3500 / 1.65 billion! Inverter veteran on the electric constant increase and expansion

1.65 billion! Inverter veteran on the electric constant increase and expansion

Recently, the inverter veteran Shanghai Electric announced that it plans to increase 1.65 billion yuan, which will be used to invest in the construction of 25GW group series photovoltaic inverter project with an annual output of 15GW energy storage converter project and supplement working capital.

This addition is the further expansion of the main business of Shangneng Electric. Before the raised funds are in place, the company may first invest through self-raised funds according to the actual progress of the implementation of the raised funds investment project, and replace the raised funds in accordance with the procedures prescribed by relevant laws and regulations after the raised funds are in place.

Relevant data show that Shangneng Electric was established in 2012, and in 2014 acquired the world’s top 500 Emerson’s photovoltaic inverter business and absorbed the core research and development team. Entered the energy storage market in 2017, mainly engaged in the research and development and production of energy storage PCS. Listed on Shenzhen Stock Exchange in 2020.

The company is one of the major manufacturers of photovoltaic inverters and energy storage converters in the world. At present, photovoltaic inverter products rank among the top three in China in the bidding of centralized ground power stations, and energy storage converters have ranked first in the shipments of domestic energy storage PCS of Chinese enterprises for many consecutive years.

At present, in the main business of Shangneng Electric, photovoltaic inverters account for 71.83%, and energy storage bidirectional converters and energy storage system integrated products account for 26.34%. In 2024, Shangneng Electric’s photovoltaic inverter product shipments ranked fourth in the world.