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    300274   CNE1000018M7

SUNGROW POWER SUPPLY CO., LTD.

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Sungrow and KarmSolar Cooperate on the Microgrid Bess Project for Cairo 3A Group

01/14/2022 | 03:31am EDT

Sungrow signed a new BESS contract with KarmSolar. Sungrow will provide 2.576MWp PV inverter and 1MW/3.957 MWh energy storage system to build a microgrid for Cairo 3A Poultry Company. This microgrid, by its commission in May, 2022, will generate the energy resources needed by this large-scale company from solar power rather than relying on diesel generator and burning fossil fuels. North Africa boasts enormous potential of solar power uptake with year-round sunshine. Egypt also set the goal of achieving 42% of its electricity from renewable sources by 2035. Sungrow will help build such a microgrid BESS project in Bahariya Oasis. Sungrow offers the 1500V solar plus storage solution: ST3956KWH(L)-1375UD. As all devices are integrated, the system has less units and occupies less land, and in this way, it is more economical and simpler to transport, install and operate. Equipped with EMS, the post maintenance procedure is also streamlined and smart. In addition, being compatible to bifacial solar modules, and adopting higher-power PCS (max. efficiency up to 99%), this system achieves higher yield. As Bahariya Oasis is a depression with agriculture as the main sector, using clean power bears long-term significance for environmental protection and sustainable development.


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Financials
Sales 2022 37 196 M 5 552 M 5 552 M
Net income 2022 3 287 M 491 M 491 M
Net cash 2022 7 523 M 1 123 M 1 123 M
P/E ratio 2022 35,2x
Yield 2022 0,29%
Capitalization 115 B 17 235 M 17 235 M
EV / Sales 2022 2,90x
EV / Sales 2023 2,23x
Nbr of Employees 6 726
Free-Float 18,8%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 77,74 CNY
Average target price 123,94 CNY
Spread / Average Target 59,4%
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Managers and Directors
Ren Xian Cao Chairman, President & General Manager
Guo Jun Li Chief Financial & Accounting Officer
Gao Zhou Tao Chairman-Supervisory Board
Bao Shan Li Independent Director
Ming Fa Li Independent Director