Haiyang Energy Storage Power Station Participates in Power Spot Market

On February 27, 2022, with the "Submitted successfully" sign popping up on the Shandong power trading platform, SPIC's 101 MW/202 MWh energy storage power station in Haiyang successfully completed the day-ahead transaction in the Shandong power spot market, as one of China's first independent energy storage power stations participating in the power spot market.

For the transaction, Haiyang Energy Storage Power Station adopted the independently developed decision-making system for energy storage spot transaction, developed next-day charging and discharging strategies through tariff prediction, and participated in the spot market through self-dispatching mode. The participation of independent energy storage in spot transaction is to promote the development of energy storage through a market-oriented approach, thus effectively promoting the consumption of new energy and providing strong support for the construction of a new power system with new energy as the mainstay.

As one of the first peaking energy storage demonstration projects in Shandong Province, the project commenced its construction on August 25, 2021, and was put into operation on December 27, 2021, becoming the first independent energy storage power station registered in the market in Shandong Province on February 24, 2022. The project has a capacity of 202 MWh, with its stored clean electricity meeting the electricity consumption of 1,000 households for a month, and can accommodate 100 GWh of renewable electricity annually, effectively improving the comprehensive utilization of new energy and creating a new win-win model of "renewable power station + energy storage power station".