What Sieyuan Electric does

Sieyuan Electric Co., Ltd. (SZSE:002028), founded in 1993 and headquartered in Shanghai, is a Chinese power equipment manufacturer with approximately 11,077 employees and 2025 turnover of $4.24 billion USD. The company designs, manufactures, and sells high-voltage transmission and distribution equipment (transformers up to 750kV leveraging Toshiba-licensed technology, GIS switchgear, circuit breakers, instrument transformers, bushings, capacitors, and substations), utility-scale grid-forming battery energy storage systems (notably the esGrid 3.0 BESS with 6,311 MWh per 20-foot container capacity and 90% round-trip efficiency), STATCOM and E-STATCOM reactive power compensation devices, HVDC circuit breakers, and automotive low-voltage Li-ion and ultracapacitor modules. Its core technology platform is grid-forming power electronics using virtual synchronous generator (VSG) control algorithms to address voltage and frequency instability in high-renewable penetration grids.

Sieyuan operates through direct enterprise sales to utilities, renewable energy developers, EPC contractors, and industrial customers, with 81% of FY2025 revenue generated in China and the remainder distributed across more than 100 countries. Revenue is hardware-centric under custom multi-year enterprise contracts rather than subscription or recurring pricing; the company also earns engineering, installation, commissioning, and after-sales service revenue on global power infrastructure projects. Its customer base includes Singapore Power Group (230kV GIS), ENEL Italy (instrument transformers), NEOM Saudi Arabia (STATCOM and PV integration), Alive Capital Romania (2.5 GWh storage deployment), and U.S. data center operators (230kV Dead Tank Circuit Breakers). The company maintains wholly-owned subsidiaries including Jiangsu Rugao High Voltage Electric Apparatus, Jiangsu Sieyuan Hertz Instrument Transformer, Shanghai Sieyuan Power Capacitor, the Swatten residential/commercial energy storage brand, GMCC supercapacitors, and the Timi automotive electrical systems brand. Sieyuan achieved BloombergNEF Tier 1 Energy Storage Manufacturer status in Q4 2025, deepened its strategic CATL partnership with a 50 GWh three-year MOU in December 2025, and announced a planned Hong Kong secondary listing to broaden international capital access.

Name

Sieyuan Electric

Legal name

Sieyuan Electric Co., Ltd.

Website

https://en.sieyuan.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sieyuan Electric is a Chinese power equipment manufacturer (founded 1993, SZSE:002028, ~$4.24B FY2025 revenue) producing grid-forming battery energy storage systems, STATCOM/E-STATCOM reactive power devices, high-voltage transformers and switchgear, and HVDC circuit breakers for utilities, renewable developers, EPC contractors, and industrial customers across 100+ countries.

Ownership category

akta.pro rank

Product category

Power Transmission and Distribution Equipment

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Electrical Equipment Manufacturing (33531), Electrical Equipment Manufacturing (3353), Battery Manufacturing (33591), Relay and Industrial Control Manufacturing (335314)

SIC

Electrical Industrial Apparatus (3620), Power, Distribution & Specialty Transformers (3612), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electronic Coils, Transformers & Other Inductors (3677)

akta.pro primary industry

Renewable Power Electronics & Advanced Inverters R&D (SiC/GaN, Grid-Forming, HVDC Converter Tech) (EUAMAOAF)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ), Switching Stations & Reactive Power Facilities (Capacitor Banks, SVC/STATCOM) (IMAFAHAH), Power Modules (IGBT/MOSFET/SiC/GaN Modules) (HDAHAHAH), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF)

Keywords

• Power transmission equipment
• High voltage switchgear
• Battery energy storage
• Grid-forming technology
• Power transformer manufacturing

Headquarters

HQ city

Minhang

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Power Transmission and Distribution Equipment: Design, manufacturing, and sale of high-voltage power equipment including transformers, switchgear, circuit breakers, instrument transformers, bushings, capacitors, and substations. Revenue split of 81% from China market, with growing international sales.
2. Energy Storage Systems and Solutions: Utility-scale battery energy storage systems (BESS), residential ESS brands (Swatten), supercapacitors, and grid-forming storage solutions for renewable integration and grid stability applications.
3. Automotive Electronics and Electrical Systems: Low-voltage Li-ion batteries for electric vehicles (12V, 48V systems), automotive ultracapacitor modules, and intelligent power distribution systems for automotive applications.
4. Engineering and Technical Services: Professional engineering services, project deployment, installation, commissioning, and after-sales support for power infrastructure projects globally.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Sieyuan Electric designs, manufactures, and sells high-voltage power transmission and distribution equipment, grid-forming battery energy storage systems, STATCOM/E-STATCOM reactive power compensation devices, HVDC circuit breakers, and power transformers (oil-immersed and gas-insulated) for utilities, renewable energy developers, and industrial customers. The company also provides residential/commercial energy storage under its Swatten brand and automotive low-voltage Li-ion batteries and ultracapacitor modules under its Timi brand.

