On March 21, Shapotou District reached the framework agreement on 1.2GW VRB project with Jiangsu Linyuan Group Co., Ltd. and SPIC Ningxia Green Power Energy Co., Ltd.
The project plans to invest in the construction of 200MW photovoltaic and 200MW wind power generation projects. It plans to invest RMB1.5 billion (USD220 million) to build VRB energy storage production project in Shapotou District in 2023, and will build VRB energy storage manufacturing plant, energy storage core equipment research and development center and promotion center. With a total covering area of about 120 mu, the project can achieve an annual production capacity of 1.2GWh of VRB after being fully put into production, with an annual output value of about RMB4 billion (USD587 million) and an annual tax amount of about RMB100 million (USD14.66 million).
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