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Deye Technology Commits 1.23 Billion Yuan to Phase Two Energy Storage Plant

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Ningbo Deye Technology (SHA:605117) subsidiary Deye Energy Storage signed a second-phase investment agreement with Cixi Binhai Economic Development Zone to build a 9-gigawatt-hour commercial and industrial energy storage production line.

Fixed asset investment for the project is at least 1.23 billion yuan, according to a Wednesday filing on the Shanghai bourse.

Completion and production are expected within 30 months of land acquisition and production review within 54 months.

Shares of the solar-plus-storage products manufacturer were down 2% in recent trade.

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