In March 2026, the Zhejiang Provincial Development and Reform Commission officially released the "Implementation Plan for the First Batch of Major Construction Projects in 2026 to Expand Effective Investment in Zhejiang Province". This important document, which can be regarded as an annual investment benchmark, successfully selected 15 pumped storage power station projects, becoming a highly anticipated core force in the clean energy supply guarantee sector. This measure is not only a heavy upgrade for Zhejiang to expand effective investment in the "Thousand Trillion" project, but also a clear demonstration of Zhejiang's firm action as an energy consuming province in building a new power system and steadily promoting the achievement of the "dual carbon" goal.

Intensive implementation of major projects

The Thousand Trillion Project is the core measure for Zhejiang Province to promote effective investment expansion and quality improvement. Since its implementation in 2023, it has always adhered to the rolling promotion mode, coordinating the promotion of more than 1000 provincial-level major projects every year, and the annual planned investment amount has exceeded 1 trillion yuan. The first batch of project list in 2026 covers 1678 major projects, with an annual planned investment scale of 1.1 trillion yuan, and the investment intensity continues to increase.

Building a clean energy regulation network

The 15 pumped storage power station projects included in the first batch of plans have been deployed throughout Zhejiang Province, successfully establishing a clean energy regulation system covering the entire region of northern, central, and southern Zhejiang. In the northern Zhejiang region, led by the Jiande Pumped Storage Power Station with a total investment of over 12.5 billion yuan, this project is the largest pumped storage power station under construction in East China and is planned to achieve full capacity operation and power generation before 2030; In the eastern Zhejiang region, the Tiantai Pumped Storage Power Station has entered a critical period of production, and Unit 2 has successfully completed power generation, striving to achieve the goal of putting all units into operation by August this year; In the southwestern mountainous area of Zhejiang Province, projects such as Songyang, Qingyuan, Jingning, Jinshuitan, and Wuxi River are being simultaneously promoted and deployed in multiple locations, fully transforming the ecological endowment of mountainous areas into energy development advantages and becoming a green development engine to support the construction of common prosperity; In central Zhejiang and coastal areas, projects such as Yongjia, Qingtian, Pan'an, Qujiang, Taishun, Tonglu, Jiangshan, and Kecheng have been gradually implemented and steadily promoted, sparking a wave of clean energy project construction.

Billion dollar investment empowers development

The total investment scale of these 15 pumped storage projects has exceeded 120 billion yuan, with individual project investments ranging from 2.5 billion yuan to 18 billion yuan, with an average investment of 8 billion yuan per project. The project construction will effectively drive the coordinated development of upstream and downstream related industries such as underground engineering construction, large-scale unit production and manufacturing, digital intelligent control, etc. It is expected to create more than 50000 new jobs and inject strong green momentum into the high-quality development of Zhejiang's economy. Keywords: Zhejiang, Thousand Trillion, Pumped Storage

Zhejiang is not only a major economic and energy consuming province, but also the birthplace of the Two Mountains concept. How to balance energy security and green low-carbon transformation is an important issue for regional development. Pumped storage power stations are the key carriers that connect energy security needs with green and low-carbon development. From the successful implementation of the billion dollar syndicated loan for the Jiande Pumped Storage Power Station, to the full-scale production of the Tiantai Power Station units; From the implementation of intelligent filling construction for the Songyang Power Station dam to the completion of bidding and procurement of core equipment for the Qingtian project, these 15 pumped storage projects included in the Thousand Trillion Project are steadily advancing at their respective construction rhythms, jointly composing the march of Zhejiang's energy green transformation.Editor/Gong Ziwei