Business powin energy storage system

Published on August 15th, 2014 | by Zachary Shahan

1

Suntech Jumps Into Energy Storage With $25 Million Investment

August 15th, 2014 by

powin energy storage system suntech

Suntech was the largest solar module manufacturer in the world for years, then a combination of some illegal moves and a harsh financial environment for solar module manufacturers crushed the company, leading it to bankruptcy. Suntech is finally on the upswing after all of that. However, rather than focusing solely on solar, the Chinese company is now looking to get into the next big emerging market, energy storage.

Suntech has reportedly invested $25 million into US energy storage company Powin Energy. That gives it a 30% stake in the company. Suntech also gets to appoint 4 of the 7 Powin Energy board members, and it can also acquire another 30% of Powin Energy with a $37.5 million investment.

Powin Energy uses lithium-ion batteries in its battery energy storage system. The storage system is for grid-scale energy storage.”Each unit has a total useful storage capacity from 250 to 500kWh with power converters capable of both charging and discharging the storage battery at a rate of 60 to 240kW using commands sent over a web-based user interface.”

Image Credit: Powin Energy

Keep up to date with all the most interesting green news on the planet by subscribing to our (free) Planetsave newsletter.




Tags: , , ,


About the Author

is the director of CleanTechnica, the most popular cleantech-focused website in the world, and Planetsave, a world-leading green and science news site. He has been covering green news of various sorts since 2008, and he has been especially focused on solar energy, electric vehicles, and wind energy since 2009. Aside from his work on CleanTechnica and Planetsave, he's the founder and director of Solar Love, EV Obsession, and Bikocity. To connect with Zach on some of your favorite social networks, go to ZacharyShahan.com and click on the relevant buttons.



  • http://www.ecofounder.net George Gray

    From solar to energy storage. Seem’s like a good switch as the demand for storage technologies is increasing. Interesting move for the company, thank you for sharing and I also completed your survey! – George

Back to Top ↑