Connect with us

Energy

CBAK Energy and Kandi Group Signed Supply Framework Agreement

Avatar

Published

on

DALIAN, China, Nov. 27, 2020 /PRNewswire/ — CBAK Energy Technology, Inc. (“CBAK Energy”,NASDAQ: CBAT), a world’s leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Energy Technology Co., LTD (“Dalian CBAK”, or the “Company”) signed Supply Framework Agreement with Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), a wholly owned subsidiary of Kandi Technology Group (NASDAQ: KNDI) in Hangzhou, Zhejiang province. They will promote the development of pure electric vehicle together. The two parties will play their respective advantage, complement each other with their respective resources. A long-term strategic cooperation partnership would be built for the development, supply and recycling of power batteries.

According to the Supply Framework Agreement, Kandi Vehicles is planning to purchase 800 million RMB (approximately 120 million USD) worth of battery pack system and customized battery manufacturing service in 2021. The power batteries of Dalian CBAK has advantages below: high efficiency power output, good high-temperature performance, long cycle life and fast charging speed. With the help of those qualities, CBAK Energy can help Kandi Vehicles’ electrical vehicles to further upgrade. The two parties will build a green and beautiful future travelling together.

As a world leading lithium ion power battery provider. CBAK Energy focuses on the development, manufacturing and sales of new energy vehicle power battery system solution and energy storage system. CBAK Energy provides the best solutions for global new energy application. Our products cover model 26650 and model 32140 cylindrical Lithium iron phosphate batteries, ternary batteries and lithium manganate batteries. The 32140 cylindrical cell has successfully adopted the tab-less design, which greatly reduced the cell’s impedance and effectively solved the heat dissipation problem for large size lithium ion batteries. Compared to tesla’s 4680 model, which they only applied tab-less design on anode, CBAK’s 32140 battery is tab-less on both cathode and anode, which significantly optimized cell’s performance.

Meanwhile, by enhancing the manufacturing procedure, the difficulty in electrolyte soaking and loss of space in the battery’s case caused by tab-less design has been solved. The application of our product is very competitive in the market which includes passenger vehicle and energy storage etc. 

There is no doubt that CBAK Energy and Kandi Group will extend the in-depth and long-term cooperation, which would facilitate the vehicle industry to become greener and smarter. Win-win result and development would be brought for both parties.

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a global leading high-tech enterprise engaged in the R&D, manufacture, and sales of high power lithium batteries. The application of its products and solutions covers such areas as electric vehicles, light electric vehicles, electric tools, transportation and energy storage. As the first lithium battery company in China to get listed in NASDAQ in January 2005, CBAK Energy possesses China’s first production base specially engaged in power battery, and has its wholly-owned subsidiary, Dalian CBAK Energy Technology Co., Ltd, Dalian CBAK Power Battery Co., Ltd, Nanjing CBAK New Energy Technology Co., Ltd. and a large-scale R&D and production base in Dalian.

For more information, please visit www.cbak.com.cn.

About Kandi Technology Group

Kandi Technology Group is one of the leading electric vehicle supply chain companies in China. Kandi has been listed on the U.S. Nasdaq stock exchange since 2007. Kandi’s headquarters are located in the beautiful lakeside city of Jinhua in the province of Zhejiang. Kandi operates four business lines: the development and sale of pure electric automobiles; electric vehicle parts such as battery packs, motors, etc.; intelligent battery swapping systems; and all-terrain vehicles. Kandi is recognized in China as a national hightech enterprise. It is a member of China’s top 500 machinery companies, as well as the SinoUS clean automobile alliance. Kandi is organized through a number of whollyowned subsidiaries, and also owns 22% of Fengsheng Automobile Technology Group, a cooperative venture with Geely Automotive Group, one of the largest private automobile manufacturers in China.

For more information, please visit ir.kandigroup.com

Safe Harbor Statement

This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All “forward-looking statements” relating to the business of CBAK Energy Technology, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the ability of the Company to meet its contract or agreement obligations; the uncertain market for the Company’s lithium battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for energy storage; and risks related to CBAK Energy’s business and risks related to operating in China. Please refer to CBAK Energy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as well as other SEC reports that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. CBAK Energy’s actual results could differ materially from those contained in the forward-looking statements. CBAK Energy undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE CBAK Energy Technology, Inc.

