Narada Power won the bid of 2022-2023 China Tower lithium battery projects for backup power supply. Winning this project will further consolidate our dominant position in the field of industrial energy storage business.
Since the beginning of this year, we have successively won several energy storage project orders, such as industrial energy storage project over 3.9 billion yuan and new power energy storage projects over 1.3GWh.
In recent years, with excellent products and first-class services, we have cooperated with numerous partners in energy storage industry ecosystem, constantly expanding the new business territory in energy storage industry, to forge a high-quality development.
As major suppliers of China Tower, we have been cooperating in industrial energy storage for many years. With the implementation of the new national standard for electric vehicles and the proposal of "carbon peaking and carbon neutrality", China Tower has carried out battery swapping and exchanging business since 2019. Based on demands, we have independently developed lithium batteries to support their swapping and exchanging needs.
After battery swapped, we also take good responsibility of battery recycling to protect environment by preventing waste batteries flowing into the market randomly.
Meantime, relying on the advantages of more than 2 million base stations, China Tower also enters the energy storage business by allocating, storing and utilizing energy in their base stations. Following by their business pattern developing, we have explored a new mode of integrated development named as "backup power + energy storage".
The stored power can be used as an uninterruptible power supply also as an energy storage power station to generate electricity. This model can not only realize energy saving and emission reduction of data centers and base stations, but also produce huge economic benefits through peak loading shifting.
In the future, we will continue to work with our partners in the energy storage industry ecosystem, jointly capture the "mutual point", strengthen cooperation in shared energy storage and virtual power plants, and promote the safe and rapid development of the energy storage industry.
