Huangpu subsidizes new energy storage with up to 100 mln RMB

On June 21, Huangpu District (formally known as Guangzhou Development District) held a groundbreaking and signing ceremony for the 166 major projects settled in the district in the second quarter of 2023.

The total investment of these projects is about 201.5 billion RMB, and their estimated output will be 247.2 billion RMB, among which 28 projects are new energy storage projects with a total investment of about 35.5 billion RMB and an estimated output of about 81.2 billion RMB.

In addition, the district issued special supportive policies with up to a 100 million RMB subsidy to accelerate the development of the new energy storage industry during the ceremony.

Xian Yinsong, Executive Chief of Huangpu District, addressed at the ceremony that new energy storage will be a pillar industry in Guangdong Province and Guangzhou City based on the provincial and municipal plans. It will be a trending industry to develop in Huangpu District as well.

Since 2023, Guangdong has announced plans to make the new energy storage sector one of its pillar industries. Guangzhou will host industrial clusters for the production of advanced equipment, energy storage management systems, and battery energy storage.

The TZE (TCL's energy subsidiary) Guangzhou 25GW Battery Project, the first grand photovoltaic manufacturing project in Guangzhou, was highlighted with an investment of about 10.6 billion RMB. The project plans to establish a smart factory with 25GW of solar capacity and produce TOPCon batteries, whose energy conversion efficiency will take the lead in the industry.

The project covers an area of 476 thousand square meters. It is planned to be completed and put into operation in 2024, with an estimated output of 16 billion RMB.

Li Dongsheng, Founder of TCL, believes that the development of the PV (photovoltaic) industry is promising worldwide, and the market demand has been increasing.

"Chinese enterprises should promote technological innovation and upgrade to feed such a rapidly developing market so that they can maintain the market shares and improve their competitiveness," said Li.

He also noted that Guangzhou has great potential to develop the PV industry, since it has a suitable ecological environment with well-developed upstream and downstream supply chains.

According to the Guideline to Promote New Energy Storage and Energy & Electronics Industry in Guangzhou Development District (Huangpu District) released at the ceremony, newly introduced projects with fixed assets investment of more than 50 million RMB will be supported by 10 percent of the total fixed assets investment, with a maximum of 100 million RMB for a single project. Subsidies for renting offices or factories in the district will be up to 500 thousand RMB for enterprises with an annual output value of more than 50 million RMB.

Enterprises will be awarded a maximum of 1 million RMB annually for new energy storage products manufactured in the district, if they have obtained authoritative market access certifications from the EU, the US, Japan, and South Korea.

Reporter丨Nina

Editor丨Olivia, Nan, Jasmine, James

Photo provided to GDToday