Related Links

http://www.cbak.com.cn

Source: https://www.prnewswire.com:443/news-releases/cbak-energy-and-kandi-group-signed-supply-framework-agreement-301181184.html

Energy

Corporations bought record total of clean energy despite devastating year

Avatar

Published

on

“To not only maintain, but grow, the clean energy procurement market under these conditions is a testament to how high sustainability is on many corporations’ agendas,” said the lead author of a new BNEF report.

Corporations purchased a record 23.7 GW of clean energy globally in 2020, with the U.S. market maintaining its lead and new markets propelling growth, according to a new report from BloombergNEF (BNEF).

The 2020 figure is up slightly from 20.1 GW in 2019 and more than 10 GW above the 13.6 GW seen in 2018. In the report, BNEF noted the 2020 increase came despite a year devastated by the Covid-19 pandemic, a global recession, and uncertainty about U.S. energy policy ahead of the presidential election.

“To not only maintain, but grow, the clean energy procurement market under these conditions is a testament to how high sustainability is on many corporations’ agendas,” said Kyle Harrison, BNEF senior associate and lead author of the report.

BNEF found in its 1H 2021 Corporate Energy Market Outlook that clean energy contracts were signed by more than 130 companies in sectors ranging from oil and gas to big tech.

Regions

Although the U.S. was once again the largest market, it was less dominant than in previous years. Companies announced 11.9 GW of corporate power purchase agreements (PPAs) in the U.S. in 2020, down from 14.1 GW in 2019. According to BNEF, this represented the first year-over-year drop since 2016. The first half of 2020, coinciding with the start of the pandemic, was particularly subdued, with companies announcing just 4.3 GW of corporate PPAs in the U.S. during that period.

Latin America also had a down year, with corporate PPA volumes dropping from 2 GW in 2019 to 1.5 GW in 2020. The region was hit hard by the Covid-19 pandemic and the economic downturn. However, BNEF said companies in Brazil signed a record of nearly 1.06 GW of PPAs in 2020, as many continued to migrate to the country’s free market, where they can sign bilateral clean energy contracts directly with developers.

Once the main draw for corporate procurement in the Latin American region, Mexico saw deal volumes all but dissipate. BNEF claimed this is because the current administration continues to undermine the country’s clean energy sector.

While the U.S. and Latin America slipped back, other corporate procurement markets stepped up.

Corporate PPA volumes in the Europe, Middle East and Africa (EMEA) region nearly tripled, from 2.6 GW in 2019 to a record 7.2 GW in 2020. In Spain, companies announced contracts to purchase no less than 4.2 GW of clean energy, up from 300 MW the previous year.

BNEF said solar and wind projects in Spain yield some of the cheapest and most competitive prices in Europe, thanks to strong natural resources and a large pool of experienced developers. Companies like Total and Anheuser Busch are orchestrating “cross-border virtual PPAs” in Spain, buying clean energy in the country to offset their load elsewhere in Europe.

Corporations also purchased record clean energy volumes in the Asia-Pacific (APAC) region, announcing contracts for 2.9 GW of solar and wind. Taiwan established itself as a major corporate clean energy market in 2020, with companies signing PPAs totaling 1.25 GW. BNEF said Taiwan’s market should be supported by a new policy that requires companies with an annual load above 5 MW to buy clean power. Also, the island has a high concentration of large manufacturers, many of which are feeling pressure from their customers to decarbonize.

South Korea is expected to be the next major corporate procurement market in Asia. Policymakers revised the country’s Electric Utility Act in the beginning of 2021, creating a PPA mechanism and a green tariff program with Korea Electric Power Corp. The revision will also allow companies to purchase unbundled certificates and retire them against sustainability commitments. According to BNEF, South Korean companies face similar supply-chain pressures to those in Taiwan.

Jonas Rooze, lead sustainability analyst at BNEF, said, “More than ever before, corporations have access to affordable clean energy at a global scale. Companies no longer have an excuse for falling behind on setting and working towards a clean energy target.”

Companies

BNEF found that Amazon was the leading buyer of clean energy in 2020, announcing 35 separate clean energy PPAs in 2020, totaling 5.1 GW. The company has now purchased over 7.5 GW of clean energy to date, vaulting it ahead of Google (6.6 GW) and Facebook (5.9 GW) as the world’s largest clean energy buyer. French oil major Total (3 GW), TSMC (1.2 GW) and U.S. telecom Verizon (1 GW) were the next largest corporate buyers of clean energy in 2020.

BNEF said the flow of new companies making clean energy commitments is another indicator of how much more the market can grow. 65 new companies joined the RE100 in 2020, pledging to offset 100% of their electricity consumption with clean energy. BNEF forecast that the 285 RE100 members will collectively need to purchase an additional 269 TWh of clean electricity in 2030 to meet their RE100 goals. Should this shortfall be met exclusively with offsite PPAs, it would catalyze an estimated 93 GW of new, incremental solar and wind build.

“Investor interest in sustainability is sky high, with inflows to sustainability-focused funds growing 300% between 2019 and 2020,” explained Harrison. “Companies in all sectors, including hard-to-abate ones like oil and gas and mining, are feeling the pressure to purchase clean energy and decarbonize. This group is only just scratching the surface on the amount of clean energy build it can catalyze.”

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/26/corporations-bought-record-total-of-clean-energy-despite-devastating-year/

Continue Reading

Energy

Solar O&M providers merge

Avatar

Published

on

NovaSource Power Services in 2020 took over the operations and maintenance businesses of SunPower and First Solar.

NovaSource Power Services and SunSystem Technology LLC, two operations and maintenance (O&M) providers, have merged to boost service to the U.S. and global solar markets.

NovaSource, a Texas-based portfolio company of Canadian private equity firm Clairvest Group, was founded in 2020 amid Clairvest’s acquisition of SunPower’s O&M business. NovaSource later bought First Solar’s North American O&M unit. The company said it currently manages more than 3.5 GW of commercial, industrial, and utility-scale projects.

California-based SunSystem Technology has been a leading U.S. distributed generation O&M provider, servicing residential portfolios, commercial system owners and asset managers, and EV charging station networks.

Through this merger, the combined group will operate as NovaSource and have a joint global workforce in nine different countries. Financial details of the deal were not disclosed.

NovaSource said the merger means its field technicians will now be within a one-hour drive of 95% of the U.S. solar infrastructure, helping cut time, save money, and increase services nationwide.

“The combined scale, coverage, and experience will bring tremendous value and capabilities to our existing and future customers,” said SunSystem CEO Derek Chase, who will lead NovaSource’s distributed generation O&M unit.

Jack Bennett, CEO of NovaSource, said that the merger will help asset owners meet their rapidly evolving needs.

Earlier this month, Consolidated Asset Management Services acquired the U.S. solar O&M unit of Belectric Inc., which oversees 141 operating sites in 11 states.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/26/solar-om-providers-merge/

Continue Reading

Energy

SCE agrees to $2.2 billion payout to settle wildfire claims

Avatar

Published

on

Southern California Edison agreed to pay $2.2 billion within the next 90 days to settle insurance claims stemming from the 2018 Woolsey Fire.

The utility also reached settlements with around 1,000 plaintiffs in litigation arising from the 2017/2018 Wildfire/Mudslide Events, which include the Woolsey Fire, the 2017 Thomas and Koenigstein fires, and the 2018 Montecito Mudslides.

The utility offered no admission of wrongdoing or liability in reaching the settlements.

In 2019, the utility said that it may have been responsible for starting the Woolsey Fire. That statement followed an investigation by fire officials.

The fire destroyed more than 1,600 structures, injured three firefighters, and killed three people as it burned near Malibu. It became one of the most destructive fires in the state, according to the California Department of Forestry and Fire Protection.

SCE estimates that potential losses for remaining claims could reach $4.6 billion and does not include any potential fines and penalties. The amount will be reduced by the $2.2 billion paid under terms of the insurance settlement.

SCE’s parent company, Edison International, said last year that it anticipates issuing around $1 billion of equity to invest in SCE to enable the utility to debt-finance claims payments and maintain investment-grade credit ratings.

The utility also will seek to recover uninsured costs resulting from the disasters through electric rates. Recovery is subject to regulatory approval.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/26/sce-agrees-to-2-2-billion-payout-to-settle-wildfire-claims/

Continue Reading

Energy

Dakota Power wins N.J. project approval, has billion-dollar solar plans

Avatar

Published

on

In addition to the 50 MW project, Dakota Power Partners has proposed developing at least five more utility-scale solar facilities across the Garden State.

Dakota Power Partners, which said it intends to invest $1 billion in utility-scale solar in New Jersey, has won approval for the developer’s first solar farm as part of what could become a large project portfolio.

The Millville Planning Board unanimously approved the 50 MW solar farm during its monthly meeting on January 12, clearing the way for construction to begin by year’s end. Called Nabb Solar I, the project will be located in western Millville and is anticipated to begin operation in fall 2022.

Timothy Daniels, Dakota’s principal and co-founder, said the local officials were “quick to see the value of this project.”

Over the 30-year expected life of the project, Nabb Solar I is estimated to generate a total of approximately $7.8 million in taxes. Dakota said it will pay annual real estate taxes of approximately $102,295 to the City of Millville, $67,547 to Millville Public Schools, and $98,166 to Cumberland County, for a total of $268,008 in local taxes per year.

Joe Derella, director of the Cumberland County Board of Commissioners, called the project a “massive $70 million investment in our region” that will create hundreds of jobs.

“This is what the future of energy looks like in New Jersey,” said Millville Mayor Mike Santiago.

Nabb Solar I is one of six similar New Jersey projects being proposed by Dakota Power Partners, which has offices in Millville and Denver, Colorado. In total, Dakota is proposing a $1 billion utility-scale solar investment in the Garden State.

Utilizing a portfolio of utility-scale solar and solar+storage projects across the state, the company said it intends to achieve generating capacity totaling more than 1 GW in New Jersey.

According Dakota, the company has participated in the development of more than 3.15 GW of operating and in-construction wind and solar projects around the U.S., representing an aggregate capital investment in rural communities in excess of $3.8 billion.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/dakota-power-wins-n-j-project-approval-has-billion-dollar-solar-plans/

Continue Reading
Blockchain4 days ago

Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash

Blockchain4 days ago

Bitcoin Correction Intact While Altcoins Skyrocket: The Crypto Weekly Recap

Blockchain4 days ago

MicroStrategy CEO claims to have “thousands” of executives interested in Bitcoin

Blockchain4 days ago

Canadian VR Company Sells $4.2M of Bitcoin Following the Double-Spending FUD

custom-packet-sniffer-is-a-great-way-to-learn-can.png
Blockchain5 days ago

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

Amb Crypto4 days ago

Monero, OMG Network, DigiByte Price Analysis: 23 January

NEWATLAS1 day ago

Lockheed Martin and Boeing debut Defiant X advanced assault helicopter

Amb Crypto2 days ago

Will range-bound Bitcoin fuel an altcoin rally?

Amb Crypto4 days ago

Chainlink Price Analysis: 23 January

Amb Crypto3 days ago

Bitcoin Price Analysis: 24 January

Amb Crypto4 days ago

Popular analyst prefers altcoins LINK, UNI, others during Bitcoin & Eth’s correction phase

Amb Crypto3 days ago

Bitcoin Cash, Synthetix, Dash Price Analysis: 23 January

Amb Crypto3 days ago

Why has Bitcoin’s brief recovery not been enough

Automotive3 days ago

Tesla Powerwalls selected for first 100% solar and battery neighborhood in Australia

Blockchain5 days ago

Bitcoin Cash Analysis: Strong Support Forming Near $400

Blockchain5 days ago

OIO Holdings Appoints Rudy Lim as CEO of Blockchain Business Subsidiary

Amb Crypto1 day ago

Former Goldman Sachs exec: Bitcoin ‘could work,’ but will attract more regulation

Amb Crypto3 days ago

Stellar Lumens, Cosmos, Zcash Price Analysis: 23 January

Amb Crypto3 days ago

Why now is the best time to buy Bitcoin, Ethereum

AI2 days ago

Plato had Big Data and AI firmly on his radar

Trending