1211 BYD Company Limited Class H

BYD Energy Storage Signed World’s Largest Grid-scale Battery Storage Projects of 12.5GWh

BYD Energy Storage Signed World’s Largest Grid-scale Battery Storage Projects of 12.5GWh

SHENZHEN, Feb. 17, 2025 (GLOBE NEWSWIRE) -- Recently, BYD Energy Storage and Saudi Electricity Company successfully signed the world's largest grid-scale energy storage projects contracts with a capacity of 12.5GWh at the time. Combined with the previously delivered 2.6GWh project, the total cooperation now has amounted to a massive 15.1GWh of projects.



The Project Kick-off Meeting

This cooperation is a pivotal stride towards advancing Saudi Arabia's renewable energy industry and aligning with the ambitious goals set forth in Saudi Arabia's Vision 2030 initiative. In response to the pressing global climate challenges, SEC has been steadfast in its commitment to reshaping Saudi Arabia's energy landscape and spearheading exploration in renewable energy, driven by the Kingdom’s ambition to achieve its optimal energy mix of 50% of renewables by 2030.

The BESS equipment in the projects will be installed at five sites in the country. BYD Energy Storage will supply new-generation MC Cube-T ESS that adopt its globally pioneering CTS (Cell-to-System) super-integrated technology, with a Vcts (proportion of cell volume to system volume) index exceeding 33%. These installations will integrate into Saudi Arabia's power transmission network, playing a pivotal role in addressing challenges posed by the rising number of renewable energy generation systems, ensuring stable power supply, and meeting peak energy demands.

17 years ago, the first pilot BESS system was delivered from BYD to the market to seek for the potential value of LFP-based battery storage system to be coupled in electricity network system. To date, BYD Energy Storage has delivered over 75GWh of BESS equipment to 350 projects spanning more than 110 countries and regions worldwide. Its diverse product portfolio caters to various application scenarios across generation side, utility side and consumption side, forming a complete industrial chain encompassing research, development, manufacturing, sales, and service. BYD Energy Storage proved itself to be well-equipped to supply an ultra-large-scale project exceeding 15.1GWh.

This landmark project will redefine the value and status of electrochemical energy storage solutions in the global energy landscape. Taking this cooperation as a new starting point, BYD Energy Storage will continue to increase investment in technology research and development and join hands with global partners to usher in a new era of energy transition, leading the energy storage industry towards a clean and sustainable future.

Links:



Media Contact:

Qifen Zhong

A photo accompanying this announcement is available at



EN
17/02/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on BYD Company Limited Class H

Bella Lu Yifei ... (+2)
  • Bella Lu Yifei
  • Ken Lee

China Automobile Weekly: PV sales growth slows to 0.8% yoy. Maintain M...

China’s PV insurance registrations edged up 0.8% yoy and fell 8.8% wow in the 28th week of 2025 due to the roll-back of promotional discounts. Geely will privatise Zeekr via a US$2.4b cash or share-swap deal, creating short-term cash and dilution pressure but enabling long-term strategic synergies. The State Council is mulling measures to curb price war. We downgrade Ganfeng Lithium from BUY to HOLD on bigger-thanexpected 2Q25 loss. Maintain MARKET WEIGHT. Top BUYs: CATL, Geely and Tuopu.

Alden Gabriel Lam ... (+9)
  • Alden Gabriel Lam
  • Bella Lu Yifei
  • Benyamin Mikael
  • Jo Yee Ng
  • Jonathan Koh
  • Kate Luang
  • Ken Lee
  • Kitpon Praipaisarnkit
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Friday, July 18, 2025

GREATER CHINA Sector Automobile Weekly: PV sales growth slows to 0.8% yoy. Maintain MARKET WEIGHT on the sector. Top BUYs: CATL, Geely and Tuopu. Update Sun Hung Kai & Co (86 HK/BUY/HK$3.47/Target: HK$5.86) 1H25 Preview: Positive market sentiment improves asset valuations. INDONESIA Small/Mid Cap Highlights Rukun Raharja (RAJA IJ/NOT RATED/Rp2,590) Building the future o...

Bella Lu Yifei ... (+2)
  • Bella Lu Yifei
  • Ken Lee

China Automobile Weekly: PV Sales Down 30% wow As Promotions End.

China’s PV insurance registrations grew 16.9% yoy but fell 30.4% wow in the 27th week of 2025 due to the roll-back of promotional discounts, in line with expectations. On 9 July, BYD announced L4 smart parking and promised to take responsibility for any losses incurred; Geely unveiled the ground-breaking SEA-S platform and its new flagship hybrid SUV, Zeekr 9X. Chongqing recently announced a new EV subsidies policy. Maintain MARKET WEIGHT. Top BUYs: CATL, Geely and Tuopu.

Bella Lu Yifei ... (+2)
  • Bella Lu Yifei
  • Ken Lee

China Automobile Weekly: PV sales up 6.9% yoy on last-minute buying be...

China’s PV insurance registrations grew 6.9% yoy/4.0% wow in the 26th week of 2025, in line with expectations, while BYD’s sales fell 5% wow during the week. The rollback of discounts and the high inventory level constitute earnings headwinds. We cut BYD’s target price from HK$163.30 to HK$142.00. Geely raised its 2025 sales target to 3m units on upbeat sales. We raise target price for Geely from HK$31.00 to HK$35.00. Maintain MARKET WEIGHT. Top BUYs: CATL, Geely and Tuopu.

Arsit Pamaranont ... (+10)
  • Arsit Pamaranont
  • Audrey Celia
  • Bella Lu Yifei
  • Desmond Chong Chee Wai
  • Guan An Tan
  • Ken Lee
  • Malaysia Research Team
  • Roy Chen Chengzhi
  • Vincent Khoo Boo Aik
  • Willinoy Sitorus

Regional Morning Meeting Notes: Friday, July 04, 2025

GREATER CHINA Sector Automobile Weekly: PV sales up 6.9% yoy on last-minute buying before promotions end. Maintain MARKET WEIGHT on the sector. Top BUYs: CATL, Geely and Tuopu. INDONESIA Small/Mid Cap Highlights Mastersystem Infotama (MSTI IJ/NOT RATED/Rp1,295) Prominent ICT player with strong fundamentals and undemanding valuation. MALAYSIA Strategy 2H25 Strategy - Re-Charging For Outperformance ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch