SHANGHAI, Dec 27 (SMM) – Construction of an energy storage system base, co-invested by state-owned Shanghai Electric and a lithium battery supplier Guoxuan Hi-Tech, commenced in Nantong of Jiangsu province on December 26, according to a news release on China's new energy site china-nengyuan.com.
With a total investment of 5 billion yuan, the project is designed with an annual capacity of 8GWh. Phase-one project received some 2 billion yuan of investment, with production scheduled in the fourth quarter of 2019.
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