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The trend of Chinese new energy companies expanding overseas is gaining momentum, with lithium battery, wind power, photovoltaic, and hydrogen energy manufacturers increasingly looking beyond their domestic markets.

Envision Group stands out as a representative of China's new energy enterprises in this global push, encompassing three main divisions: Envision Energy, which focuses on wind power, energy storage systems, and green hydrogen; Envision Power, dedicated to battery cells; and Envision Intelligence, which specializes in the development of intelligent IoT operating systems.

Recently, China Power Construction Corporation signed an EPC contract worth approximately $850 million with Suez Wind Energy S.A.E on December 26, 2024. The agreement involves constructing the largest onshore wind power plant in North Africa and the Middle East, located in the Gulf of Suez, Egypt. With a total installed capacity of 1.1 gigawatts, the project will utilize 8-megawatt units produced by Envision Energy.

Envision's overseas expansion is not a new endeavor. According to the company's Zero Carbon Action Report, Envision has secured 70% of China's wind turbine orders abroad for two consecutive years. Since 2014, Envision has been strategically planning for international markets, entering regions such as India, Southeast Asia, and the Middle East.

Zhang Lei, Chairman of Envision Group, recently highlighted the significance of China's new energy sector in global markets. He compared the impact of new energy technology to that of printing and papermaking technologies a thousand years ago, which greatly reduced the cost of acquiring knowledge. Today, new energy technologies are poised to significantly lower the cost of energy acquisition, ushering in a new era of prosperity.

However, expanding into overseas markets is a complex and challenging process. Envision Energy has distilled three key experiences from its international ventures. First, continuous market research is essential to understand customer needs and adjust products and services accordingly. Second, a localized strategy is crucial, involving collaboration with local enterprises to achieve mutual benefits. Lastly, technological innovation and talent cultivation are vital to maintaining competitiveness in the international market.

In July 2024, Envision Group announced a joint venture with Saudi Arabia's Public Investment Fund (PIF) and Vision Industries to establish a wind turbine equipment factory in Saudi Arabia. This move aims to accelerate new energy development in the Middle East.

The establishment of overseas factories offers several advantages, such as proximity to customers, which enhances understanding of their needs and boosts product competitiveness. Additionally, some countries offer tax incentives to attract foreign investment, further reducing operational costs.

Envision Energy emphasizes that technological innovation is the cornerstone of its overseas expansion. The company's engineering designs are capable of withstanding high wind speeds and sandy environments, ensuring stable operation of equipment in extreme climates. This capability is critical for entering markets with harsh weather conditions.

Editor: Gao Han