Hoypower Achieves Milestone with Winning Bid in SPIC Energy Storage Project

Hoypower has been announced as the successful bidder for a key section of the State Power Investment Corporation Limited’s (SPIC) large-scale energy storage procurement. This procurement, announced on November 30th, involves a comprehensive e-commerce bid for energy storage systems planned for 2023.

In this significant development, Hoypower has secured the contract for Section 08 of SPIC’s 0.5C lithium iron phosphate (LFP) energy storage system. The total procurement by SPIC encompasses 5.2 GWh, split between 4.2 GWh of LFP systems and 1 GWh of flow battery systems. The 0.5C LFP category, of which Hoypower is now a part, accounts for 1.25 GW/2.5 GWh across eight sections.

The procurement process set stringent requirements, including a minimum 280 Ah nominal capacity for battery cells and a five-year warranty covering the complete energy storage system. Successful bidders were required to possess independent R&D and production capabilities across critical components such as battery cells, Battery Management Systems (BMS), Power Conversion Systems (PCS), and Energy Management Systems (EMS). Furthermore, candidates needed a domestic supply track record of at least 500 MWh over the last five years, which must include grid-connected LFP electrochemical energy storage systems with individual capacities exceeding 20 MWh.

Li Tianrun, General Manager of Hoypower, expressed confidence in the company’s capabilities and market position following the win. He emphasized Hoypower’s commitment to ongoing technological advancement, exploring new application scenarios, and contributing towards the transformation of energy infrastructures and sustainable development goals.

About SPIC:
State Power Investment Corporation Limited, ranking 262nd among the Fortune Global 500, stands as a pivotal player in China’s energy sector. As one of the country’s top five power generation groups, SPIC boasts a diverse portfolio encompassing various generation types including photovoltaic, wind, nuclear, hydro, coal, gas, and biomass. Notably, its photovoltaic power capacity is the largest globally. SPIC’s business extends to centralized power and heat generation, consumer-side integrated smart energy solutions, and a range of power-related and supporting services, solidifying its ambition to emerge as a globally competitive leader in clean energy.

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