The project will cost more than $700 million in total, with Amea Power holding a 60% stake and Japan's Kyuden International Corporation owning the remaining 40%.
The project, owned and operated by AES Distributed Energy, consists of a 28 MW solar photovoltaic (PV) and a 100 MWh five-hour duration energy storage system. AES designed the unique DC-coupled solution, dubbed “the PV Peaker Plant,” to fully integrate PV and storage as a power.
The project, undertaken by China Gezhouba Group Co., Ltd of the Energy China under an EPC contract, adds strong momentum to Guangdong Province's efforts to build a trillion-yuan-level industry cluster of new energy storage.
Energy storage costs vary significantly depending on configuration, duration, chemistry, and integration scope. In 2024, benchmark costs for utility-scale BESS ranged between USD 300–500/kWh installed, with LFP systems being the most cost-efficient.
At the optimal investment times, the specific capital expenditure is estimated to range from $882/kW to 1,177/kW, while the levelized cost of storage (LCOS) ranges from $0.