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Investing.com -- LOBO EV Technologies Ltd. (NASDAQ:LOBO) stock rose 4.8% on Wednesday after the company announced a bulk purchase order valued at approximately $1.194 million from Kenyan real estate firm Terrian Town Limited.
The order is for LOBO’s advanced Photovoltaic power storage systems, which will be installed in 80 villas at an estimated cost of $13,900 per household, as well as in portions of business units within Terrian Town’s development in Kajiado, Kenya.
The systems include 10kW photovoltaic arrays paired with 20kWh lithium iron phosphate batteries and are designed to support up to 80% of the power demand for the residential units.
Terrian Town plans to develop its 8.62-hectare site into a green-energy, eco-friendly town that will serve as Kenya’s flagship green model community. LOBO’s solar power storage systems integrate photovoltaic technology with energy management to provide clean power solutions.
This collaboration represents LOBO’s continued expansion into the African renewable energy sector as the company seeks to grow its presence in sustainable infrastructure solutions globally. The developer of electric mobility and smart energy solutions continues to pursue strategic partnerships to expand its offerings in emerging markets.
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