[Revenue Generally Falls Short of Expectations: Construction of 100-Megawatt Salt Cavern Compressed Air Energy Storage Project in Hengyang, Hunan Terminated]
On the evening of January 15, Xue Tian Salt Industry announced its decision to halt the construction of the 100-megawatt salt cavern compressed air energy storage innovation demonstration project in Hengyang. According to the announcement, considering the current supply surplus of new-type ESS in Hunan, low-price competition in capacity leasing, and the lack of effective policy guidance, revenue from new-type ESS power station projects generally falls short of expectations. To mitigate investment risks, the board of directors of Zhongdian Xueyan decided to terminate the construction of the Hengyang 100-megawatt salt cavern compressed air energy storage innovation demonstration project and proceed with liquidation and deregistration procedures in accordance with relevant regulations.
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