POWERCHINA Ltd(SH:601669) Zhi Tong Cai Jing·2026-02-18 06:25Core Insights - In January 2026, China's energy storage market experienced a significant increase in bidding, with a total bid volume exceeding 72 GWh, marking a year-on-year growth of 151% [2][4] - The central and state-owned enterprises contributed significantly to the annual bidding, with a total winning bid volume of 24.64 GWh [2][8] Bidding Volume - The total new bidding volume for energy storage in January 2026 reached 15.07 GW/72.03 GWh, representing a year-on-year increase of 109% in power and 151% in capacity, despite a month-on-month decline of 10% in power scale and a 45% increase in capacity scale [2] - The EPC project bidding volume was 10.68 GW/27.17 GWh, showing a month-on-month decline of 20% in power and 15% in capacity [5] - The bidding volume for energy storage systems was 4.39 GW/44.86 GWh, with a month-on-month increase of 28% in power and 153% in capacity [2] Winning Bids - The total new winning bid volume for energy storage in January 2026 was 9.77 GW/24.64 GWh, with a year-on-year power increase of 51% but a 15% decline in capacity [8] - The leading regions for winning bids were Ningxia (6.92 GW), Xinjiang (5.69 GW), and Hebei (4.05 GW), contributing significantly to the overall winning bid volume [8] - The EPC project winning bid volume was 8.64 GW/21.04 GWh, with a month-on-month decline of 42% in power and 45% in capacity [8] Pricing Trends - The average bid price for 2-hour energy storage systems increased slightly to 0.51 yuan/Wh, reflecting a month-on-month rise of 14% [11] - The average bid price for 4-hour energy storage systems decreased to 0.42 yuan/Wh, showing a month-on-month decline of 12% [11] - The EPC bid price for 2-hour systems ranged from 0.58 to 2.05 yuan/Wh, with an average of 1.02 yuan/Wh, down 7% month-on-month [13]