New energy storage drives over 100 billion yuan investment
According to the data of the National Energy Administration, from the perspective of investment scale, since the "14th Five-Year Plan", the new new energy storage capacity has directly promoted economic investment of more than 100 billion yuan, driven the further expansion of the upstream and downstream of the industrial chain, and become a "new driving force" for China's economic development. [pdf]
Abkhazia 350MW Compressed Air Energy Storage Project
Jointly invested and built by China Energy Engineering Group Co., Ltd. and Tai'an-based Taian Taishan New Energy Development Co., Ltd., the project has an investment of 2.23 billion yuan in the first phase, which includes construction of a 350-MW/1.4 million kWh generator unit based on the 325-degree Celsius low-melting point molten salt high-temperature thermal insulation compression technology. [pdf]
Vietnam safe energy storage project
This project, developed by Vietnam Electricity (EVN) in collaboration with the Asian Development Bank (ADB), Rocky Mountain Institute (RMI), Global Energy Alliance for People and Planet (GEAPP), and the Vietnam Energy Institute, marks a crucial step towards Vietnam’s target of developing 300MW of energy storage by 2030, as outlined in the latest Eighth Power Development Plan (PDP 8). [pdf]
Companies investing in energy storage power
Significant players active in energy storage projects include: (1) Tesla, a leader in battery technology, invests significantly in storage solutions, (2) Siemens, focusing on large-scale grid storage systems, (3) NextEra Energy, which allocates resources to renewable energy storage, and (4) LG Chem, enhancing lithium-ion battery production aimed at various applications. [pdf]
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