Sungrow’s fundraising plans for 18 GWh ESS and 30 GW inverter factories

Chinese inverter and energy storage giant Sungrow has submitted a draft prospectus to the Hong Kong Stock Exchange. While the document does not disclose the details, it outlines that the company intends to use the proceeds to construct a next-generation R&D center for PV and storage products, as well as to invest in digitalization and intelligent manufacturing. The plan also includes establishing several overseas production bases with a combined manufacturing capacity of 18 GWh of energy storage systems and 30 GW of inverters.

While details of the overseas factories were not specified in the filing, Sungrow’s Chairman, Cao Renxian, mentioned in a meeting with Egyptian President Abdel Fattah el-Sisi in September that the company plans to build a 10 GWh energy storage cell factory in Egypt.

As of June 30, 2025, Sungrow’s manufacturing capacity stood at 169 GW of inverters (119 GW in China, 50 GW overseas) and 28 GWh of energy storage systems in total.

Sungrow reported 40.34% YoY growth in its operating income for H1 2025 (see Sungrow Power Posts Over 40% YoY Revenue Growth in H1 2025).