end, they've also started to enter the European market and have achieved a pretty good result so far.
"There has been a significant increase in sales of our products this year, with the export in the first half of 2024 being two to three times that of the same period of last year," said Yin.
Moreover, some places abroad have poor electricity facilities. With the further decline in the cost of home energy storage equipment, it has greatly encouraged energy storage firms to actively adjust their marketing strategies, expanding their layout in Asia, Africa and Latin America.
"Our stocks have almost run out. We've sold a lot to Europe this year. Markets in Asia, Africa, Latin America and North America also have seen some growth," said Yi Huiqiong, vice president of a local energy corporation.
Chinese large overseas energy-storage projects have also preformed quite well this year.
According to the global energy storage database of China Energy Storage Alliance, in the first six months of 2024, Chinese energy-storage enterprises signed orders of more than 80 GWh, with the overseas ones surpassing 50 GWh.
"By the end of June, our total shipments had exceeded 30 GWh. For now, our export is still in a rapid growth, especially in the U.S. and European markets," said Wang Pengcheng, general manager of an energy-storage innovation technology company in east China's Xiamen City.
Chinese energy-storage enterprises receive increasing number of overseas orders
Chinese Premier Li Qiang arrived in Abu Dhabi on Wednesday for an official visit to the United Arab Emirates (UAE) at the invitation of the UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum. Upon his arrival, Li said that bilateral ties between China and the UAE have maintained strong growth momentum since the two countries established diplomatic relations 40 years ago, and their friendship has grown stronger and continues to flourish.
Li noted that the meeting between Chinese President Xi Jinping and UAE President Sheikh Mohamed bin Zayed Al Nahyan in May has drawn a new blueprint for China-UAE ties, charting the course and injecting strong momentum for advancing bilateral relations and cooperation.
Li pointed out that under the strategic guidance of the two heads of state, China-UAE relations have developed comprehensively, rapidly and in depth with practical cooperation in various fields going deeper and cultural exchanges becoming increasingly active.
The two countries have maintained close communication and coordination on multilateral platforms, continuously contributing to peace, stability, prosperity and development of the region and the world at large, he said.
Guided by the important consensus reached by the two heads of state and taking the opportunity of the 40th anniversary of the diplomatic ties between the two countries, Li said he looked forward to having in-depth exchanges with UAE leaders and people committed to China-UAE friendship in various sectors to deepen and solidify the China-UAE comprehensive strategic partnership and achieve more fruitful results in exchanges and cooperation in various fields.
The UAE is the second and final leg of Li's four-day tour to the Middle East, which began in Saudi Arabia on Tuesday. He chaired the Fourth Meeting of the High-Level Chinese-Saudi Joint Committee in the Saudi capital of Riyadh and paid an official visit to the country.
Chinese premier lands in Abu Dhabi for visit
