Jiangsu Salt Industry Group, the Institute of Engineering Thermo-physics of the Chinese Academy of Sciences, and China National Energy Storage Corporation signed a strategic cooperation agreement on Wednesday to jointly build the world’s first 400MW salt cave compressed air energy storage demonstration project.
This project is to promote the research and development and sharing of new technologies for comprehensive energy utilization to create a demonstration sample for green and low-carbon recycling development.
Relying on the advanced compressed air energy storage research and development results and technical strength of the Institute of Engineering Thermo-physics of the Chinese Academy of Sciences, the project will make use of Jiangsu Salt Industry Group’s high-quality salt cavern resources to build the world's largest and best-performing compressed air energy storage system, effectively promoting the industrialization of salt cavern compressed air energy storage technology.
About 2 billion yuan is expected to be invested in the project, with energy storage of 3 million cubic meters and annual power generation exceeding 1 billion kWh, which is equivalent to saving more than 1 million tons of standard coal.
Zhang Chaoyang, Chairman of Jiangsu Salt Industry Group
Ji Lv, General Manager of China National Energy Corporation
