Business· Utilities

Shanghai Electric Group introduced China’s first market-oriented shared energy storage

minutes 2019/12/27 09:24:10
Energy storage, Power, Qinghai, Shanghai Electric

Dec 27, 2019 (China Knowledge) - State Grid Qinghai Electric Power Company has just announced China's first domestic market-oriented shared energy storage power station. To be constructed in Golmud City, Haixi Mongol and Tibetan Autonomous Prefecture of Qinghai Province, this new model is expected to help promote the development of shared energy storage in Qinghai.

The power station is invested by Shanghai Electric Power Station Group, which is a unit of Shanghai Electric Group (601727) (2727). The company is a comprehensive equipment manufacturing group with integrated solutions in the fields of energy power. Since 2004, the output, sales volume and orders of thermal power generation equipment of the Group have been the largest globally, and continues to grow steadily.

The Golmud-based power station is expected to come with a scale of 32 MW and 64 MWh capacity. It can store energy, alongside photovoltaic and wind power generation capabilities, by managing fluctuations in electricity generation due to changing conditions and resources.

As at the end of Nov, Qinghai’s power grid has a total installed capacity of 31.53 mln kW, of which 50%, or 15.77 mln kW, comes from new energy sources. The proportion of new energy in Qinghai’s power grid is the highest among all provinces across China.

According to State Grid Qinghai Electric Power Company, it has developed a complementary intelligent power generation with collaborative control system in recent year vis-à-vis market-based demand and supply. In addition, the province has also introduced blockchain technology into the shared energy market trading, and blockchain platform. Through these initiatives, Qinghai aims to promote the development of the energy storage and improve the level of new energy consumption across the province.

State Grid Qinghai Electric Power Company stated that shared energy storage will become an important area of research in the future. It will deepen research on coordinated dispatching control of power stations and power grids based on blockchain technology to enhance energy storage. Such coordination will enrich the market-oriented trading on a varieties of energy storage and promote Qinghai's new energy consumption and transmission capacity.

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