According to bjx.chuneng.com, on April 2, Deye shares released the announcement of wholly-owned subsidiary signing project investment agreement, the announcement shows that the name of this investment project is Ningbo Deye Energy Storage Science and Technology Co. (hereinafter referred to as “Deye Energy Storage”) and the Management Committee of Cixi Binhai Economic Development Zone signed the “Investment Agreement” to invest in Cixi Binhai Economic Development Zone to build an annual production capacity of 16GWh industrial and commercial storage production line project (invested in two phases, the first phase of 7GWh, the second phase of 9GWh).
Investment amount: the investment in fixed assets for Phase I is expected to be not less than RMB 895 million, and the investment in fixed assets for Phase II is expected to be not less than RMB 1,232 million (subject to the actual investment amount), and the Company will choose to apply for the Phase II site from Party A according to the actual business development.
According to the announcement, the source of funds for the project is Deye Energy Storage's own funds or self-financing. Deye Energy Storage will start the project promptly after signing the Contract for Granting the Right to Use State-owned Land for Construction, and will complete the project and put it into operation within 36 months after taking the land, and reach the production review within 60 months.
Deye shares said, geopolitics, high electricity prices, policy support and other factors, overseas industrial and commercial storage market demand further release. This investment project is based on the needs of the company's strategic development and the judgment of the industrial and commercial energy storage system market prospects, to meet the future industrial and commercial storage sales scale growth needs. The successful implementation of subsequent projects will have a positive impact on future operating results.
It is worth noting that the pace of Deye shares overseas is still accelerating. Following the announcement in December last year not more than 150 million U.S. dollars to invest in the construction of Malaysia's production base, Deye shares in March 4 announcement that the company has completed the establishment of the Malaysian subsidiary of the registration, and intends to nearly 200 million yuan to buy a plot of land of about 133,200 square meters.
Source：https://news.bjx.com.cn/html/20250402/1435061.shtml