On the morning of March 11, the 200MW/400MWh grid-side energy storage project in Wuyi County, Jinhua City, Zhejiang Province officially started, which is also the largest grid-side independent energy storage project in Zhejiang Province, which is currently the largest grid-side independent energy storage project in Zhejiang Province, which was signed by Wuyi County, Jinhua City and Sunwoda Smart Energy, with a total planned investment of 800 million yuan.
According to Shenzhen Sunwoda Smart Energy Co., Ltd. (hereinafter referred to as Sunwoda Smart Energy), on the morning of March 11, the 200MW/400MWh grid-side energy storage project in Wuyi County, Jinhua City, Zhejiang Province officially started, which is also the largest grid-side independent energy storage project in Zhejiang Province. The project was signed by Wuyi County, Jinhua City, Zhejiang Province and Sunwoda Smart Energy, with a planned total investment of 800 million yuan, and the project will be connected to the grid before June 30, 2024 according to the construction target.

Meng Xiangjun, general manager of Sunwoda Smart Energy, said at the groundbreaking ceremony: "Sunwoda (300207) actively responds to the national 'dual carbon' strategy, based on its own lithium battery manufacturing advantages, and focuses on the promotion of multiple types of energy storage application scenarios. The Wuyi project is the beginning of Sunwoda's strategic layout of energy storage on the grid side of Zhejiang Province, and it is also a benchmark demonstration project of energy storage for the group."

According to the data, on August 31, 2023, the Zhejiang Provincial Energy Bureau issued the "Notice on Issuing the New Energy Storage Installed Target Tasks before the Peak Summer of 2024", and the Jinhua Wuyi 200MW/400MWh grid-side energy storage project was included in the Provincial Energy Bureau's new new energy storage task plan before the peak summer of 2024, and the document clearly states that "the projects included in the list of projects in this notice are regarded as included in the 14th Five-Year Development Plan for New Energy in Zhejiang Province". At the same time, the project has been included in the 2024 major construction projects of Zhejiang Province to expand effective investment in the "thousands of trillions" project.

It is understood that after the completion of the project, it can accept power grid dispatching, effectively alleviate the intermittent and random impact of wind energy, photovoltaic and other energy sources on the power grid, and has significant advantages in peak regulation, frequency regulation, phase modulation and emergency backup, etc., which is of great significance for promoting green energy transformation, responding to extreme events, ensuring energy security, promoting high-quality energy development, and achieving the "double carbon" goal.