SNEC 2026 Sees Energy Storage Order Volume Surpass 92.7 GWh
From June 3 to 5, SNEC 2026 was held at the National Exhibition and Convention Center in Shanghai, with the energy storage segment dominating the event. According to incomplete statistics from EnergyTrend, total signed orders and strategic cooperation agreements for energy storage exceeded 92.7 GWh during the exhibition. Ganfeng Lithium Battery signed over 30 GWh, Hithium and Midea Clou Electronics inked a three-year 20 GWh long-duration energy storage strategic framework agreement, CORNEX signed 12 GWh, and Saiwei Digital Energy and EVE Energy reached a 10 GWh integrated storage cooperation deal. The exhibition demonstrated a clear industry shift toward large-format cells (314 Ah, 588 Ah, 1175 Ah), accelerated deployment of long-duration energy storage, and PV-plus-storage integrated solutions as the mainstream development trend.
China's Power Grid to Receive Record 5 Trillion Yuan Investment During 15th Five-Year Plan
According to China Daily on June 3, China will invest a record 5 trillion yuan (approximately US$722 billion) in its power grid during the 15th Five-Year Plan period (2026-2030), nearly doubling the 2.64 trillion yuan spent during the 13th Five-Year Plan. State Grid Corporation of China plans to invest 4 trillion yuan, while China Southern Power Grid will invest approximately 1 trillion yuan, with the latter already committing 180 billion yuan in 2026 alone. Investment priorities include ultra-high-voltage cross-regional transmission corridors, digital upgrades to distribution networks and microgrids, integration infrastructure for 900 GW of distributed new energy, supporting facilities for over 40 million EV chargers, and pumped hydro and new energy storage systems. The target is for renewable energy to account for 30% of power generation by 2030.
Xinjiang Ruoqiang 2,100 MW Pumped Storage Power Station Achieves Construction Milestone
On June 8, the Xinjiang Ruoqiang Pumped Storage Power Station in southern Xinjiang completed first-layer rock mass excavation of its tail gate chamber, marking a new phase in core cavern construction. The station has a total installed capacity of 2,100 MW and a design annual generation of 2.625 billion kWh. The first unit is scheduled for grid connection in September 2030, with full operation targeted for December 2031. First-floor excavation of the main and subsidiary powerhouses has been completed, the water supply tunnel has advanced to 1,800 metres, and construction of both upper and lower reservoir dams is underway. Once operational, the station will save approximately 1.345 million tonnes of standard coal and reduce CO₂ emissions by 4.046 million tonnes annually, providing critical peak-shaving and energy storage services to the southern Xinjiang power grid.
China Energy Engineering Launches 20 GW PV Inverter Centralized Procurement Tender for 2026
On June 5, China Energy Engineering Corporation (CEEC) issued its 2026 centralized procurement tender for photovoltaic inverters, with an estimated procurement volume of 20 GW divided into eight bid lots covering both central and string inverter types. This is one of the largest inverter procurement tenders in China this year, reflecting the accelerated pace at which central state-owned enterprises are expanding their new energy asset portfolios at the start of the 15th Five-Year Plan period. Major inverter manufacturers including Huawei, Sungrow, and Sineng Electric are expected to compete aggressively for shares in this procurement.
Hami 1.5 GW PV-CSP Integrated Energy Base Approaches Commissioning
The 1.5 GW PV-CSP integrated energy base in Hami, Xinjiang, developed by CEEC with a total investment of 6.5 billion yuan, spans approximately 33 square kilometres in Santanghu Town, Barkol County. The project features 1,350 MW of solar PV and a 150 MW molten-salt tower concentrated solar power unit with a 219-metre tower. Leveraging thermal storage, the CSP component enables round-the-clock generation, with PV supplying daytime power and CSP providing nighttime balancing, for an estimated annual output of approximately 2.9 TWh. Grid connection is targeted for June 2026 with full-capacity commissioning planned for October 2026, at which point it will be the world's largest single-phase PV-CSP facility.
Saudi Energy Commissions World's Largest 2.5 GW Grid-Forming BESS Project
On June 4, Saudi Energy (formerly Saudi Electricity Company) announced the commissioning of its Phase III Energy Storage Program, with a total installed capacity of 2.5 GW, making it the world's largest grid-side grid-forming battery energy storage system. The project was delivered by Alfanar Company as EPC contractor with BYD Energy Storage supplying the battery cells and systems. It is deployed across five strategic locations — Riyadh, Rabigh, Dawadmi, Al Jouf, and Qassim — and integrates advanced grid-forming functions including frequency regulation, black-start capability, and weak-grid support. The project is a key component of Saudi Arabia's Vision 2030 energy transformation and sets a new global benchmark for large-scale grid-side energy storage deployment.
European Commission Approves €23 Billion Italian State Aid Scheme for 37 GW Renewable Buildout
On June 8, the European Commission approved a €23 billion Italian state aid scheme to support the deployment of more than 37.15 GW of new renewable electricity capacity. The scheme covers solar PV, onshore wind, hydropower, and other renewable technologies through a competitive bidding mechanism based on two-way contracts for difference. This represents one of the largest single renewable energy state aid approvals in EU history and is a core pillar of Italy's strategy to accelerate its clean energy transition under the EU Clean Industrial Deal framework.
