China Energy Jiangsu Branch Signs a Strategic Cooperation Agreement on 500MW New Energy Project

The Jiangsu branch of China Energy and Suyan Group signed a strategic cooperation agreement on a 500MW new energy project on July 6, according to which the two sides will strengthen cooperation in fields like new energy development, energy storage, and comprehensive energy service, give full play to Suyan Group’s resources in land, salt rock gas, new energy, etc. and leverage the advantages of China Energy’s Jiangsu branch in power plant operation and new energy project construction, so as to jointly set a model for cooperation between state-owned enterprises.

According to the agreement, following the principle of “multi-energy complementarity, integrated supporting, and green development,” the two sides will launch 400MW photovoltaic power projects and 100MW wind power projects in the salt mines and on the roofs of factory and warehousing buildings of Suyan Group, and carry out cooperation in developing distributed gas-fueled power plants and R&D of new technologies concerning compressed air energy storage and power generation by leveraging Suyan Group’s abundant salt rock gas reserves. Moreover, the Jiangsu branch of China Energy will take advantage of its resources in personnel training and power generation to provide Suyan Group with safety management training and vocational skill certification service, supply cheap electricity power and help it improve the operational capacity of its own power plants, enhance risk management and control capacity, and reduce production costs, thus achieving win-win cooperation and shared development.