What is Xinhua Wushi energy storage project?

Compared with the same thermal power generation capacity, Xinhua Wushi energy storage project can save 150,000 tons of standard coal and reduce carbon dioxide emissions by 390,000 tons per year.

How big is China's energy storage capacity?

Sign up here. Current installed new energy storage capacity, which is made up mostly of lithium-ion battery storage, was 95 GW as of June, the regulator, the National Energy Administration, said in August. China has raced ahead of its energy storage targets in the past.

What are the leading energy storage battery companies in China?

Leading energy storage battery companies in China include BYD (002594.SZ), which is also the country's biggest electric vehicle maker, and CATL (300750.SZ).

How much is the energy storage project cost?

According to reports, the total investment of the project is 4.1 billion yuan, the use of two kinds of energy storage batteries, including lithium iron phosphate batteries, energy storage time of 4 hours, the station can store 2 million KWH of electricity once charging, can meet the electricity demand of about 300,000 households for 1 day.

How much will China's ESG plan stimulate investment?

The plan, released by the state planner, National Development and Reform Commission, and the energy regulator, said the target will stimulate 250 billion yuan ($35 billion) in investment in the sector. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.

What is new energy storage?

New energy storage refers to electricity storage processes that use electrochemical, compressed air, flywheel and supercapacitor systems, but not pumped hydro, which uses water stored behind dams to generate electricity when needed. Our Standards: The Thomson Reuters Trust Principles.