BYD building 2nd power storage station in China

Shanghai October 12 (Gasgoo.com) On the heels of signing the "MW Power Storage Station Cooperation Framework Agreement" with China Southern Power, BYD Co. announced yesterday it has just signed a "10MW Power Storage Station Cooperation Framework Agreement" with Hunan Electric Power Corporation, the Beijing News reported Tuesday. 

The Chinese electric carmaker, backed by U.S. billionaire Warren Buffett, did not disclose any details about the project yet. In addition to the electric vehicles and solar power station, the power storage station is also an important part of BYD's development of new energy vehicles.

Not long ago, BYD formed a partnership with the Los Angeles Department of Water and Power (LADWP) to develop a grid-scale battery project for renewable energy storage.

At the end of September, it signed a cooperation framework agreement with China Southern Power Grid Co., Ltd. to build a power storage station in Longgang District, Shenzhen, and construction is expected to be completed at the end of this year.

Relying on the iron battery technology of BYD, the two sides will make joint efforts to solve storage problems with smart grid, through peak-clipping and valley-filling.

BYD's iron battery technology can increase the batteries' energy density to the level of more than four times of the sealed lead-acid batteries'. The batteries can be charged 7,000 times and last approximately 20 years if charged and discharged once per day.