First pumped storage listed company established

South Grid Energy Storage as the first pumped storage listed company

South Grid Energy Storage mainly engaged in pumped storage and new energy storage business. It is the first listed company in the market that is mainly engaged in pumped storage business.

The listing of China Southern Energy Storage Network is the first time in China to help the development of energy storage industries such as pumped storage by means of “capital operation to build a professional listed company platform”.It will integrate the two forces of energy storage and capital market, and inject new kinetic energy into the construction of a new power system.

China Southern Power Grid is positioned as a new force in the construction of a new power system, the main force in maintaining the security and stability of the power grid, a leader in the pumped storage industry, and a leader in the new energy storage industry. Deeply cultivate the business fields of pumped storage and grid-side independent energy storage, and build a new power system with high-quality services.

Currently, 7 pumped storage power plant, 4 electrochemical independent energy storage stations, and 2 peak-shaving hydropower stations are operated and managed, and 4 pumped-storage power stations and 3 electrochemical energy storage stations are under construction.

Simultaneously promote the preliminary development of more than 10 pumped hydro storage and electrochemical energy storage sites. Among them, the total installed capacity of pumped storage in operation is 10.28 million kilowatts, accounting for about 1/4 of the total installed capacity of pumped storage in the country.

Planning for Southern Power Grid Energy Storage

China Southern Power Grid Corporation stated that it will thoroughly implement the new energy security strategy of “four revolutions and one cooperation”, earnestly implement the three-year action plan for the reform of state-owned enterprises and the specific requirements for improving the quality of listed companies.

Fully support China Southern Energy Storage to build a flagship leading enterprise in the field of energy storage, actively use the capital market to promote state-owned capital to become stronger, better and bigger, and take the reorganization and renaming of China Southern Energy Storage as an opportunity to go public.

Accelerate the development of pumped hydro energy storage and new energy storage, and be a pioneer and set an example in the journey of promoting the construction of a new power system and helping to achieve the “dual carbon” goal.

Wang Hongzhi, director, general manager and deputy Party secretary of China Southern Power Grid Corporation, expressed in his speech that he hoped that China Southern Power Grid Energy Storage would build a high-quality listed company, make full use of the power of the capital market, and vigorously develop pumped storage and new energy storage business.

We will strive to promote the construction of the competitive auxiliary service market, play a better leading role in the energy industry chain and value chain, return the majority of investors, shareholders and society with excellent performance, provide important support for the construction of a new power system, and contribute to the realization of the “double carbon” goal.

South Grid Energy Storage company transformation introduction

At present, China is in a critical period of development of green low carbon energy transformation, new energy storage solutions such as offshore wind power, photovoltaic large-scale fast development, the load frequency control, energy storage, such as auxiliary service quality has become one of the major requirements, new energy grid is an important support of the security and stability of power system, is the key to build a new type of power system components.

In 2021, China Southern Power Grid Corporation earnestly implemented the Opinions of The State Council on Further Improving the Quality of Listed Companies, actively used the capital market to promote enterprises to improve governance and standardize operation, deepen reform and promote development, and took major asset restructuring of Wenshan Power, its listed company, as the key project. The company will inject 100% equity of Peak and Frequency Modulation Power Generation Co., LTD into Wenshan Power to promote the overall listing of pumped storage and grid side independent energy storage business.

Through this restructuring, Nanwang Energy Storage will be transformed from a listed company engaged in local traditional power supply business to a high-quality listed company platform facing the national market, operating pumped storage and new energy storage and other advanced industries, and its revenue generation and profitability will be greatly improved.

As a scientific innovation demonstration enterprise of State-owned Assets Supervision and Administration Commission of the State Council and an innovation base of pumped storage and new energy storage, South Grid Energy Storage will promote the integration of industrial chain innovation chain through demand traction, integrated innovation and other ways, and continue to play a leading role in the construction of variable speed and large capacity units of pumped storage.

The company will take the opportunity of restructuring, changing its name to go public, promote the deepening of reform, improve the market-oriented management mechanism, and steadily improve the operating efficiency; Strengthen scientific and technological innovation, strive to be the longest industrial chain in the field of energy storage, and continue to enhance core competitiveness; Voluntarily accept supervision, enhance the transparency of the company, actively safeguard the legitimate rights and interests of all shareholders, strive to be the standard governance model of listed companies.

It is reported that the South network energy storage plan “fourteen five”, “fifteen five” and “sixteen five” respectively put into production of pumped storage 6 million kW, 15 million kW, 15 million kW, 15 million kW, independent energy storage of 2 million kilowatts, 3 million kilowatts and 5 million kilowatts on the grid side will be put into operation to meet the access and consumption of 300 million kilowatts of new energy. The total investment is expected to be about 200 billion RMB by 2030.