Core Insights - Chengdu has launched a new energy storage project aimed at enhancing the provincial power grid by establishing a comprehensive supply chain for new energy storage [2] - The project includes a detailed supply list of 26 key enterprises in the new energy storage industry, covering technologies, products, and services [2] - The first independent energy storage project in Chengdu, a 100MW/200MWh electrochemical storage power station, has been successfully constructed and is operational [2] Industry Developments - The 100MW/200MWh energy storage station can store 200,000 kWh of electricity, theoretically meeting the peak demand of 50,000 households for 2 hours [2] - This project is expected to significantly improve grid regulation capabilities and enhance the consumption of renewable energy [2] - The project serves as a benchmark for the large-scale and commercial development of energy storage in the province [2] Project Achievements - The first phase of the project took only 3 months from construction to grid connection, marking it as the first operational commercial user-side energy storage project in the province [4] - The project utilizes a "two charge, two discharge" operation model and an intelligent energy management system, achieving an average daily flexible dispatch of 20,000 kWh [4] - It is projected that the annual charging and discharging volume will reach between 5.5 million to 6 million kWh, saving nearly 1 million yuan in electricity costs for enterprises each year [4] Business Collaborations - The event facilitated the signing of 6 user-side energy storage projects in Chengdu, involving 8 enterprises on both supply and demand sides, with a total investment of 150 million yuan [4] - Notably, the New Jin District has successfully fostered collaborations between supply-side enterprises and user-side companies, enhancing the efficiency of the energy storage supply chain [4]

Core Viewpoint - Leshan Electric Power Co., Ltd. has made significant progress in its energy storage projects, with two major 100MW/200MWh electrochemical energy storage stations being included in the Sichuan provincial grid-side new energy storage project list for 2025 [1][2]. Group 1: Project Developments - The Chengdu Qingshan District 100MW/200MWh electrochemical energy storage station project has been officially included in the Sichuan provincial grid-side new energy storage project list for 2025 [1]. - The company completed a simplified procedure for issuing A-shares on February 20, 2025, raising a net amount of 198.13 million yuan for the construction of the Longquanyi District 100MW/200MWh electrochemical energy storage station [1]. Group 2: Operational Impact - The project is expected to undergo network testing after commissioning, with commercial operation anticipated to begin in approximately three months [2]. - The impact of the project on the company's 2025 operating performance cannot be accurately measured at this time, with final figures to be determined in the audited annual financial report [2].

Core Viewpoint - The Sichuan Provincial Development and Reform Commission has released a list of new energy storage projects for the year 2025, totaling a capacity of 3.02 GW and 8.24 GWh, with various technologies involved [1][3]. Summary by Sections Project Overview - A total of 27 new energy storage projects have been announced, with a combined capacity of 3.02 GW and 8.24 GWh [1]. - The technologies included in these projects are compressed air storage, new solid-state batteries, supercapacitors, lithium iron phosphate, sodium-ion, all-vanadium flow storage, and titanium acid lithium [1]. Project Implementation Guidelines - Local development and reform commissions and energy authorities are instructed to guide and coordinate the construction of these projects [3]. - Project owners are encouraged to expedite implementation based on market principles, and projects that do not commence within one year will be removed from the list [3]. - Emphasis is placed on safety responsibilities and compliance with safety and fire management requirements during construction and operation [3]. Detailed Project List - The project list includes various projects such as: - Longquanyi District: 100 MW/200 MWh centralized storage [5]. - Shudao Clean Energy Group: 300 MW/2400 MWh compressed air storage [5]. - Huaneng Jingshun: 200 MW/400 MWh new energy storage [5]. - Multiple projects across Chengdu, Yibin, and other regions, with capacities generally around 100 MW/200 MWh [5][6]. Related Information - Additional information regarding the operational revenue calculation for user-side new energy storage in Sichuan has been published [7].

