Binhua Co., Ltd. plans to invest 1.421 billion yuan in the construction of an integrated source-grid-load-storage project
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Binhua Co., Ltd. (601678.SH) issued a announcement stating that in order to make use of the extensive land resources as well as the abundant wind and solar energy resources in the Binzhou Beihai Economic Development Zone and Wudi County, so as to enable the local consumption of wind and solar energy, establish a diversified and intelligent energy supply and consumption system, create a model for the integrated development of \"new energy + chemicals\", and accelerate the company’s transition toward a green and low-carbon model of operation, the company plans to invest in the construction of the Binhua Group Beihai Binhua New Materials Integrated Project for energy generation, transmission, distribution, storage through its holding subsidiary, Shandong Binhua New Energy Co., Ltd. (referred to as \"Binhua New Energy\"). It includes a 160MW wind power plant and a 100MW photovoltaic power plant, along with an energy storage system of 130MW/260MWh, as well as an 110kV step-up substation (including a smart energy integrated dispatching and control center), with a total investment of 1.421 billion yuan.
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