BAKU,Azerbaijan,Nov. 18,2024 -- As COP29 kicked off under the theme "In Solidarity for a Green World",the event brought together global leaders,policymakers,and industry stakeholders from nearly 200 nations to advance climate action and sustainable development. Thompson Meng,Vice President of Sungrow PV & Storage Business Group,participated in a roundtable discussion on Driving Global Energy Transformation Through Effective Renewable Energy Industry Cooperation. He shared insights into key industry trends,and underlined Sungrow's commitment to achieving a zero-carbon world through renewable energy innovation.

Tackling the Energy Transition Challenges

In 2020,just 1.7% of the world's electricity was produced by solar and wind. Last year,solar and wind produced 13.4% of the world's electricity -- an all-time high. Solar and wind added more new energy to the global mix than any other source.[1]

At COP29,Meng outlined a powerful vision for the renewables' role as core energy resources. However,high levels of renewable energy penetration and the widespread power electronics usage pose challenges to grid stability and resilience. Furthermore,the increase in electric vehicle (EV) adoption,while a positive step towards reducing emissions,adds a level of demand-side fluctuation that current grids are not fully equipped to manage.

Meng emphasized that building a renewable-centered power system is essential for carbon neutrality. To ensure grid stability and resilience,the renewable energy systems must be equipped with the ability to provide inertia support,as well as frequency and voltage regulation. Consequently,grid-forming technologies are attracting growing attention within the industry,especially the solar and energy storage grid forming technologies.

Meng exampled an incident occurred on Christmas Eve 2023,when a high-voltage transmission line between the UK and France suddenly tripped,causing the UK grid to instantly lose 1 GW of power and leading to a frequency drop from 50 Hz to 49.3 Hz. At that time,wind power accounted for over 50% of the energy generation,leading to insufficient grid inertia support and exacerbating the rapid frequency drop.

In this incident,Sungrow's multiple grid-scale energy storage systems with grid-forming technologies responded within seconds,helping restore grid stability and preventing an extensive blackout. By participating in the frequency response market and responding dynamically to fluctuations,Sungrow's energy storage systems demonstrated their value in maintaining reliable grid operation.

Innovation and Best Practices

The unconditional commitment to innovation is key to move forward to a cleaner planet and meet the company's sustainability targets. Sungrowis very adamant that technicalinnovationis in itsDNAand has cultivated a team of experienced R&D professionals with strong capabilities in innovation,driving the company's position as a leader in renewable energy. The company operates six research centers across Hefei,Shanghai,Nanjing,Shenzhen,Germany,and the Netherlands,ensuring a robust global R&D network. The growing demand for renewable energy infrastructure poses another challenge: ensuring the availability of scalable solutions. This extensive R&D network enables Sungrow to deliver competitive solutions in solar,wind,energy storage,EV equipment,and green hydrogen for a wide range of applications.

"We've learned how to capture renewable energy. What's more: We're doing it. By innovating both technology and business models,we're making clean energy more accessible and affordable worldwide,advancing a more equitable energy landscape," Meng added.

Sungrow's landmark projects exemplify how to address the technical and economic challenges of renewable integration. The NEOM Green Hydrogen Project in Saudi Arabia,for instance,is set to become one of the world's first hydrogen production facilities powered entirely by renewables. NEOM,a futuristic city in northwestern Saudi Arabia,aims to redefine sustainable urban development through advanced technology and clean energy. Sungrow is supplying 2.2 GW of PV inverters and a 600 MWh energy storage system to support this project,aligning with Saudi Arabia's vision for a green economy.

Additionally,Sungrow's 7.8 GWh battery storage project in Saudi Arabia,one of the largest globally,underscores the essential role of storage in stabilizing grids and managing renewable variability. The project will be supplied with Sungrow's latest innovation -- the liquid-cooled energy storage system PowerTitan 2.0.

The company has also supplied the host country -- Azerbaijian with the national first and largest utility-scale solar project. The plant provides clean energy to more than 110,000 homes.

Global-local approach

Energy systems transformation is one of the several era-defining megatrends that will shape our future. Sungrow,driven by its mission of providing "Clean power for all",plays a vital role in the energy transition.

Sungrow's global reach,with operations in over 170 countries,and its local teams that provide expert technical assistance and after-sales support with more than 490 service outlets,makes it possible to deliver tailored solutions to different markets. This global-local approach ensures that Sungrow's customers receive reliable,long-term support,helping them maximize the performance of their systems while contributing to the broader energy transition.

As the world continues to move toward a more sustainable energy future,Sungrow will remain at the forefront,driving innovation and supporting its partners in achieving cleaner,more efficient and more reliable power solutions for all.

[1] https://www.forbes.com/sites/esri/2024/11/12/cop-29-moving-beyond-aspirations/

About Sungrow

Sungrow,a global leader in renewable energy technology,has pioneered sustainable power solutions for over 27 years. As of June 2024,Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world's No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries,supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow,we're committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information,please visitwww.sungrowpower.com.

Contact:

Mina Zhang

mina.zhang@cn.sungrowpower.com