03 October 2024
03 October 2024
The EU’s electrification rate has stagnated at 23% for the past decade, while China's has grown by 7% since 2015.
The project was intended to deliver a commercial-scale hydrogen supply chain in the industrial and port precinct in Newcastle, Australia.
The investment includes developing integrated energy systems for solar power, storage, heating, and EV charging.
Chinese companies have diversified their portfolios across the world as they look to avoid tariffs from Western nations.
The facility aims to strengthen Powin's position in the global energy storage sector.
Axess Technologies will start the project in Q1 2025.
Together, the three assets will offer 900MWh of storage capacity.
The upcoming winter months are set to help wind become the leading generator of renewable electricity, but installed capacity from solar remains strong.
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