- The potential scale of the two companies' energy storage battery partnership is expected to reach as much as 60 GWh over the next five years.
- The deal marks a key breakthrough in the South Asian market for China's fifth-largest battery maker.
Eve Energy signed a massive agreement with Indian energy firm Godawari New Energy Private Limited (GNEPL), as the Chinese battery maker looks to expand its footprint in the South Asian market.
The two companies signed an order for 8 GWh of energy storage system batteries, according to a statement on Tuesday.
The signing is the beginning of long-term strategic mutual trust between the two parties and marks a key breakthrough for Eve Energy in South Asia, the company said.
Under their long-term development plan, the potential scale of energy storage battery cooperation between the two companies could reach up to 60 GWh over the next five years.
India is currently one of the world's fastest-growing new energy markets and is ushering in a historic opportunity for the large-scale development of the energy storage industry, Eve Energy said.
With the rapid increase in the proportion of renewable energy in India, the local grid's demand for system stability as well as frequency and peak regulation is becoming increasingly prominent.
The 628-Ah energy storage batteries used in this partnership feature high safety and minimalist integration, which can significantly reduce the full life-cycle cost of projects, the battery maker said.
The battery products align with the Indian market's expectations for efficient and sustainable energy storage solutions, helping to improve the operational efficiency of power stations, according to the company.
The two will integrate their respective resources and industry advantages to accelerate the implementation of energy storage projects in India and promote the low-carbon transition of the local energy structure.
Eve Energy is one of China's largest battery manufacturers, with an installed battery volume of 3.11 GWh in China in April, according to data from the China Automotive Battery Innovation Alliance (CABIA).
This gives the company a 4.98% market share in China, ranking it fifth in the overall domestic battery market.
