October 12, 2024: Lead and lithium battery maker Narada Power has signed a procurement contract with a Western Australian energy storage project company to supply lithium battery energy storage systems.

The project, located in Queensland, is valued at approximately Rmb160 million ($22.5 million) and will use Narada’s Center L Plus Liquid Cooling energy storage system.

Queensland aims to achieve a renewable energy share of 70% by 2032, with plans to increase this to 80% by 2035, as it reduces reliance on coal-fired power.

The rapid growth of the PV sector has put pressure on the local grid, creating a strong demand for large-scale energy storage projects.

Narada ranks among the industry leaders in global shipments of energy storage systems and batteries. In 2023, revenue from new energy storage increased by 367% year-on-year.

This January Zhu Baoyi, Narada’s chairman and president, said the company was marking 30 years in business by ramping up global sales of its lead and lithium energy storage systems. He said their production base in Anhui province had an annual production capacity of 3GWh of ESS lithium batteries — while the firm could also process around 1.2 million tonnes of used lead storage batteries and 70,000 tonnes of used lithium batteries annually.

Zhu says cumulative shipments of Narada’s ESS products to date have exceeded 50GWh, with projects in more than 160 countries and regions.