Product overview

Sieyuan Electric is a global power equipment manufacturer offering integrated solutions across four main categories: Transmission and Transformation, Distribution and Utilization, Energy Storage, and Automotive Electronics and Electrical Systems. The portfolio centers on grid-forming technology as a core differentiator, with products including the esGrid 3.0 BESS (utility-scale battery energy storage), STATCOM and E-STATCOM (grid-forming reactive power compensation), HVDC Circuit Breakers, and comprehensive power transformer solutions (oil-immersed up to 750kV and gas-insulated). The company operates sub-brands including Swatten for residential/commercial energy storage, and offers intelligent operation systems like Super5800 for renewable energy plant management. Products are designed for utilities, renewable energy developers, and industrial customers across power generation, transmission, distribution, and storage applications.

Differentiator

Problem solved

Functional benefit

Brands

• Swatten: Specialized brand under Sieyuan Electric focused on residential and commercial energy storage solutions, including high-voltage battery systems and stackable batteries.
• GMCC
• SECH
• Timi

Products and services

• esGrid 3.0 Battery Energy Storage System Next-generation grid-forming battery energy storage system (BESS) delivering 6,311 MWh capacity in a standard 20-foot container with 148 kWh/m³ energy density and 90% round-trip efficiency. Designed for utility-scale grid stability and renewable energy integration.
• STATCOM (Static Synchronous Compensator) Grid-forming reactive power compensation system based on cascaded H-bridge (CHB) topology with enhanced overcurrent capability and advanced grid-forming control technology. Offers superior response speed and wider operating range than traditional VAR compensation systems.
• E-STATCOM (Static Synchronous Condenser) Grid-forming static synchronous condenser based on MMC topology with supercapacitors on DC side. Provides reactive power support, inertia support, transient voltage stabilization, frequency stability, and wide-band oscillation damping for high-renewable penetration grids.
• HVDC Circuit Breaker High-voltage DC circuit breaker based on artificial intelligence zero-crossing converter technology. Breaking current at 25kA, fault current breaking time less than 3ms for ±10.7/±160/535kV systems, low circuit resistance, no water cooling required.
• LW58A Dead Tank Circuit Breaker Series Dead tank circuit breaker series designed for the North American market. Meets ANSI, IEEE, and NEMA standards with voltage ranges from 38kV to 550kV, lead times as short as four months, and projected service life exceeding 30 years.
• Oil-Immersed Power Transformer Power transformer designed and manufactured with Toshiba's core technology, covering voltage ratings up to 750kV and capacity up to 1000MVA. Features low losses, low noise, minimal partial discharge, and high short-circuit impedance for diverse installation environments.
• Gas Insulated Power Transformer Gas-insulated transformer utilizing inert gas as insulating medium. Features compact structure and fireproof/explosion-proof characteristics suitable for space-constrained installations like urban substations. Voltage levels of 110kV and 220kV with capacity up to 80MVA.
• Gas Insulated Switchgear (GIS) High-voltage switchgear equipment for power transmission and distribution. Deployed in projects including 230kV GIS at Singapore's Upper Jurong Substation and 550kV GIS for hydropower projects. Supports grid modernization programs globally.
• Swatten Residential and Commercial Energy Storage Specialized brand offering residential and commercial energy storage solutions including high-voltage battery systems (13.99 kWh), stackable battery series scalable to 204 kWh, hybrid inverters, and all-in-one PV-storage-charging systems. Focused on the African market.
• Intelligent Power Distribution Unit Power distribution unit using semiconductor chips to replace fuses and relays. Reduces volume by ~15% and weight by ~20% versus plug-in fuse boxes. Features programmable control, networkable architecture, and protection response under 150μs.
• DC Switch-disconnectors and Fuse-combination Units (SYH62 Series) SYH62 Series DC switch-disconnectors suitable for DC systems with rated operating voltage up to DC1500V and current up to 4000A. Provides main circuit connection, breaking, isolation, and protection functions for energy storage, photovoltaics, and DC distribution applications.
• DC Molded Case Switch-disconnectors (SYM6GZ Series) SYM6GZ series DC molded case switch for DC systems rated up to DC1500V and 250A. Provides main circuit connection, breaking, and isolation for electrochemical energy storage, large-scale photovoltaics, DC data centers, and DC distribution.
• Super5800 PV/Wind Power Plant Intelligent Operation System Intelligent operation and maintenance system for onshore 35kV and above new energy stations. Builds a new energy management system based on machine substitution and intelligent analysis. Supports unmanned duty and centralized operation and maintenance mode.
• High-power Lithium Ion Cells High-power lithium ion battery cells including NCM-23Ah (50C pulse discharge, 30C continuous discharge), LFP-13Ah, and 16Ah ultra-long variants. Designed for energy storage applications requiring high power density and extended cycle life.

Quantifiable outcome

• Energy storage capacity of 6,311 MWh in standard 20-foot container with industry-leading 148 kWh/m³ energy density
• +6 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Five partnerships are on record, tiered internal, major and core.

