Wuling Power Generation Company Signs Investment Agreement for Taoyuan Pumped Storage Power Station Project

On April 21, 2022, the Government of Taoyuan County and Wuling Power Generation Company signed an investment agreement for Taoyuan Pumped Storage Power Station Project. Mr. Cao Zhiqiang, Secretary of Changde Municipal Party Committee, Mr. Zhou Zhenyu, Deputy Secretary of Changde Municipal Party Committee and Mayor of Changde City, Ms. Chen Hua, Vice Secretary of Changde Municipal Party Committee and Director of United Front Work Department of Changde Municipal Party Committee, Mr. Chen Zhangjie, Member of Standing Committee of Changde Municipal Party Committee and Deputy Mayor of Changde City, Mr. Pang Bo, Secretary of Taoyuan County Party Committee, Mr. Xia Gang, Chairman of Wuling Power Generation Company, and Mr. Liu Xingyi, GM of Wuling Power Generation Company, witnessed the signing of the agreement.

At the signing ceremony, Mr. Cao and Mr. Zhou expressed that Changde Municipal Party Committee and Municipal Government would fully support the construction of the project, and hoped that both sides would strengthen coordination and speed up the project, and at the same time actively communicate with the higher authorities for more support.

Mr. Pang introduced the project progress in detail, saying that the project was one of the largest projects in Changde during the "14th Five-Year Plan" period, and the largest project in Taoyuan's history. He said that Changde Municipal Party Committee and Municipal Government attached great importance to the project and had made special arrangements for many times. Also, Taoyuan County Party Committee and Government would give top priority to the project, and comprehensively promote activities in the feasibility study stage to achieve the goal of "completing feasibility study in 2022 and approving the commencement of construction at the end of 2022", with the full efforts, the best services and the best business environment.

Mr. Xia introduced the project progress and the development of new energy.

The project, with an installed capacity of 1,200 MW, is a major energy project introduced by Taoyuan County. The smooth progress of the project will further promote the implementation of the "3060" target, and be of great significance to promote the high-quality development of local society and Wuling Power Generation Company.