3 Billion Yuan Investment in Vanadium Flow Battery Energy Storage Signed in Liyang
Date: 13 Dec 2024 |
Source: AsiaChem Energy WeChat, 13 December 2024
Liyang (Jiangsu province, China) has taken a monumental step towards advancing energy storage technology with the signing of a 3 billion Yuan vanadium flow battery energy storage industrial park agreement. This landmark project, set to produce 2.5 GWh of energy storage systems annually, is a collaboration among Hua Dong Xinhua Energy Investment Co., Ltd., Zhejiang Xingchen New Energy Technology Co., Ltd., Jiangsu Guoqiang Holding Group Co., Ltd., and the Liyang Economic Development Zone.
The signing ceremony on 11 December, attended by Liyang Mayor Zhou Yongqiang, highlighted the city’s unique advantages in geography, industrial integration, and infrastructure. Mayor Zhou pointed to the rapid rise of the energy storage sector and emphasized the transformative potential of this project.
Spanning 400 acres, the industrial park will incorporate the full energy storage supply chain, including vanadium flow battery stack manufacturers, integrated storage solutions, and system assembly enterprises. Upon completion, it is expected to generate an annual output of approximately 50 billion RMB.
Complementary projects, such as grid-side energy storage stations, a zero-carbon smart park demonstration, and a digital energy management initiative, will also be launched. These efforts align with Liyang’s vision for high-tech, intelligent, and sustainable energy solutions.