New energy storage device factory in Zibo begins operations

An energy storage device production line in the Qilu Energy Storage Valley in Zibo, Shandong province, was put into operation on May 22.

The 8-billion-yuan ($1.15 billion) facility, which has an annual capacity of up to 20 GWh, will manufacture storage devices for major domestic power companies such as Huaneng Group and Huadian Corporation.

Despite its name, the valley is also known for its cutting-edge photovoltaic technology offerings. One of the notable companies here is a 33-billion-yuan photovoltaic facility that can produce photovoltaic modules with the highest power output in China. This facility is also known for being able to produce its products at the lowest cost per kilowatt hour.

As a key element in the city's green energy industry chain, Qilu Energy Storage Valley, together with over 50 enterprises specializing in photovoltaic, wind power and energy storage, form a relatively complete chain for Zibo's green industry.

A group of China's top players and research institutes in the energy sector have also launched projects in the valley. For example, three industrial parks have been built to gather more enterprises related to zero-carbon energy, solid state lithium battery, and advanced storage devices in Zibo.

"All the upstream and downstream chains are connected. This makes us more confident about the industry's prospects. We will have an output value of more than 200 billion yuan in three to five years," said Li Yiqun, chairman of a local energy company.