On March 1st, Shouhang High-tech (002665.SZ) announced that the company has signed an investment agreement with Feicheng Economic Development Zone Management Committee and will jointly establish a joint venture company to be responsible for the investment and construction of the project, with a total investment amount of 800 million yuan.
According to the announcement, in order to accelerate the development, investment, and construction of new energy storage projects, Shouhang High-tech and Feicheng Economic Development Zone Management Committee have signed an "Investment Agreement for Shandong Feicheng 100MW/400MWh New Compressed CO2 Molten Salt Energy Storage Project" in the field of new molten salt energy storage. According to the agreement, Shouhang High-tech will jointly establish a joint venture company with Shandong Feicheng Economic Development Zone Construction Group Co., Ltd., a subsidiary of Feicheng Economic Development Zone, and the project company will be the main body for the new energy storage project, with a total investment amount of 800 million yuan and a construction capacity of 100MW/400MWh. The construction period is from 2024 to 2025.
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