Peninsula South #3 Wind Farm Achieves China's First Integrated Offshore Wind and Energy Storage Power Transaction

At 11:32 on June 1, 2023, the Peninsula South Energy Storage Station, owned by SPIC Shandong Energy Development Co., Ltd., completed the day-ahead declaration, integrating with offshore wind power for spot power transaction in Shandong Province. The declaration, as China's first integrated offshore wind and energy storage power transaction, marks the entry of SPIC's energy storage power transaction into a new stage.

The energy storage station supports the Peninsula South #3 Offshore Wind Farm, with an installed capacity of 15 MW/30 MWh. Without integrated transaction, the energy storage station could not achieve self-scheduling operation with less charging and discharging times, the charged and discharged energy prices could not respond to the spot market price with poor operating efficiency and economy, and the station could not effectively play the role of peak cut or optimize market allocation.

With integrated transaction, the two projects will participate in spot transaction as a whole, and the charged and discharged energy can be priced on the basis of the market, with scientific scheduling of charging and discharging to effectively improve the utilization of energy storage.

In the preparation stage, the marketing company cooperated with the offshore wind power company and relevant policy-making units to study and improve the relevant programs. The integrated transaction of offshore wind power and energy storage power will realize charging while the new energy power is relatively cheap and discharging while the feed-in tariff is relatively high, further reduce the forecast deviation of the wind power generation curve, improve the utilization of energy storage, effectively revitalize the energy storage resources, and ensure the power supply-demand balance and the smooth operation of power supply systems throughout the province.

SPIC Shandong Energy Development Co., Ltd. will continue to give full play to the characteristic advantages of the marketing company, explore the value of energy storage, take multiple measures to increase the revenue of energy storage, and provide important support to promote the construction of new energy supply and consumption systems and the green, low-carbon and high-quality development.