www.ferroalloynet.com: On November 16, Hangzhou Boiler Group (002534) issued an announcement that the company’s holding subsidiary, Hangzhou Boiler Energy Investment, planned to use its own funds to invest 5 million yuan to establish a wholly-owned subsidiary Hangzhou Xizi Smart Energy Co., Ltd. (tentative name, hereinafter referred to as ” Xizi Smart Energy”). Xizi Smart Energy plans to invest in the construction of a smart energy storage power station project in the Chongxian plant area of Hangzhou Boiler Group. The energy storage demonstration project uses all-vanadium flow batteries with a construction scale of 1000kW/4000kWh.
According to the electricity demand of the Chongxian manufacturing base and based on the existing site resources, the company plans to build a flow battery energy storage demonstration project-Chongxian Smart Energy Storage Power Station. The project adopts an all-vanadium flow battery energy storage system with a construction scale of 1000kW/4000kWh, which is mainly composed of an energy storage prefabricated warehouse system, an energy storage inverter system, a step-up transformer box, a 10kV high-voltage power distribution cabinet, and auxiliary systems. The system is charged during the trough period and discharged during the peak or peak period to meet part of the factory power consumption.
The actual total investment of the flow battery energy storage demonstration project is about 15.7 million yuan. It is planned to adopt a 30% self-owned capital + 70% bank loan model. It is planned to start construction in January 2022 and be completed and put into operation at the end of March 2022.
The roof of the industrial plant in the company’s Chongxian plant has previously been laid with a scale of 4MW distributed photovoltaic panels to generate grid power. The flow battery energy storage demonstration project uses a safe all-vanadium flow battery system to store electricity, which acts as a load when charging and automatically switches to the discharge mode as a power source to provide electrical energy when needed. The energy storage system makes full use of the time-of-use electricity price, adopts the mode of valley charging and peak discharge, and can also absorb excess photovoltaic power, keep the power demand of the power plant stable, meet the response speed of the grid AGC regulation and control requirements, and provide auxiliary peak and frequency modulation services for the grid. In addition, as the peak-to-valley load difference in Jiangsu and Zhejiang is gradually increasing, and the industry has high requirements on a load of electricity, the energy storage peak and frequency modulation and comprehensive function mode adopted in this project have good demonstration value.
Hangzhou Boiler Group has always implemented the concept of energy-saving and emission reduction, adhered to the road of green development, promoted green and low-carbon development, promoted the safe and efficient use of clean energy, low carbon, and efficient use, and is committed to becoming the world’s leading supplier of energy-saving and environmentally-friendly equipment and overall solutions for energy utilization. The company actively explores the “renewable energy + energy storage” model. This investment relies on electrochemical energy storage to build a user-side flow battery energy storage demonstration pilot, to achieve the coordinated conversion and integrated deployment of multiple energy sources, and to give full play to energy storage its role in the consumption of renewable energy and the security of the power grid. After the flow battery, energy storage demonstration project is put into operation, it is estimated that the annual electricity cost of the Chongxian plant will be reduced by about 2 million. After the project is completed, it will serve as a demonstration of the flow battery energy storage market, laying a foundation for the expansion of the energy storage market.
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