Core Viewpoint - The National Energy Administration has released a series of key industry standards aimed at ensuring energy security and promoting green low-carbon transformation, as well as the development of new technologies, industries, and business models [1] Group 1: Leading Development of New Energy Technologies, Industries, and Business Models - The "Distributed Phase Shifting Device Grid Connection Technical Specifications" standardizes the grid connection design and testing for distributed phase shifting devices, supporting the development and safe operation of large-scale renewable energy bases [2] - The "Multi-Energy Complementary Project Economic Evaluation Specification" provides a unified economic evaluation framework for multi-energy complementary projects, enhancing decision-making and evaluation consistency [2] - The "Electrochemical Energy Storage Station Grid Connection Acceptance Technical Specifications" standardizes the acceptance procedures for electrochemical energy storage stations, improving safety and stability during operation [3] - The "Compressed Air Energy Storage Station Underground Gas Storage Design Specifications" fills a technical standard gap for underground gas storage in compressed air energy storage stations, crucial for design and construction [3] - The "Compressed Air Energy Storage Station Design Specifications" enhances the design standardization and equipment compatibility for non-combustion compressed air energy storage stations, reducing investment risks [3] - The "5G Communication System Communication Terminal for Coal Mines" ensures the quality and performance of communication terminals, promoting the application of 5G technology in the coal mining industry [4] - The "Underground Inspection Robot for Coal Mines" provides guidelines for the production and inspection of inspection robots, enhancing safety and efficiency in coal mine operations [5] Group 2: Promoting Research and Application of Major Energy Technology Equipment - The "General Technical Conditions for Small Wind Turbine Generating Units" standardizes technical requirements for small wind turbines, improving product quality [6] - The "Direct Current Output Wind Turbine Generating Units" establishes technical requirements for direct current output wind turbines, enhancing product reliability and performance [6] - The "Technical Specifications for 1000kV Boost Transformers for Power Plants" improves transformer technology levels and promotes reliable operation through updated engineering application experiences [7] - The "Technical Conditions for High Mining Hydraulic Supports" provides technical support for the design and inspection of hydraulic supports in coal mining, enhancing operational safety [7] Group 3: Standardizing Energy Engineering Technical Management Requirements - The "Quality Evaluation Specification for Household Photovoltaic Power Generation Systems" offers a basis for quality evaluation, promoting improvements in household photovoltaic project quality [8] - The "Heating Technology Specifications for Pressurized Water Reactor Nuclear Power Units" fills a gap in design and technical specifications for nuclear power heating systems [8] - The "General Requirements for Port Shore Power System Construction" standardizes the construction and operation of port shore power systems, facilitating effective implementation [9] - The "General Technical Conditions for Hydraulic Drilling Rigs in Coal Mines" enhances safety and efficiency in coal mining operations through standardized design and inspection [9] - The "General Technical Conditions for Pneumatic Drilling Machines in Coal Mines" promotes safety and standardization in the design and manufacturing of pneumatic drilling machines [10] - The "Energy Efficiency Limits and Levels for Explosion-Proof Three-Phase Asynchronous Motors in Coal Mines" supports energy-saving and emission reduction goals in the coal mining sector [10] - The "Design and Construction Specifications for Hydraulic Fracturing in Coal Seam" provides guidelines for safe and efficient gas extraction in coal mines [11]