• Swatten (Sieyuan Subsidiary Brand)internalOthers · 17 June 2026Swatten is a specialized brand under Sieyuan Electric focused on residential and commercial energy storage solutions for the African market. It offers hybrid inverters, high-voltage battery systems (13.99 kWh), stackable battery series scalable to 204 kWh, and all-in-one PV-storage-charging systems. Swatten is expanding through local partnerships, technical training, and after-sales support across Africa.
• Alive CapitalmajorStrategic or Co-development Partner · 18 March 2026Alive Capital, a green energy supplier and integrated services platform for renewable energy producers, signed a collaboration agreement with Sieyuan Electric for deployment of up to 2.5 GWh of battery energy storage systems in Southeastern Europe over four years. The partnership covers standalone and co-located storage configurations across multiple power classes, serving Alive Capital's own investments, affiliated companies, and client projects. Projects comply with European standards. Sieyuan secured over 4.5 GWh of energy storage agreements in Romania in total.
• CATL (Contemporary Amperex Technology)coreStrategic or Co-development Partner · 25 December 2025Sieyuan Electric and CATL signed a three-year MOU (December 2025) targeting cumulative BESS deployment of 50 GWh. The partnership implements a market-oriented dual-sourcing procurement model and intensifies coordination across the energy storage value chain from systems to transmission and distribution equipment. This agreement deepens cooperation from their initial 2022 partnership and supports China's dual-carbon goals and modern energy system build-out. Witnessed by Dong Zengping, chairman of Sieyuan Electric, and Robin Zeng, chairman and CEO of CATL.
• CATLcoreStrategic or Co-development Partner · 25 December 2025Strategic deepening of 2022 partnership. CATL provides battery supply for Sieyuan's energy storage systems, enabling the company's BESS deployment at scale. The partnership includes a market-oriented dual-sourcing procurement model.
• ToshibacoreTechnology or IntegrationSieyuan has fully introduced Toshiba's transformer technology, adopting Toshiba's design standards, work specifications, operating instructions, procurement specifications, and testing inspection criteria. Changzhou Sieyuan Toshiba Transformer Co., Ltd. (CST) was founded in June 2018 for production of various special transformers leveraging Toshiba's century-old international brand and technology.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• ABB: ABB's electrification business spans switchgear, transformers, drives and grid automation. It overlaps with Sieyuan's portfolio in high-voltage equipment and grid integration, and is a key incumbent competitor in international utility tenders.
• Siemens Energy: Siemens Energy provides a broad portfolio across power generation, transmission (HVDC, transformers, switchgear) and grid software. It competes with Sieyuan in high-voltage equipment, STATCOM and grid-stability solutions, with stronger brand equity in EMEA and the Americas.
• Hitachi Energy: Hitachi Energy is a global leader in grid solutions, offering transformers, HVDC, STATCOM, switchgear and grid-integration software. It is the closest direct large-scale peer to Sieyuan across the T&D and grid-forming equipment stack, though with deeper utility incumbency in Europe and the Americas.
• Eaton: Eaton provides electrical components, power distribution, UPS and industrial control. It competes with Sieyuan's lower-voltage switchgear, DC switch-disconnectors and intelligent power distribution, particularly in data center and industrial customers.
• GE Vernova: GE Vernova's Grid Solutions business competes with Sieyuan in HVDC, FACTS/STATCOM, transformers and high-voltage equipment. It is a relevant incumbent in grid-stability hardware, especially in North America and the Middle East where Sieyuan is expanding.
• Schneider Electric: Schneider Electric offers power distribution, medium-voltage switchgear, transformers and energy management software. It is a global incumbent competing with Sieyuan in distribution/utilization products and increasingly in grid-edge and data-center power infrastructure.

Emerging players

• Huawei Digital Power: Huawei Digital Power provides smart PV and energy storage solutions, including utility-scale BESS and grid-forming inverters. It is an emerging Chinese-headquartered competitor in the international energy storage market where Sieyuan is expanding.

Direct peers

• TBEA: TBEA is a leading Chinese transformer and power equipment manufacturer with overlapping products across power transformers, switchgear, cables and renewable EPC. It is the closest Chinese-headquartered direct peer to Sieyuan, particularly in transformer and grid equipment exports.
• Fluence Energy: Fluence is a global utility-scale battery energy storage system integrator and Tier 1 BNEF storage supplier. It directly competes with Sieyuan in grid-scale BESS projects in North America, Europe and Australia, including grid-forming storage offerings.
• Sungrow Power Supply: Sungrow is a leading global inverter and energy storage systems provider headquartered in China. It directly competes with Sieyuan's esGrid BESS and grid-forming offerings in utility-scale storage, while also being a fellow Chinese power-electronics exporter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sieyuan_group
• YouTubeyoutube.com/watch?v=K13QHPO_gO8
• Facebookfacebook.com/SieyuanElectric
• LinkedInlinkedin.com/company/sieyuan

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sieyuan Electric