Industry Update: Launch of Jiangsu’s Largest Industrial Park-Level Microgrid Project
On March 26, Jiangsu province inaugurated its largest industrial park-level microgrid project at the Changzhou Wujin National High-Tech Industrial Development Zone Innovation Industrial Park. This project is a collaboration between Changzhou Binhu Construction and Development Group Co., Ltd. and Changzhou Power Supply Company. It features 1,610 kW of distributed photovoltaic power and 6,035 kW/10,660 kWh of energy storage, providing stable and reliable green energy to the buildings, factories, and electric vehicles within the park.
1. Energy Storage Policy Updates: On March 24, Anhui released draft regulations for its electricity spot market, allowing independent energy storage and virtual power plants to participate in the market. Participants can opt for “volume bidding” or “self-scheduling” for market engagement.
2. Company News: Tianqi Lithium Industries announced a net loss of 7.9 billion yuan for 2024, a significant decline from the previous year. In another development, Xingyuan Energy Investment began construction on 12 commercial energy storage projects in Sichuan, totaling 33 MWh of investment.
3. Technological Innovations: China Three Gorges New Energy applied for a patent regarding a new energy storage control method for wind power grids, which aims to enhance the utilization rate of energy storage devices. Additionally, Shanghai Electric Distributed Energy Technology filed a patent for a method that enables energy storage stations to participate in grid power control.
4. Project Progress: The full-scale installation phase has begun for the 300 MW Compressed Air Energy Storage Project in Jiuquan, Gansu. Meanwhile, the 50 MW/200 MWh Zhongbaoyuan all-vanadium redox flow energy storage project has been successfully launched in the photovoltaic base in Shandan County, providing a new source of stability for the grid.
5. International News: TotalEnergies has announced a €160 million investment in six energy storage projects in Germany, set to add 221 MW of storage capacity by 2026. In the United States, a research team from Penn State is exploring the potential of transforming abandoned oil and gas wells into geothermal-assisted compressed air energy storage systems to enhance efficiency while addressing environmental concerns.
