Sungrow Power Supply(SZ:300274) 鑫椤储能·2025-07-29 02:11Core Viewpoint - The collaboration between Sunotec and Sungrow to deploy a 2.4GWh battery energy storage system in Bulgaria marks a significant breakthrough for Chinese energy storage technology in the Central and Eastern European market, enhancing the region's energy transition efforts [1][2]. Group 1: Project Overview - The partnership includes two types of projects: integrated photovoltaic and storage sites, and independent storage power stations, with some projects included in Bulgaria's national funding program "RESTORE" [2]. - The 2.4GWh storage capacity will increase Bulgaria's current storage capacity nearly fivefold, addressing issues related to photovoltaic output fluctuations and ensuring stable power supply during peak demand [2]. - Sungrow will provide its PowerTitan 2.0 storage system and inverters, which are well-suited for Bulgaria's extreme climate conditions [2]. Group 2: Market Dynamics - Bulgaria's "RESTORE Plan," launched in 2023 with a budget of €1 billion, supports renewable energy and storage integration projects, offering up to 30% investment subsidies for qualifying projects [2]. - Central and Eastern Europe is emerging as a new investment hotspot for energy storage due to abundant solar resources and urgent storage needs, driven by the EU's renewable energy targets [3][4]. Group 3: Global Market Position - Chinese energy storage companies are gaining market share globally, with 43% of new storage projects in 2024 utilizing solutions from Chinese firms, and Sungrow holding a 16.7% market share, ranking second worldwide [5]. - The successful implementation of the Bulgaria project reflects the comprehensive competitiveness of the Chinese energy storage industry, which spans from battery cells to system integration [5]. - The collaboration exemplifies the need for cross-border cooperation in energy transition, combining Chinese manufacturing capabilities with European market demands [5].