South Grid Storage and Yunnan Dayao County signed an agreement on the Pumped Storage and Comprehensive Development Project of New Energy Storage on September 26. According to the announcement of South Grid Storage on September 26, it signed the Framework Agreement on the Pumped Storage and Comprehensive Development Project of New Energy Storage in Dayao County, Chuxiong Yi Autonomous Prefecture, Yunnan Province with the People's Government of Dayao County, Yunnan Province (hereinafter referred to as "Dayao County Government") on September 26, 2023. The Dayao Pumped Storage Project is located in Dayao County, Chuxiong Yi Autonomous Prefecture, Yunnan Province. It is a key implementation project of the "15th Five-Year Plan" of the National Energy Administration's "Medium and Long-term Development Plan for Pumped Storage and Energy Storage (2021-2035)". The initial planned installed capacity is 1.2 million kilowatts.

According to the agreement, the two sides adhere to the law and regulations, give full play to their respective advantages, integrate various resources, and jointly promote the adjustment of the Dayao Pumped Storage Project into a key approved and started construction project of the country's "14th Five-Year Plan".