As of May 12, the two BKS-40Mvar/110kV three-phase shunt reactors contracted by Baobian Electric for the world's largest energy storage project, the Saudi Red Sea New City Energy Storage Project, all passed the test at the Baoding factory. The test data shows that the performance indicators of the product fully meet the contract requirements.
Who is Baoding Tianwei Baobian Electric?
Baoding Tianwei Baobian Electric Co., Ltd. (hereinafter referred to as "Baoding Electric") is a holding enterprise of China Ordnance Equipment Group Corporation, adhering to and developing the main excellent assets of the original Baoding Transformer Factory and the scientific research achievements and product brands of large-scale transformers.
The country has already surpassed this initial goal, two years ahead of schedule. According to China's National Energy Administration, the country's overall capacity in the new-type energy storage sector reached 31.4 GW by the end of 2023. It increased capacity year-on-year by more than 260%, and almost 10 times since 2020.
Will China reach 30 GW of non-hydro energy storage by 2025?
In 2021, the Chinese government set a target of 30 gigawatts (GW) of non-hydro energy storage by 2025. The country has already surpassed this initial goal, two years ahead of schedule. According to China's National Energy Administration, the country's overall capacity in the new-type energy storage sector reached 31.4 GW by the end of 2023.
How China is accelerating Advanced Energy Solutions deployments?
The country has become a global force in the acceleration of advanced energy solutions deployments. Here, we showcase the particular strides China is making in energy storage and clean hydrogen. China has been the leading force in accelerating advanced energy solutions deployments like energy storage and clean hydrogen.
What is a battery energy storage system?
A Battery Energy Storage System (BESS) secures electrical energy from renewable and non-renewable sources and collects and saves it in rechargeable batteries for use at a later date. When energy is needed, it is released from the BESS to power demand to lessen any disparity between energy demand and energy generation.
Is energy storage a new driving force for economic growth?
The sector is becoming a “new driving force” for economic growth, attracting over 100 billion yuan (about $13.9 billion) in investment since 2021, and driving further expansion of upstream and downstream industrial chains. This success prompted the government to raise its energy storage target by a third, to 40 GW, by 2025.