Recently, Huanggang Town and Anhui Yousai Technology successfully signed a cooperation agreement for a 700MW compressed air energy storage project with a total investment of 5.6 billion yuan. Adopting internationally leading non-supplementary firing technology, the project is expected to generate 120 million kWh of electricity annually upon completion. It will not only effectively absorb wind and solar new energy but also improve grid stability through the mode of “storing electricity during off-peak hours and releasing energy during peak hours”.
It is estimated that during the entire project cycle, it will contribute approximately 1.2 billion yuan in tax revenue to the local area, create 800 direct jobs and 1,200 indirect jobs. Moreover, the supporting equipment manufacturing base will drive the clustered development of the equipment industry. “In the future, ‘green electricity’ will become a new engine for the development of Huanggang Town,” said Hu Baoguo, Secretary of the Party Committee of Huanggang Town, with confidence.
At present, Huanggang Town has set up a special service team to provide full-process support from site selection and survey to procedure approval, striving to promote the project to start construction as soon as possible.
