(Yicai Global) July 20 -- Shares in Clou Electronics surged by the exchange-imposed limit today after the Chinese energy equipment developer said it will supply a US customer with a large battery energy storage system, its fourth such overseas order since December last year.

Clou's share price [SHE:002121] closed up 10 percent at CNY9 (USD1.30), the highest since February 2018.

Clou will deliver battery storage systems of at least 450 megawatt-hours and 600 MW of power conversion systems to a well-known US energy storage product provider and system integrator between next year and 2025, the Shenzhen-based company said yesterday, citing an agreement of intent signed between the two parties.

The pair will ink the main supply deal next month to specify delivery dates and other details, it said, without revealing the name of the client nor the contract amount due to the non-disclosure agreement penned by the two sides. Some of the equipment will also go to locations outside North America, it added.

Another well-known energy firm from the Americas, also unnamed, has placed three separate orders for a combined 557 MWh of energy storage equipment in the last eight months that will be part of the largest renewable energy power generation project in South America, Clou said earlier.

To meet the surging demand, Clou will build a 5 gigawatt hour battery energy storage plant in Yichun, eastern Jiangxi province, the firm said yesterday. No mention was made of the investment amount and construction schedule. Clou already has a 3 GWh plant in the city, which is known as ‘Asia’s lithium capital.’

Editor: Kim Taylor