Group 1: Development of New Energy Technologies, Industries, and Business Models - The National Energy Administration has released key industry standards to ensure energy security and promote green low-carbon transformation, focusing on the development of new technologies, industries, and business models [1] - The "Distributed Phase Shifting Device Grid Connection Technical Specifications" standardizes the grid connection design and testing for distributed phase shifting devices, supporting the development and safe operation of large-scale renewable energy bases [2] - The "Multi-Energy Complementary Project Economic Evaluation Specification" provides a unified economic evaluation framework for multi-energy complementary projects, enhancing decision-making and improving consistency and accuracy in economic evaluations [2] - The "Electrochemical Energy Storage Station Grid Connection Acceptance Technical Specifications" standardizes the acceptance procedures for electrochemical energy storage stations, improving safety and stability during operation [3] - The "Compressed Air Energy Storage Station Underground Gas Storage Design Specification" fills a gap in domestic standards for underground gas storage in compressed air energy storage stations, ensuring proper design and construction [3] - The "Compressed Air Energy Storage Station Design Specification" enhances the standardization of design and equipment compatibility for compressed air energy storage stations, reducing investment risks [3] Group 2: Promotion of Major Energy Equipment Research and Application - The "General Technical Conditions for Small Wind Turbine Generating Units" standardizes technical requirements for small wind turbines, improving product quality [6] - The "Direct Current Output Wind Turbine Generating Units" specification enhances the quality and reliability of direct current wind turbine generators by setting comprehensive technical requirements [6] - The "Technical Specifications for 1000kV Boost Transformers for Power Plants" improves transformer technology levels and promotes reliable operation by incorporating engineering application experiences [7] - The "Technical Conditions for High Mining Hydraulic Supports" provides technical support and guidance for the design and inspection of hydraulic supports used in coal mining [7] Group 3: Standardization of Energy Engineering Technical Management Requirements - The "Quality Evaluation Specification for Household Photovoltaic Power Generation Systems" establishes a basis for quality evaluation of household photovoltaic systems, promoting quality improvement [8] - The "Heating Technology Specification for Pressurized Water Reactor Nuclear Power Units" fills a gap in technical specifications for heating design in nuclear power units [8] - The "General Requirements for Port Shore Power System Construction" standardizes the construction and operation of port shore power systems, facilitating implementation and maintenance [8] - The "General Technical Conditions for Hydraulic Drilling Rigs in Coal Mines" enhances safety and efficiency in coal mining operations by standardizing the design and inspection of hydraulic drilling rigs [9] - The "General Technical Conditions for Pneumatic Drilling Machines in Coal Mines" improves safety performance and standardizes product classifications for pneumatic drilling machines [10] - The "Energy Efficiency Limits and Levels for Explosion-Proof Three-Phase Asynchronous Motors in Coal Mines" promotes technological innovation and supports energy-saving goals in the coal mining industry [10] - The "Design and Construction Specifications for Hydraulic Fracturing in Coal Seam" provides guidelines for the design and construction of hydraulic fracturing, enhancing gas extraction efficiency and safety [10]

Core Viewpoint - The recent approval of the 500 MW/1000 MWh shared energy storage project by Longyuan Power's Guangxi company marks a significant step in enhancing clean energy storage capabilities in the region [1] Group 1: Project Details - The energy storage station is located in Beiliu City, Yulin, Guangxi, with a planned capacity of 500 MW and an area of approximately 100 acres [1] - The project will utilize lithium iron phosphate batteries and will be equipped with 100 energy storage units, each consisting of a battery unit and a PCS boosting unit [1] Group 2: Environmental Impact - Once operational, the facility can store 1 million kWh of clean electricity per charge, with an expected annual charge and discharge cycle of no less than 250 times [1] - The annual charge and discharge volume is projected to be around 250 million kWh, which will reduce standard coal consumption by approximately 75,000 tons and decrease carbon dioxide emissions by about 195,000 tons compared to equivalent thermal power plants [1]

Core Viewpoint - The article discusses the successful bid for a 300MW/1200MWh independent energy storage project in Wuwei City, Gansu Province, highlighting the project's specifications, financial details, and construction timeline [1][2][3]. Group 1: Project Details - The project is located in the Jiuduntan Photovoltaic Sand Control Demonstration Park, approximately 52 km from the center of Wuwei City, with convenient transportation access [2]. - The energy storage station will consist of 60 lithium iron phosphate storage units connected via cable T-junctions to a newly built 330 kV booster station [2]. - The total bid amount for the project is approximately 1.26 billion yuan, with a unit price of 1.05 yuan per watt-hour [2]. Group 2: Construction Timeline - The planned start date for construction is June 2025, with a total construction period of 240 calendar days [3]. - The project will be executed under an EPC (Engineering, Procurement, and Construction) contract, where the contractor is responsible for all aspects from initial design to project completion and acceptance [3]. Group 3: Related Projects - The article references other energy storage projects, including a 200MW/800MWh project in Inner Mongolia and a 320MW/640.2MWh project in Shandong, indicating a growing trend in energy storage capacity [4].

