China Energy Storage Network News Center, Source: China Energy Storage Network (CSO) News: (reporter, Yellow Road) the Compressed air energy storage has passed the KWMW level demonstration stage, entered the 100 MW commercial start-up stage. Shaangu power (601369.SH ) has a wide range of businesses, "The company has completed the design of the 300MW Compressed air energy storage project and is in the process of manufacturing the compressors. We expect to be connected to the grid by the end of this year," Chen Dandmin, vice-chairman and general manager of Shaanggu Power, said at a performance briefing yesterday. He also revealed that the company has completed the 10,100,300 MW scale of Compressed air energy storage, 10,60 MW liquefied air energy storage and other series of compressor system technical solutions. The hydrogen metallurgy project of Hegang has been debugged, and the project is progressing normally.

Shaangu Power's main products are centrifugal compressor, steam turbine, axial compressor, air separation unit, etc. . According to the 2022 annual report, the company's 2022 operating income was 10.766 billion yuan, up 3.91 percent year-on-year, and its net profit was 968 million yuan, up 12.96 percent year-on-year. The pace of growth slowed in 2022 compared with 28.47 per cent in revenue and 25.17 per cent in net 2021. According to the financial report, the company's 2022 credit and asset impairment provision of about 220 million yuan. Zhao Jiawen, chief financial officer of the company, explained this in two ways. First, the company focuses deeply on the distributed energy market Second, by the macro-market environment and Downstream Customer Project Implementation Progress, part of the project payment lag. Last year, the company signed the world's first set of single-unit capacity 300 MW Compressed air energy storage compressor project (Hubei Yingcheng 300 MW Compressed air grid side energy storage demonstration project) , the Compressed air energy storage project has achieved “World first in single-engine power”, “World first in energy storage scale” and “World first in conversion efficiency” in the field of non-combustion Compressed air energy storage. The Air compressor and auxiliary equipment for the project will be supplied by Shaangu power under a 226-million-yuan contract. What about orders so far this year? “The company is focusing on distributed energy system solutions, accelerating the development of distributed energy markets and increasing orders,” according to the company's 2023 business plan, the targets for revenue and net profit were 10.865 billion yuan and 971 million yuan respectively, which were basically the same as last year.

Other investors are interested in whether there are any other bid opening projects and winning bids in addition to the Hubei project mentioned above? Chen said Compressed air energy storage was a new type of energy storage encouraged by the state. The company is currently following up and participating in a number of Compressed air energy storage projects. In the future, the company will cooperate with key upstream and downstream Compressed air enterprises and engineering units. The National Development and Reform Commission and the national energy administration's “14th five-year plan” for the development and implementation of new types of energy storage are clear that by 2025, new Energy storage from the initial stage of commercialization into large-scale development stage, with large-scale commercial application conditions. According to incomplete statistics, the current planned capacity of Compressed air energy storage is more than 10 GW, and by 2025, the market for compressors needed for Compressed air energy storage will reach 36 billion yuan, according to the relevant agencies.