GCL (002015): East China'S Largest Pumped Storage Power Station Project Approved

GCL energy technology (002015) announced on the evening of September 6 that Zhejiang Jiande pumped storage power station, a project invested by the company's holding subsidiary, was approved by Zhejiang Provincial Development and Reform Commission. It is reported that the project plans to build four 600000 kW pumped storage units with a total installed capacity of 2.4 million kilowatts, which is the largest pumped storage power station in East China. It is mainly responsible for peak load regulation, valley filling, energy storage, frequency modulation, phase modulation and emergency standby of East China Power grid. The company told the associated press that the project is of great significance to the company's deep participation in spot trading in the power market, expanding the scale of power sales, developing wind, solar and water storage, and regulating and replacing the grid load during peak operation.