China Southern Power Grid Eyes 600MW New Energy Storage in 2024, With Current Stations Yielding 5% IRR

China Southern Power Grid Energy Storage: Internal Rate of Return of Nine Operating Energy Storage Power Stations Is Approximately 5%; Plans to Add 600MW of New Energy Storage in 2024"

Recently, during an investor research session, China Southern Power Grid Energy Storage stated that all nine of its currently operational electrochemical energy storage stations are demonstration projects, with a capital internal rate of return (IRR) of approximately 5%, indicating reliable and stable returns. According to the company's planning, by 2035, its installed capacity of pumped storage and new energy storage will reach approximately 440 million kW and 10 million kW respectively. In 2024, the company plans to add 600,000 kW of new energy storage capacity, which is expected to be operational by the end of the year.