According to the latest news released by Weifang Binhai New Area, on June 6, Weifang Binhai District officially signed a far-reaching cooperation agreement with two powerful companies - Guangxi Guiguan Electric Power Co., LTD. Shandong Branch and CRRC Zhuzhou Electric Locomotive Research Institute Co., LTD. The signing of this agreement not only marks a major breakthrough in the field of new energy and energy storage technology in Weifang Coastal area, but also indicates the further optimization and upgrading of the energy structure in the region.

Guangxi Guiguan Power Co., LTD. Shandong Branch, as an important part of Guangxi Guiguan Power in the national layout, the planned investment of up to 700 million yuan, in Weifang Binhai District to build two single-unit capacity of 1MW flywheel energy storage equipment and a total capacity of 198MW lithium battery energy storage project. As a new energy storage technology, flywheel energy storage plays an irreplaceable role in the instantaneous frequency modulation experiment of power grid because of its high efficiency and fast response. The lithium battery energy storage project, with its characteristics of large capacity and long life, provides a strong support for long-term peak and voltage regulation of the power grid. The construction of these two projects will greatly improve the stability and reliability of the power grid in Weifang Coastal area, and provide better power services for industrial production and residents' lives in the region.

At the same time, CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. will also actively participate in this cooperation project. As a leading domestic electric locomotive and energy storage system research and development and manufacturing enterprise, CRRC Zhuzhou will support the construction of energy storage system production line project, and plans to build two energy storage system production lines with a maximum annual capacity of 1GWh. The completion of these two production lines will enable Weifang Binhai District to achieve leap-forward development in the field of energy storage system manufacturing from scratch, and will also drive the development of related industrial chains in the region to form a complete industrial system integrating research and development, manufacturing and sales.

It is predicted that when the two projects are all up to date, the annual capacity of the energy storage system in Weifang Coastal area will reach 2GWh, with an annual output value of about 1.2 billion yuan. This will not only bring considerable economic benefits to the Weifang coastal area, but also further promote the innovation and development of new energy and energy storage technologies in the region, laying a solid foundation for building a green, low-carbon and efficient energy system.

The signing of this cooperation agreement is an important measure for Weifang Coastal Area to actively respond to the national new energy development strategy and promote the high-quality development of regional economy. In the future, Weifang Binhai District will continue to strengthen cooperation with major enterprises, constantly introduce new technologies and new projects, promote the innovation and application of new energy and energy storage technologies, and inject new impetus into the sustainable development of the region. Editor/Xu Shengpeng