Deye Co., Ltd. announced in the evening that its wholly-owned subsidiary, Ningbo Deye ESS Technology Co., Ltd. (hereinafter referred to as "Deye ESS"), signed an investment agreement with the Management Committee of Cixi Binhai Economic Development Zone. The company plans to invest in the construction of a 16GWh commercial and industrial ESS production line project in the development zone.
According to the announcement, the project will be implemented in two phases. The first phase is expected to have an annual capacity of 7GWh, with fixed asset investment estimated to be no less than 895 million yuan. The second phase is expected to have an annual capacity of 9GWh, with fixed asset investment estimated to be no less than 1.232 billion yuan. In total, the project's investment is expected to be no less than 2.127 billion yuan.
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