【SMM Analysis: Hitting a new low! CNNC HuaNeng's 6GWh energy storage centralized procurement opens at a minimum of 0.638 yuan/Wh】

SMM 5th December: On the morning of 4th December, CNNC HuaNeng Limited opened the centralized procurement of energy storage for the 2023-2024 period. The total capacity of this procurement is 6GWh, including 1GWh of vanadium redox flow battery energy storage system and 5GWh of lithium iron phosphate energy storage system. Based on the currently publicly available quotation information, the lowest bid for the 2h (0.5C) system and 4h (0.25C) system of lithium iron phosphate energy storage system has reached 0.638 yuan/Wh. The cost reduction effect brought about by the decline in the prices of battery raw materials such as lithium carbonate, anode materials, and electrolytes, as well as the rich participation of players in the energy storage industry chain, has continuously created new lows in the prices of energy storage systems this year. According to SMM statistics, the average bid price has fallen to 0.902 yuan/Wh by October.