Guided by Xi Jinping's ecological civilization strategy and the new energy security strategy of "four revolutions, one cooperation", State Grid has rolled out six major measures to build a new power system with more pumped storage power stations to serve carbon peaking and neutrality.
First, accelerating development with a better layout. To implement the national plan for renewable energy development and meet the demand for peak adjustment on regional and provincial grids, State Grid made plans to promote the investment, and construction of pumped storage power stations. The company will further invest over RMB100 billion in pumped storage power stations with more than20GW installed capacity in areas with abundant new energy resources and load centers during the 14th Five-year Plan period.
Second, cooperating for win-win results. State Grid will open its pumped storage projects to private investors in a flexible and rational manner. Private investors can build and manage the power stations as majority shareholders if they acquire qualification. State Grid will cooperate with all parties towards “co-construction, shared benefits” mechanism for win-win results.
Third, build power stations with high quality. State Grid will make overall arrangements for design, construction, supervision, and manufacturing towards standardization and mechanized construction. We will advance the construction schedule in an environmental-friendly and cost-saving way and build every station in line with ecological and quality standards.
Fourth, scientific dispatching and efficient utilization. State Grid will give full play to its advantage of coordinated grid dispatching by combining new energies and pumped storage for synergy effects. We will apply better pricing and regulation mechanism for cost control and utilization rate, thus promoting sustainable development of pumped storage stations. State Grid will also study the roadmap for such stations to engage in the power market for more flexible dispatching of the grid.
Fifth, fulfilling our duty by providing quality services. State Grid will facilitate the integration of pumped storage stations in its service area, making sure they can be connected to the grid and put into operation at an early date. We will provide quality services for the stations by leveraging advantages in construction, operation, and management.
Sixth, tackling technical difficulties together through innovation. State Grid will work together with equipment manufacturers and contractors to tackle such technical difficulties as the speed-change generator-motor, over-400MW units, and switches made locally. By upgrading the equipment manufacturing and project engineering, we strive to achieve self-independence and innovation in key technologies.
State Grid will resolutely implement the decisions of the government, shouldering our historical missions based on the new development concepts and new development paradigm in the new stage. As the backbone and cornerstone of the country, we will pool together strengths towards low-carbon energy transition, and speed up the construction of pumped storage stations for a new power system underpinned by the renewable energy and the goal of carbon peaking and neutrality.