Huawei has signed a contract for the world's largest energy storage project, energy storage and installed capacity will increase significantly.

Recently, Huawei Digital Energy and Shandong Electric Power Construction Co., Ltd. have successfully signed an energy storage project in Saudi Arabia's Red Sea New City, and the two sides will work together to help Saudi Arabia build a global clean energy and green economy center. With a scale of 1300 MWH, the project is by far the largest energy storage project in the world.

Wang Lei of Guosheng Securities pointed out that with the rapid increase in the proportion of fluctuating power sources such as photovoltaic and wind power and the rapid growth of power demand, the demand for energy storage and installation with instantaneous flexible regulation capacity will usher in a concentrated outbreak. According to the guidance on accelerating the Development of New Energy Storage, by 2025, China will realize the transformation of new energy storage from the initial stage of commercialization to large-scale development, and the installed scale will reach more than 30GW, which is much higher than that of 3.27GW at the end of 2020.