Fangyuan business park energy storage

Why did China's Fangyuan environment stock rise?

(Yicai Global) May 10 -- Shares of China's Fangyuan Environment rose after the battery parts maker said it will team up with a recycling partner to jointly invest CNY1 billion (USD149 million) to expand its ternary cathode material output. Fangyuan's stock price [SHA: 688148] climbed 4.9 percent to close at CNY15.60 (USD2.30).

What is the future of energy storage in China?

In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China. Projections show significant growth for the future.

What is China's energy storage capacity in 2022?

In 2022, China’s cumulative installed NTESS capacity exceeded 13.1 GW, with lithium-ion batteries accounting for 94% (equivalent to 28.7% of total global capacity). China is positioning energy storage as a core technology for achieving peak CO2 emissions by 2030 and carbon neutrality by 2060.

How much does energy storage cost in China?

New energy storage also faces high electricity costs, making these storage systems commercially unviable without subsidies. China’s winning bid price for lithium iron phosphate energy storage in 2022 was largely in the range of USD 0.17-0.24 per watt-hour (Wh).

What is China's energy storage strategy?

Localities have reiterated the central government’s goal of developing an integrated format of “new energy + storage” (such as “solar + storage”), with a required energy storage allocation rate of between 10% and 20%. China has created an energy storage ecosystem with players throughout the supply chain.

How will Fangyuan & Feinan's joint venture work?

Fangyuan will have a 51 percent stake in the JV and Feinan will have 40 percent of the equity. A private equity fund will hold the remainder of 9 percent. The partnership involves synergies. All major raw materials, namely high-purity nickel sulfate, will come from the partner’s scrap metal recycling plant, according to the statement.