A groundbreaking ceremony for a power system and energy storage equipment manufacturing plant, to be operated by Qihou (Jiangsu) Energy Technology Co Ltd, took place on May 2 in the Xinghua Economic Development Zone in Xinghua city, in East China's Jiangsu province.
Costing 1.52 billion yuan ($210.37 million), the project will construct production lines, research and development facilities, administrative buildings and other support buildings with a combined floor space of 100,000 square meters and will operate over 3,000 sets of automated and intelligent production equipment.
When completed, the complex will manufacture 300 prefabricated intelligent substations and 300 sets of prefabricated energy storage systems annually, generating annual revenue topping 1.6 billion yuan.
Compared with conventional substation construction plants, the prefabricated intelligent substations made by this facility will reduce the land area they occupy by more than 60 percent and construction costs by more than 40 percent.
Intelligent substations and power storage systems are regarded as being important infrastructure support for the development of new energy sources such as solar power and wind energy. Moreover, construction of the project is said to mark Taixing's breakthrough in the growth of emerging industries such as new energy.
An artist's rendering of the new power system and energy storage equipment manufacturing plant. [Photo/WeChat account: xinghuafabu]