13 billion! Penghui Energy Intends to Build 36 GWh Energy Storage Battery Project

On May 23, Penghui Energy announced that it planned to invest 13 billion yuan to build a 36 GWh energy storage battery project.

According to the announcement, the project will be invested and constructed in Chengyang District, Qingdao, Shandong Province, in three phases, with an annual output of 12 GWh energy storage battery in the first phase. It is planned to start construction by the end of September 2023 and put into operation by the end of December 2024 . The energy storage battery project with an annual output of 12 GWh will be constructed in the second phase, and the energy storage battery project with an annual output of 12 GWh will be constructed in the third phase. The source of funds for this

investment project is the company's own or self-raised funds, and Penghui Energy is expected to raise project construction funds through a combination of equity and debt.

At the same time, the company said that it would also register a new company in Qingdao as the main body of investment and construction of the project.

According to the incomplete statistics of new energy micro-report, there are currently four Penghui energy storage projects under construction, namely Quzhou Base, Changzhou Base, Henan Base and Liuzhou Base, which are expected to be put into operation in the third quarter of this year and contribute to part of the production capacity in the fourth quarter. At present, the plant

of Quzhou 10GWh energy storage project has been basically completed, and the production line equipment has entered the plant one after another, which is expected to be completed and put into operation in the second half of the year.

In 2022, Penghui Energy achieved a revenue of 9.067 billion yuan , a year-on-year increase of 59.26% , and a net profit of 628 million yuan, a year-on-year increase of 244.45%; Gross profit margin was 18.69%. At the same time, the first quarterly report of 2023 disclosed showed that the company achieved a net profit of 182 million yuan in the first quarter of 2023, an increase of 101.46% over the same period last year, and the gross profit rate increased to 19.96%.

Source: New Energy Micro News DataBM. Com.