Under the trend of rapid expansion of production capacity of global energy storage battery companies, Penghui Energy is also following suit. On May 22, 2023, Penghui Energy held the 39th meeting of the fourth board of directors, and reviewed and approved the "Proposal on Investing in the Construction of an Energy Storage Battery Project with an Annual Production of 36GWh", which means that the company plans to set up a project in Shandong Province, China. Chengyang District, Qingdao City is investing and constructing Energy Storage No. 1 Project, with a total investment of 13 billion yuan.

The project aims to produce energy storage batteries with an annual output of 36GWh. The project will be divided into three phases, of which the first phase will build an annual output of 12GWh energy storage battery project; the second phase will build an annual output of 12GWh energy storage battery project; the third phase will build an annual output of 12GWh energy storage battery project.

From the perspective of the construction cycle, the first phase of the project is planned to start construction before the end of September 2023 and be completed and put into operation before the end of December 2024.

At present, Penghui Energy's new energy storage production lines in Quzhou Base, Changzhou Base, Henan Base, and Liuzhou Base are all under construction. It is expected to start production in the third quarter of 2023 and contribute part of the production capacity in the fourth quarter. The Quzhou 10GWh energy storage project company has invested in advance, the factory building has basically been built, and the production line equipment has entered the factory one after another. It is expected to be completed and put into operation in the second half of the year. Editor / Zhao E