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(Yicai Global) Jan. 4 -- China's Narada Power Source has won a CNY260 million (USD37.8 million) bid to provide a marketing unit of Alibaba Group Holding with energy storage equipment for a data center project.
Narada has received a notice about winning the tender from Tmall Technology, the manufacturer said in a statement yesterday, without disclosing more details about the project. The two Zhejiang province-based parties will sign a contract later.
With the rapid development of internet and data business, the market for building data centers is huge and the demand for backup batteries will boom, the energy firm added.
Narada's stock price [SHE: 300068] rose 0.5 percent to CNY14.2 (USD2.1) as of at 10.26 a.m.
Editor: Emmi Laine