Pumped storage has now entered the accelerated construction phase, with more than 200 pumped storage projects scheduled to enter the construction preparation period in 2022. Recently, according to the news, South Grid energy storage planned to invest in the construction of Huizhou Zhongdong pumped storage power station project, the total investment of the project is about 8.373 billion yuan, the planned installed capacity of 1.2 million kW. Project by the company is a wholly owned subsidiary of southern power grid load frequency control power generation co., LTD and CGNPC electric sales co., LTD, a joint venture of the hole in the huizhou pumped storage power generation co., LTD., is responsible for the construction, hole in huizhou pumped storage power generation co., LTD., registered capital of 1.6 billion yuan, southern power grid load frequency control power generation co., LTD. Invested 1.12 billion yuan, accounting for 70%; CGN Power Sales Co., Ltd. contributed 480 million yuan, accounting for 30 percent of the equity.

The third quarter financial report of Nanwang Energy Storage showed that the revenue of the first three quarters of 2022 was about 6.392 billion yuan, an increase of 5.66% year on year; Net profit attributable to its parent was about 1.318 billion yuan, up 33.17% year on year. During the report period, the inflow situation of peak-regulating hydropower plants in western China, such as Tianyi Power Station and Lubuge Power Station, was good, and the electricity sold increased by 42.37% year on year. Plum storage, Yang storage this year all put into production. The company currently has 16 pumped storage power stations under construction or carrying out preliminary work with a total installed capacity of 18.6 million kW, and 3 new energy storage power stations with a total installed capacity of 375,000 kW. Editor/Xu Shengpeng