How much money will Hunan yuneng New Energy Invest?

On April 24, Hunan Yuneng New Energy announced that it plans to invest around RMB 8 billion in the development of the phase 2 of its Yunnan manufacturing base. This capacity expansion will be implemented through its wholly-owned subsidiary Yunnan Yuneng New Energy Battery Material. Furthermore, the funding will primarily come from Yuneng itself.

How will Yunnan expand its capacity?

This capacity expansion will be implemented through its wholly-owned subsidiary Yunnan Yuneng New Energy Battery Material. Furthermore, the funding will primarily come from Yuneng itself. The phase 2 of the Yunnan base will comprise production lines for LiMnxFe1-xPO4, iron (III) phosphate, and hydrogen peroxide.

Is yuneng a ternary cathode company?

Yuneng’s main offerings are LFP and ternary cathode materials that used in Li-ion batteries, though much of the recent focus has been on the former. The company’s own annual report for 2022 stated that its market share for LFP rose from around 25% in 2021 to around 29% in 2022.

What will China's energy storage systems look like in 2024?

Furthermore, the sustained growth in the demand for utility-scale Energy Storage Systems (ESS), driven by challenges in the consumption of wind and solar energy, is noteworthy. TrendForce predicts that China's new utility-scale installations could reach 24.8 gigawatts and 55 gigawatt-hours in 2024.

What is Phase 2 of Yunnan base?

The phase 2 of the Yunnan base will comprise production lines for LiMnxFe1-xPO4, iron (III) phosphate, and hydrogen peroxide. There will also be a line for the additional processing of lithium carbonate as well as other supporting facilities. Previously, Yuneng disclosed that the phase 1 of the Yunnan base entailed an investment of RMB 6 billion.

What is Hunan yuneng's production capacity in 2022?

As of the end of 2022, Hunan Yuneng’s annual production capacity and annual production volume for LFP had come to around 348,000 tons and 337,200 tons respectively. The utilization rate of its production capacity for LFP had also reached 96.82%. The planned annual production capacity for LFP at that amounted to around 140,000 tons.