On March 6, 2023, the signing ceremony of the investment and development agreement for the Gonghe (Duolong) pumped storage energy grid-load storage project in Hainan Prefecture, Qinghai Province was officially held in Gonghe County, Hainan Tibetan Autonomous Prefecture. A project investment and development framework agreement was signed.

Duolong Pumped Storage Energy Grid Load Storage Project

According to reports, the integration of source, network, load and storage and the development of multi-energy complementarity are the internal requirements of the power industry to adhere to the system concept, and are the objective needs of realizing the high-quality development of the power system. Hainan Prefecture Gonghe (Duolong) Pumped Storage Energy Network Load Storage Project has a total installed capacity of 3.9 million kilowatts and a total investment of about 22 billion yuan. It is planned to be completed and put into operation before 2029.

Hainan Prefecture, as the core area of ecological protection and high-quality development in the Yellow River Basin, has a long history and profound cultural heritage, significant location advantages and broad development prospects. Driven by characteristic industries, create a highland of ecological civilization, promote the green rise of the Pan-Republic Basin, and become a new area with great development vitality and investment value.

The Gonghe (Duolong) pumped storage energy grid-load storage project in Hainan Prefecture, Qinghai Province was included in the National Energy Administration's "Pumped Storage Medium and Long-Term Development Plan (2021-2035)", and it is the largest pumped storage project currently planned and constructed in Qinghai Province. The key project of the new power system, the implementation of the project can greatly improve the peak-shaving and frequency-regulating capabilities of Qinghai Power Grid and reduce the rate of new energy curtailment, and further ensure the safe and stable operation of the Northwest Power Grid. The completion of the project will help Hainan build a globally competitive clean energy The industrial chain has special significance. Editor/He Yuting