On May 11th, Yotai, in collaboration with Shenzhen Capital Group's subsidiary, the long-established energy enterprise Shenzhen Nanshan Electric Power Co., Ltd. (hereinafter referred to as "Nanshan Electric"), launched the "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" in operation. It is noted that this project marks Shenzhen's first high-low voltage access ESS project.
Officials including Zhu Zhiqiang, Deputy Secretary and General Manager of Shenzhen Capital Operation Group, Li Angang, Deputy Secretary of the Party Committee of Shenzhen Capital Operation Group, Gu Wei, Chairman of Shenzhen Zhaochi Co., Ltd., Kong Guoliang, Secretary of the Party Committee and Chairman of Shenzhen Nanshan Electric Power Co., Ltd., Sheng Jianming, Chairman of Shenzhen Yotai Technology Co., Ltd., as well as leaders from Shenzhen Capital Group, Zhaochi Co., Ltd., Nanshan Electric, and Yotai attended the operation ceremony.
Zhaochi Co., Ltd. (002429.SZ), established in 2005 and holding by Shenzhen Capital Operation Group, with a market value exceeding 20 billion, is a leading global TV ODM company. According to Loutoo Technology data, Zhaochi Co., Ltd. shipped approximately 10.5 million TV units throughout 2023, ranking third among global TV ODM factories with a year-on-year growth of 24.70%. The 2023 annual report of Zhaochi Co., Ltd. also indicates a revenue of 17.167 billion RMB in 2023, with a year-on-year increase of 14.23%. Zhaochi Innovation Industrial Park is the headquarters of Zhaochi Co., Ltd., covering an area of 148,000 square meters with a total construction area of 700,000 square meters. It possesses multiple production lines including TV, set-top boxes, optical modems, LED components, etc. With high peak electricity consumption and high monthly electricity costs, it is a typical high-energy-consuming park with strong demands for economic, reliable, and stable electricity supply.
Yotai, in conjunction with Nanshan Electric, tailored an industrial and commercial ESS solution for Zhaochi Co., Ltd., with a project scale of 3.75MW/7.99MWh, accessing both high voltage 10kV and low voltage 400V. Following its operation, the project is expected to reduce peak load by over 4 million kWh annually through peak shaving, significantly lowering the park's electricity costs. Additionally, the project can provide backup power for the park, enhancing its power supply stability.
It's worth mentioning that this project is Shenzhen's first high-low voltage access ESS project. High voltage 10kV access ESS projects demand extremely high safety requirements, efficient heat dissipation, comprehensive fire suppression strategies to prevent thermal runaway, ensuring the safe operation of containerized equipment under 10kV high voltage, thus becoming a key aspect of project construction. Moreover, high voltage access also increases grid connection difficulty, necessitating solutions for harmonic control, voltage regulation, and other issues to mitigate its impact on grid stability. Therefore, high voltage access ESS projects require special approval from the power supply bureau. For Zhaochi Innovation Industrial Park, the 10kV high voltage brings higher system integration efficiency, significantly reducing line losses, and carrying larger energy capacity to meet the park's high electricity demand. Highly integrated containerized ESS systems also significantly reduce costs.
With the continuous advancement of the "dual carbon" goals, new ESS has become an important component of new energy infrastructure due to its crucial role in accommodating new energy and stabilizing grid operation. In recent years, the state has continuously introduced policies to promote new ESS. On March 5th of this year, the government work report mentioned the development of new ESS for the first time in the context of strengthening ecological civilization construction and promoting green and low-carbon development. On April 2nd, the National Energy Administration issued the "Notice on Promoting the Grid Connection and Dispatching Application of New ESS," proposing active support for the development of joint dispatching modes such as new energy + ESS, aggregated ESS, and integrated photovoltaic ESS, prioritizing the dispatch of new ESS pilot demonstration projects, and fully tapping into the value of various types of ESS.
Nanshan Electric is a long-established energy enterprise under Shenzhen Capital Group, having supplied 70 billion kWh of electricity to Guangdong Province and Shenzhen City since its establishment. Faced with national policies and industry changes, Nanshan Electric fulfills its state-owned enterprise mission, actively implements new energy policies, leverages its own advantages, embraces innovation, and explores new paths in ESS business. On October 18, 2023, Nanshan Electric announced a 100 million RMB investment in the ESS industry fund. The joint construction of the "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" with Yotai is another important measure for Nanshan Electric to deeply implement the national 3060 strategy and expand the company's layout in the new ESS industry.
The collaboration with Nanshan Electric to construct the "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" reflects the comprehensive strength of Yotai. As a leading global provider of comprehensive new energy solutions, Yotai has established seven major production bases nationwide, with a total workforce of nearly 2,000 people, possessing strong advanced manufacturing capabilities and rapid delivery capabilities. The "ESS + X" comprehensive solution covers more than 20 scenarios including source-side, grid-side, C&I, zero-carbon parks, and green transportation. In 2023, signed ESS projects exceeded 5GWh.
Sheng Jianming, Chairman of Yotai, expressed gratitude to Nanshan Electric for choosing Yotai and for their trust and support during the project implementation process. He stated that the "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" is a joint response by Nanshan Electric and Yotai to the national dual carbon goals and a new action to implement the development plan for new ESS in Shenzhen, providing a replicable and scalable best energy solution for industrial park ESS.
Kong Guoliang, Secretary of the Party Committee and Chairman of Nanshan Electric, congratulated the successful operation of the project and stated that this project is a successful case of complementary advantages and cooperative construction between Nanshan Electric and Yotai. In the future, Nanshan Electric will combine its own advantages to actively explore new paths in the ESS business and contribute more to the national dual carbon goals.
Chairman Gu Wei of Zhaochi Co., Ltd. warmly welcomed the distinguished leaders and guests attending the commissioning ceremony and expressed gratitude to Shenzhen Nanshan Electric and Yotai for their contributions. Gu Wei praised the project as safe, reliable, green, efficient, and intelligent, providing Zhaochi Co., Ltd. with a more stable and economical energy solution, thereby helping Zhaochi Co., Ltd. optimize operating costs. The "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" is Shenzhen's first high-low voltage access ESS project, demonstrating Zhaochi Co., Ltd.'s firm commitment to technological innovation and sustainable development.
Deputy Secretary and General Manager Zhu Zhiqiang of Shenzhen Capital Group delivered a speech, stating that the project equips Zhaochi Innovation Industrial Park with new ESS, assisting Zhaochi Co., Ltd. in achieving stable, efficient, and economical energy use, creating a green and low-carbon park, and providing impetus for Shenzhen to build a world-class new ESS industry center.
At the commissioning ceremony, Shenzhen Capital Group, Zhaochi Co., Ltd., Shenzhen Nanshan Electric, and Yotai jointly initiated the C&I ESS equipment at Zhaochi Innovation Industrial Park. Subsequently, the leaders and guests visited the ESS project and highly praised the construction achievements.
The establishment of the "Nanshan Electric-Zhaochi Innovation Industrial Park C&I ESS Project" signifies that Yotai and Shenzhen Nanshan Electric have completed the integration of their advantageous resources and promoted the overall process of building Shenzhen into a highland of ESS. In the future, both parties will further strengthen cooperation in new ESS, zero-carbon park demonstration projects, and other areas, leveraging their respective technological, talent, market, and cost advantages to jointly promote the high-quality development of Shenzhen's new ESS industry.
