China Power Construction Corporation (referred to as "PowerChina") has successfully won the bid for a pumped storage power station project with a total investment of up to 4.9 billion yuan. This is another major breakthrough for the company in the field of new energy storage, marking a solid step forward in serving the national "dual carbon" strategy and building a new type of power system.

Pumped storage, as the most mature and cost-effective large-scale energy storage method currently available, is known as the "stabilizer" and "power bank" of the power grid. The construction of this project will effectively enhance the regional power grid's ability to absorb fluctuating new energy sources such as wind power and photovoltaics, strengthen the grid's peak shaving and valley filling capabilities, and emergency backup capabilities, ensuring the safe and stable operation of the power system.

This bid is an important achievement won by China Electric Power Construction with its profound technical accumulation and full industry chain advantages in the field of hydropower engineering. The implementation of the project will not only bring opportunities for green electricity and economic development to the local area, but also inject strong momentum into China's energy structure transformation and the construction of a new power system, helping to achieve carbon peak and carbon neutrality goals.

The successful implementation of the project will also bring significant economic benefits and industry demonstration effects to China Electric Power Construction. During the construction phase, the project will directly create a large number of job opportunities and drive the development of local building materials, logistics and other related industries, forming a virtuous cycle of "investment construction consumption". After completion and operation, the power station will serve as a stable and high-quality asset, contributing sustained cash flow to the company by participating in electricity market transactions and providing auxiliary services.

More importantly, this project is a crucial step for China Power Construction to implement the "water, energy, city, sand" strategy and deeply layout the new energy storage field. With rich experience and strong investment and financing capabilities in the field of pumped storage, China Power Construction is actively expanding its business boundaries, transforming from a traditional engineering contractor to a comprehensive energy service provider that integrates investment, construction, and operation. This successful case will further consolidate its leading position in the global pumped storage market, lay a solid foundation for it to explore more similar projects at home and abroad, and continue to activate the huge potential of China's energy storage industry.Editor/Bian Wenjun