Kelu Electronics plans to invest 1.5 billion yuan to build a smart energy industrial park project

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On February 22nd, Kelu Electronics announced that in order to effectively meet the demand for operating space due to the rapid development of energy storage business, the company plans to invest in the construction of a “smart energy industrial park project”, with the project implementation entity being the company, and the investment amount of the project is about 1.5 billion yuan.
According to the announcement, the total construction area of the “Smart Energy Industrial Park Project” does not exceed 251100 square meters, including research and development buildings, factories, dormitory buildings, underground garages, etc., with a construction period of about 2.5 years.
The construction of this project can effectively meet the demand for operating space for the rapid development of the company’s energy storage business, provide guarantee for the company’s further expansion of production capacity, consolidate and expand the company’s comprehensive competitive advantage, and facilitate the company’s long-term development.
Founded in 1996, Kelu Electronics is a national key high-tech enterprise focusing on energy development, transmission, distribution, use, and storage products, integrating independent research and development, production, sales, and services. The company is a leading comprehensive energy service provider in China, mainly engaged in three major businesses: smart grid, new energy, and comprehensive energy services.
As a leading enterprise in the field of new energy storage, Kelu Electronics has complete energy storage solutions and energy storage system integration capabilities. According to public information, since 2018, Kelu Electronics has newly signed the Energy Storage and Frequency Modulation Project of Inner Mongolia Energy Power Generation Xinfeng Thermal Power Co., Ltd., the Energy Storage and Auxiliary Frequency Modulation Project of Ulanqab Xinghe Power Plant, the Energy Storage and Frequency Modulation Project of Hebei Construction Investment Xuanhua Thermal Power Co., Ltd., the Energy Storage and Auxiliary Frequency Modulation Project of China Resources Power (Haifeng) Co., Ltd Guangdong Yuedian Yunhe Power Generation Energy Storage and Frequency Modulation Project and many other energy storage and frequency modulation projects, as well as the awarded EPC contract for Lot 002 of Zhenjiang East Power Grid Energy Storage Demonstration Project.
Since 2018, China’s energy storage market has rapidly warmed up, and multiple grid side and user side energy storage projects have been put into operation. Therefore, with the gradual deepening of commercialization of energy storage and the increasing number of energy storage projects in which Kelu Electronics participates, the energy storage business may become an important profit growth point for Kelu Electronics.
Under the new economic situation, China is facing dual pressures of energy environment and economic development, and the revolutionary demand for energy production and consumption is very urgent. The outline of the 13th Five Year Plan clearly proposes to actively build a smart energy system, promote the deep integration of new technologies in the fields of energy and information, coordinate the construction of infrastructure networks such as energy, communication, and transportation, and build an energy internet with coordinated development and integrated complementarity of “source network load storage”.
At present, more than 300 cities in China have launched the planning and construction of smart cities, providing a comprehensive platform and policy support for the development of the energy interconnection WAN. The construction of the “the Belt and Road” also provides a broad development space and international market for the development of the energy interconnection backbone network. Therefore, from the perspective of development and prospects in the field of smart energy, it is relatively broad.

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