Yantai Energy Storage Center Launches 1GW/2GWh Storage Project
Date: 03 Mar 2025 |
Source: ASIACHEM WeChat, 3 March 2025
Construction has officially begun on the Yantai Energy Storage Center (Western) 1GW/2GWh project in Laizhou, marking a significant milestone in energy storage development. The project, funded by Lantian Dongfang (Laizhou) Energy Co., Ltd., represents a total investment of 35 billion yuan and has been included in the Shandong Provincial Energy Bureau’s 2024 New Energy Storage Project List.
The first phase of the project, with a 450MW/950MWh capacity and an investment of approximately 13.25 billion yuan, will initially construct a 100MW/210MWh facility. Notably, 95% of the energy storage system will utilize lithium iron phosphate (LFP) batteries, while 5% will be allocated to vanadium flow batteries (VFBs)—a move that integrates both widely adopted and cutting-edge energy storage technologies.
Upon full operation, the project is expected to generate 3.3 billion yuan in annual revenue and contribute 1.9 billion yuan in taxes and profits. Additionally, it serves as an innovative initiative to drive industrial transformation, supporting China’s shift toward sustainable energy. By capitalizing on fast response and high flexibility, the storage facility will help stabilize fluctuations in wind and solar energy output, participate in grid peak shaving, reduce peak load pressures, and enhance overall power supply quality and grid reliability.