Hunan YinFeng and Baotou City Collaborate on 300MW Annual Vanadium Flow Battery and System Integration Production Line Project
Date: 13 Sep 2024 |
September 13, 2024 – Hunan Yinfeng New Energy Co., Ltd., a leading player in the renewable energy sector, has taken a major step forward in the development of vanadium flow battery technology, signing a strategic agreement with the Baotou City Government and Jiuyuan District to establish a 300MW annual production facility for vanadium flow batteries. This project, with a total planned investment of ¥11.5 billion, is set to enhance China's renewable energy landscape and push forward green energy initiatives.
Strategic Cooperation for Green Energy Growth
On August 29, 2024, representatives from both sides, including Jiuyuan District’s Deputy Secretary and Mayor Liu Xiaoping and Baotou New Materials Industrial Park Secretary Xie Dagang, welcomed Hunan Yinfeng Chairman Lu Shanguang to discuss collaboration opportunities. Together, they visited several key sites in the industrial park, including companies like Daqo New Energy and Guangwei New Materials, culminating in the signing of a comprehensive cooperation framework.
This partnership aims to leverage Baotou’s industrial capabilities and Yinfeng’s expertise in vanadium flow battery technology to jointly establish a production line capable of producing 300MW of vanadium flow battery units annually, along with integrated systems and other key components for energy storage.
Key Investment and Development Plans
The vanadium flow battery industrial park will be constructed in two phases:
- Phase 1: A ¥2 billion investment to build a 300MW production line for vanadium flow batteries, along with facilities to produce 100,000 cubic meters of vanadium electrolyte and 10,000 tons of high-purity vanadium pentoxide. Once fully operational, Phase 1 will generate an annual revenue of ¥1 billion, with expected tax contributions of ¥100 million annually.
- Phase 2: This stage will involve a larger ¥9.5 billion investment, scaling up production to 1.3GW of vanadium flow batteries and expanding vanadium electrolyte production to 500,000 cubic meters per year. The combined facility is projected to generate an annual output value of ¥22.5 billion and ¥1.7 billion in tax revenue, supporting Baotou’s economic development and strengthening its renewable energy infrastructure.
Supporting Baotou's Carbon Peak Goals
Baotou’s New Materials Industrial Park, which will host this project, has pledged to provide the necessary infrastructure and resources, ensuring timely delivery of the factory leases and project site for Phase 1. The vanadium flow battery industrial park will not only aid Baotou in achieving its carbon peak targets by 2027 but will also promote the city’s broader efforts in economic and industrial transformation.
Through this large-scale investment in vanadium flow battery technology, Baotou and the wider Inner Mongolia Autonomous Region will become leaders in the new energy sector, forming an integrated industry cluster that spans the entire vanadium battery supply chain—from upstream raw materials to downstream applications such as energy storage and grid frequency regulation.
A National Benchmark for Innovation and Sustainability
The successful implementation of this project will establish a benchmark for China’s renewable energy sector, serving as a model for both technological advancement and industry standardization. The project is set to play a pivotal role in promoting the widespread adoption of vanadium flow batteries across the country, contributing to environmental sustainability and the development of new energy industries.
Once operational, the facility will significantly enhance the local economy, create job opportunities, and support the long-term growth of renewable energy infrastructure in China.