When the wind, solar, and photovoltaic installed capacity on tropical islands exceeds traditional power sources, the peak shaving pressure on the Hainan power grid suddenly intensifies. In the depths of the Qiongzhong Mountains, a giant power bank is about to emerge - the Huangzhuping Pumped Storage Power Station has opened the curtain of investment subject selection, seeking the strongest escort for the green transformation of the isolated power grid.

The Hainan Provincial Development and Reform Commission recently released a notice on the selection of investment entities for the Qiongzhong Huangzhuping Pumped Storage Power Station project. The project is located in Qiongzhong County, adjacent to Haikou and Sanya. The initial planned installed capacity is 1800MW, equipped with six 300MW units, with a total static investment of 8.37 billion yuan, and the unit cost is at a reasonable level in the industry.

New energy accounts for over half of the total

As of June 2026, the installed capacity of new energy in Hainan has reached 12.71 million kilowatts, accounting for over 50%, entering a new stage of power development dominated by new energy. Hainan is an isolated power grid with limited connectivity to the mainland and weak power regulation capabilities. It urgently needs to rely on pumped storage to enhance the local power grid's peak shaving and stable supply capacity.

Strict selection rules and constraints

In this public selection of investment entities, the selected enterprises are fully responsible for the entire lifecycle construction, financing, operation and maintenance of the project, and bear all costs and risks. The project specifies two mandatory construction period requirements: start construction within 6 months after filing, and achieve the first unit operation within 70 months of starting construction. At the same time, a strict exit mechanism will be announced. If an enterprise fails to complete the project on time, subcontracts in violation of regulations, or is listed as untrustworthy, it will be unconditionally dismissed, and the project will be taken over and re selected by the official free of charge. Keywords: pumped storage, new energy, power grid

Selection threshold: Strength is king

The total dynamic investment of this project exceeds 9 billion yuan, with a long construction and operation cycle and extremely high investment threshold. At present, state-owned enterprises such as Three Gorges Group, Southern Power Grid Energy Storage, Datang Hainan, and China Power Construction have potential participation advantages, and the final ownership will be subject to the publicly available selection results.

The focus of this evaluation is on the three core competencies of the enterprise: sufficient financing strength, mature experience in pumped storage operation and maintenance, and the ability to coordinate layout in line with the construction of Hainan's new power system.Editor/Gong Ziwei