BYD Europe, a division of Chinese tech giant BYD Company, and German wholesaler Fenecon have signed an agreement through 2014 for 1,000 Distributed Energy Storage Systems (DESS).
The deal, made at the recent Intersolar Europe trade show in Munich, continues a development and distribution partnership between the two companies that spans more than two years.
Fenecon will offer the storage systems to PV installation companies.
"While most storage system manufacturers are still relying on simple balancing meter systems or charge extensive prices for technically advanced concepts, BYD is leading the market in technology as well as in total costs per kWh," said Fenecon CEO Franz-Josef Feilmeier.
"Seeing that the market increasingly asks for ‘intelligent storage systems’ instead of plain PV-batteries leaves us confident to win many more installation partners. With BYD as our partner we are well prepared to fulfill the customers requirements."
Germanys state-owned development bank KfW began providing subsidies for small photovoltaic storage systems in Germany in May support that could benefit Fenecon and BYDs new partnership.
The KfWs subsidy program favors long-life and smart DC systems with lithium batteries and the companies therefore see Germany as "the future core-market for sales" for BYDs DESS-series systems.
BYD and Fenecon have already partnered on the development of their three-phase storage system as well as new hybrid-systems, which the companies presented for the first time at this years Intersolar Europe.
The Shenzhen-based BYD, which specializes in IT, automobile and new energy, has some 180,000 employees worldwide and annual revenues of approximately $8 billion (6.1 billion).
Headquartered in Deggendorf, Bavaria, Fenecon handles energy storage systems, solar modules and LED-lighting. The company also operates a sales office in Senegal.