(Yicai) July 18 -- Jiangsu Linyang Energy is planning to build energy storage facilities overseas, with Southeast Asia, Europe and the Middle East identified as the Chinese smart energy company’s three key regions for international growth. Of them, Europe is the priority market, the firm’s vice chairman told Yicai in a recent interview.

"Europe has strong demand for energy storage due to its aging power grid and favorable storage policies,” Lu Danqing said. “We chose Poland as our key anchor in the European market, and are considering building an energy storage plant there.”

In the third quarter last year, Linyang set up a sales, technical support, solutions and after-sales service center for its energy storage business in Warsaw, Poland and already has a full team in place.

Linyang already operates a smart meter factory in Indonesia and in the future, depending on local policies, it may add energy storage production facilities on that site.

In the Middle East, Linyang has set up a joint venture energy storage factory with its strategic partner ECC. The facility includes the production of smart meters and energy storage systems. In Southeast Asia, Linyang has an energy storage operations center in Jakarta, Indonesia, with a full team already assembled, the company previously said.

Since the second half of last year, Linyang has been fully focussed on expanding into overseas markets. 2025 is expected to be the first year that the company achieves large-scale international sales of its energy storage products, company management said at the 2024 earnings call.

Last year, the global energy storage market performed very well, with newly installed capacity surging 76 percent from the year before to 69 gigawatts/169 gigawatt hours.

The global energy storage market is projected to achieve a compound annual growth rate of 17.1 percent by 2035, with annual new capacity reaching 228 GW/965 GWh, according to BloombergNEF. This growth rate far outpaces that of wind and solar over the same period, positioning energy storage as one of the energy sector’s most promising growth areas.

Linyang mainly operates in three business segments, namely smart grids, renewable energy and energy storage. The energy storage segment focuses on solutions for renewable power generation, independent energy storage power stations, industrial and commercial energy storage systems, and user-side microgrid applications of solar-plus-storage.

Editor: Kim Taylor