Sineng Electric's 5GW energy storage PCS project implementation entity changes

Recently, Sineng Electric announced that the implementation entity of its 5GW energy storage PCS project has been changed from the company to its subsidiary Wuxi Guangyao Energy. The project was launched in June 2022 and plans to raise 420 million yuan, mainly for 5GW energy storage PCS and system integration projects. At present, the project has invested 25.4 million yuan, with a progress of 10.38%, and is expected to be put into operation on June 30, 2024.