Sungrow Power Supply(SZ:300274) 起点锂电·2025-09-18 08:35Core Viewpoint - The article discusses the upcoming energy storage project in Egypt, led by Sungrow Power Supply Co., which aims to establish a 10GW battery factory, significantly contributing to the country's energy transition and localizing the renewable energy industry chain [2][3]. Group 1: Project Overview - Sungrow Power's chairman met with Egypt's President Sisi to propose a large-scale energy storage project, which is expected to support Egypt's renewable energy goals [2]. - Scatec, a Norwegian company, has already invested $3.6 billion in various renewable energy projects in Egypt, including solar power and battery storage systems [3]. - The Egyptian government is committed to supporting the project, indicating a favorable policy environment for renewable energy development [3]. Group 2: Company Performance - Sungrow Power has been active in international markets, securing projects in Japan (500MWh), Finland (100MWh), Chile (1GWh), and Africa (612MWh) [3]. - The company has a long history in the energy storage sector, having established a dedicated division in 2006 and formed a joint venture with Samsung SDI in 2014 [4]. - The energy storage segment has seen explosive growth, with revenues reaching approximately 17.8 billion yuan in the first half of the year, doubling year-on-year and surpassing the inverter business to account for about 41% of total revenue [7]. Group 3: Market Dynamics - The surge in energy storage has positively impacted related photovoltaic companies, with Sungrow Power reporting a net profit of 7.8 billion yuan in the first half of 2025, despite challenges in the broader photovoltaic supply chain [5][6]. - The integration of solar and storage technologies is becoming a reality, with storage inverters emerging as a key growth area for manufacturers [8]. - Sungrow Power has significantly invested in R&D, with a team of 7,120 people and R&D expenditure reaching 2.037 billion yuan, a 37.08% increase year-on-year [8].