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Wenzhou enterprises play active role in new energy industry

ALMS|Updated: August 30, 2022


A floating carbon neutral headquarters project for wind power generated in the deep waters and high seas of Wenzhou. [Photo/]

With new energy gaining momentum in recent years, enterprises in Wenzhou, East China's Zhejiang province, are actively enlarging their presence in the industry, local media outlets reported.

As a coastal city, Wenzhou has rich wind, solar and energy-efficient resources, thus making the three fields its focus in developing its new energy industry.

Statistics show that in 2021, Wenzhou's new energy enterprises above a designated size generated a total output value of 113 billion yuan ($16.37 billion). From January to July this year, the retail sales of new energy vehicles increased by 155.8 percent year on year, increasing sports and entertainment products, cosmetics, and wearable smart device sales by 13.2 percent, 40.2 percent, and 84.2 percent, respectively.

Hongfeng Electrical Alloy Co, a local company focsuing on alloy materials, has benefited from its technological advantages in composite materials and become a supplier of some well-known new energy vehicle battery and circuit protector supporting enterprises.

Traditional manufacturers of pumps, valves and instruments in Wenzhou, by providing key components for new energy equipment, have won a place in the market.

For example, Chint Group's solar and photovoltaic power generation has become an economy of scale, while TTN Power has accelerated the research and development, production, and sale of solar modules, solar inverters, and voltage regulators, and expanded into overseas markets.

Wenzhou's new energy prospects will be even brighter with the introduction of a number of projects with high investment, advanced scientific and technological content, and strong industrial initiative.

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