Core Viewpoint - Leshan Electric Power has experienced a significant stock price increase, attributed to its strategic shift towards energy storage and the successful completion of a new energy storage project [1][2][5] Group 1: Stock Performance - Leshan Electric Power's stock price rose from just over 7 yuan to a peak of 18 yuan, marking an increase of over 130% [1][5] - Institutional investors reported a floating profit exceeding 60 million yuan due to this stock price surge [1][5] Group 2: Strategic Transformation - The company's stock price increase is closely linked to its transition into energy storage, particularly through the establishment of a 100MW/200MWh energy storage project in Longquanyi District [2][6] - This project has been selected as a pilot demonstration project for new energy storage in Sichuan and is expected to commence production in the summer [2][14] Group 3: Institutional Investment - Institutional investors, such as Xi'an Lihua Investment Management Co., entered the company through a directed issuance at a price of 5.01 yuan, acquiring 5.988 million shares for a total of 30 million yuan [5][6] - The lock-up period for these shares will expire on August 20 of this year, potentially impacting future trading dynamics [5][6] Group 4: Business Operations - Leshan Electric Power has historically focused on local utilities, with 91.52% of its revenue coming from the Leshan area, primarily in water, electricity, and gas services [9][13] - The company is cautious about expanding beyond Sichuan, emphasizing a careful approach to its transformation and potential future growth [15][16] Group 5: Future Prospects - The company aims to transition its energy storage initiatives from the investment phase to a phase where tangible results can be observed [16] - Leshan Electric Power is exploring the integration of virtual power plants and artificial intelligence in energy management, although these initiatives are not directly related to AI computing power [18]

Core Viewpoint - The article discusses the public tender announcement for the construction of a large-scale energy storage power station with a capacity of 63.75MW and 127.5MWh by the State Energy Corporation in Hainan Prefecture, Qinghai Province, highlighting the project's significance in supporting grid frequency regulation and peak shaving services [1][3]. Group 1: Project Overview - The energy storage power station will be located in San Talar, Gonghe County, Qinghai Province, approximately 50 km northeast of Gonghe County Town and 25 km west of Hekai Town, with good transportation conditions [3][6]. - The project includes the construction of a 63.75MW/127.5MWh electrochemical energy storage station, which will connect to a newly built 330kV booster station via four collection lines [2][6]. Group 2: Tender Details - The tender is divided into one package, covering design, equipment procurement (excluding owner-supplied equipment), construction, testing, commissioning, and all necessary procedures to achieve grid connection [2][7]. - The project aims to complete grid-connected power generation, with all related costs and responsibilities falling under the contractor's scope [2][7]. Group 3: Construction and Safety Requirements - The project is classified as a turnkey project, with the contractor responsible for all safety measures, operational plans, and testing requirements as per national standards [8][9]. - The contractor must ensure compliance with anti-terrorism safety measures according to national laws and local standards, integrating electronic and physical security measures [10]. Group 4: Timeline and Location - The planned construction period is five months from the contract signing date, with the actual start date to be confirmed by the tender issuer [10]. - The construction site is located in the photovoltaic park of Gonghe County, Hainan Tibetan Autonomous Prefecture, Qinghai Province [10]. Group 5: Bidder Qualifications - Bidders must be legally registered independent entities and provide valid proof of qualifications, including engineering design and construction licenses [11][12]. - Bidders must demonstrate experience with at least one completed electrochemical energy storage project with a capacity of 1000MWh or more within the specified timeframe [11][12].

Investment Rating - Investment rating: Positive (maintained) [3] Core Viewpoints - The public utility sector is expected to benefit significantly from new trends, particularly due to the recent changes in fund management regulations that emphasize the importance of the "return-risk ratio" [10][12] - The demand for flexible resources in the new power system is driving the growth of energy storage installations, supported by continuous improvements in revenue mechanisms for energy storage stations [6][25] - The report highlights the strong performance of hydropower companies in terms of return-risk ratios, with major players like Yangtze Power and Huaneng Hydropower ranking in the top percentiles of the A-share market [11][12] Summary by Sections Public Utilities - The report suggests increasing allocation to public utilities and power equipment due to the new fund regulations [4][9] - The public utility sector is identified as a major beneficiary of the recent policy changes, which are expected to enhance valuation trends [10][12] Energy Storage - Domestic energy storage utilization is improving, with a total installed capacity of 2.55 GW/5.72 GWh added in Q1 2025 [18] - The report notes that energy storage export orders have surged, with a year-on-year increase of 756.72% in Q1 2025, approaching a total of 100 GWh [25] - Key measures in Shandong province aim to enhance energy storage profitability, including widening the price difference for charging and discharging, and reducing operational costs [5][22] Investment Recommendations - The report recommends focusing on resilient hydropower companies and undervalued thermal power operators benefiting from declining coal prices [13] - Specific companies highlighted for investment include: - Hydropower: Guotou Power, Yangtze Power, ChuanTou Energy - Wind Power: Longyuan Power, Goldwind Technology, Datang Renewable - Thermal Power: Anhui Energy, Shanghai Electric, Huaneng International [13]