As the "national team" of state-owned enterprises in the energy and power sector, China Power Construction Corporation recently disclosed its 2025 business performance report: from January to November, the total amount of new contracts signed by the company exceeded one trillion yuan, among which the performance of the new energy storage business was particularly outstanding. It signed 180 new projects with a contract amount of 500.03 billion yuan, occupying 7 seats in major projects of more than 500 million yuan, leading the high-quality development of the energy storage industry with hard core strength, and injecting central enterprise momentum into the implementation of the national "dual carbon" goal.

Energy storage becomes the core engine of growth

The announcement shows that from January to November 2025, China Electric Power Construction has signed a total of 7382 new projects with a total contract amount of 1031.755 billion yuan. In the core business sector of energy and power, the newly signed contract amount reached 659.059 billion yuan, a year-on-year increase of 2.39%. Among them, hydropower and wind power businesses achieved high-speed growth of 30.39% and 25.56% respectively, while the explosive growth of new energy storage business became the biggest highlight.

The newly signed energy storage orders worth 500.03 billion yuan demonstrate the high recognition of the market for China Power Construction's technological strength and service capabilities. Relying on the integrated model of "investment and financing+EPC+O&M", the company deeply participates in the full life cycle service of energy storage projects, from Guangdong 100MW/200MWh electrochemical energy storage power station to Qinghai integrated photovoltaic energy storage project, from shared energy storage projects in high-altitude areas of Inner Mongolia to salt cavern compressed air energy storage demonstration projects. The projects cover multiple technological routes such as electrochemistry, compressed air, and photovoltaic energy storage integration, and are suitable for various scenarios such as grid side peak shaving, new energy consumption, and extreme environmental applications.

Building a competitive advantage across the entire industry chain

As a super large central enterprise managed by the State owned Assets Supervision and Administration Commission of the State Council, since taking the lead in establishing the New Energy Storage Research Center in 2024, China Power Construction has continuously integrated industry university research resources, focused on large-scale and long-term energy storage technology research, and broken through multiple technological bottlenecks in compressed air energy storage, electrochemical energy storage and other fields. Its independently developed sediment pore salt cavern compressed air energy storage technology has a system electric to electric conversion efficiency of 70%, and an iron-based liquid flow battery stack conversion efficiency of up to 85%. The related demonstration projects have been successfully selected for the national green and low-carbon advanced technology demonstration project list.

In the traditional advantage field of pumped storage, China Electric Power Construction occupies 90% of the domestic survey and design market and 78% of the construction share, leading more than 50% of the world's large and medium-sized water conservancy and hydropower projects, laying a solid technical and engineering foundation for the development of energy storage business. At present, the company has established a full industry chain service system from technology research and development, planning and design, equipment manufacturing to engineering construction, operation and maintenance, and has participated in over 200 domestic and foreign energy storage projects with a total scale exceeding 5GWh.

Anchor War New Business Development Goals

Faced with the industry trend of transforming the new energy storage industry from "policy driven" to "market-oriented", China Electric Power Construction Corporation has included the energy storage business in the core category of strategic emerging industries, and is working together with new energy and digital businesses. The company clearly regards energy storage as a key driving force for high-quality development, accelerating the layout of diversified tracks such as electrochemical energy storage, hydrogen energy storage, and pumped storage. The goal is to achieve a revenue contribution of over 40% and an investment proportion of nearly 50% in the new business by 2025.

While steadily expanding in the domestic market, China Power Construction's overseas business has shown strong performance, with a newly signed overseas contract amount of 231.639 billion yuan from January to November, a year-on-year increase of 23.15%. In the future, the company will rely on the experience of global energy infrastructure construction to promote the domestic mature energy storage technology and model to the international market. While serving the "the Belt and Road" energy cooperation, it will help the global energy green and low-carbon transformation, and write a new chapter of high-quality development of the energy storage industry with the role of central enterprises.Editor/Bian Wenjun