Fidra Energy Acquires 1 GW Enderby Battery Storage Project in UK
On June 3, European battery energy storage developer Fidra Energy, headquartered in Edinburgh and backed by EIG and the UK National Wealth Fund, announced the acquisition of the 1,025 MW Enderby BESS project in Leicestershire from Innova, bringing its total UK BESS pipeline to over 4 GW. Following a successful capital raise in 2025, Fidra has already commenced construction at its Thorpe Marsh site. This acquisition further consolidates Fidra's leading position in the UK grid-scale energy storage market.
Inox Clean Energy Acquires Vena Energy India's 6 GW Renewable Portfolio for INR 60 Billion
On June 4, India's Inox Clean Energy signed an agreement to acquire 100% of Vena Energy India for approximately INR 60 billion (around US$720 million), gaining a total renewable energy portfolio of approximately 6 GW. The portfolio comprises 1 GW of operating assets, a 4.4 GW development pipeline, and 2.5 GWh of energy storage assets spanning solar PV and wind. Following the transaction, Inox Clean Energy will become one of the most diversified renewable energy platforms in India, aligned with the country's target of 500 GW of non-fossil-fuel capacity by 2030.
Malaysia Mandates Battery Storage for All LSS6 Solar Projects
On June 3, the Malaysian government announced that all future solar power projects under its sixth Large Scale Solar (LSS6) programme will be required to include battery energy storage systems. The policy shift aims to address grid stability challenges arising from high solar PV penetration and marks a transition from capacity-driven solar deployment to coordinated solar-plus-storage development. The mandate is expected to catalyze the formation of Malaysia's first large-scale grid-side energy storage market and attract storage supply chain investments across Southeast Asia.
Serbia Launches International Partner Search for 2,400 MW Đerdap 3 Pumped-Storage Project
On June 5, the U.S. Embassy in Belgrade published a call for expressions of interest to identify international strategic partners for Serbia's Đerdap 3 pumped-storage hydropower project. Located on the Danube River near Golubac, the project is planned for 2,400 MW of pumped-storage capacity, plus a potential 400 MW of additional wind and solar, with an estimated investment of approximately €2.6 billion and a target completion date of 2038. U.S. engineering group Bechtel has expressed interest since 2021 and completed technical studies. However, the project faces challenges including Romanian concerns over downstream impacts on the jointly managed Đerdap 1 and 2 plants and environmental issues related to Đerdap National Park.
ACWA Power Signs 500 MW Solar-Plus-Storage Land Lease in Philippines
On June 6, ACWA Power Philippines signed a land lease agreement for a 500-hectare site in New Clark City to develop a 500 MW solar-plus-storage project, which will supply clean and stable power to the Luzon grid. The Philippines is targeting 35% renewable energy in its power mix by 2030, and ACWA Power has been accelerating its solar-plus-storage deployment across Southeast Asia. This project continues the rapid growth trend of integrated PV-storage developments in the Philippines.
Ib Vogt Secures €62.8 Million Financing for 99 MW Solar-BESS Project in Philippines
On June 4, Ib Vogt APAC secured €62.8 million in debt financing for a 99 MW solar PV project paired with battery energy storage in the Philippines. The project will increase the country's renewable energy capacity while enhancing grid flexibility and peak power supply capabilities. The deal underscores the growing investor appetite for integrated solar-plus-storage assets in the Southeast Asian market.
R.Power Secures €46 Million for 127 MW/254 MWh Standalone BESS in Romania
On June 4, Polish renewable energy developer R.Power secured a €46 million financing package for a 127 MW / 254 MWh standalone battery energy storage project in Romania. The project will provide critical grid flexibility and frequency regulation services in Romania's rapidly expanding renewable energy market, representing one of the largest standalone BESS financing deals in Central and Eastern Europe in recent months.
Revolve Renewable Power Acquires 125 MW US Solar Development Portfolio
On June 8, Canada-based Revolve Renewable Power Corp. announced the acquisition of a 125 MW portfolio of utility-scale solar development projects across three U.S. states — Illinois, New Mexico, and Wisconsin — comprising three projects at varying stages of development. The acquisition significantly expands Revolve's U.S. development pipeline and aligns with the continued expansion of the U.S. utility-scale solar market.
NTPC REL Issues India's Largest Pumped Hydro Storage Service Tender at 2,000 MW/12,000 MWh
On May 29, closely preceding the reporting week, NTPC Renewable Energy Limited issued India's largest-ever pumped hydro storage service tender with a total capacity of 2,000 MW / 12,000 MWh and a requirement of six hours of continuous discharge. Under a storage-as-a-service model, developers will build, own, operate, and maintain the assets while NTPC REL supplies charging power from its wind and solar portfolio and pays an annual fixed charge over a 25-year service agreement. The bid submission deadline is July 21, with commissioning required within 48 months of award. The tender represents a critical step in India's strategy to support round-the-clock renewable energy supply through long-duration storage.