Monday, 2024 June 17

CDHT allies with Sinopec Green Energy to drive new energy innovation in China

On May 21, the Chengdu Hi-tech Industrial Development Zone (CDHT) inked a cooperation agreement with Sinopec Green Energy Geothermal Energy Development. Under this agreement, Sinopec Green Energy will establish its regional headquarters for southwestern China in the zone and develop various new energy application scenarios.

Sinopec Green Energy,  a joint venture between Sinopec Star and Iceland’s Arctic Green Energy, is primarily dedicated to harnessing clean energy sources like geothermal, wind energy, photovoltaics, hydrogen energy, and the provision of energy storage solutions. The company has developed clean energy heating and cooling projects spanning over 100 million square meters, making it one of China’s largest professional companies in medium-depth geothermal energy development and utilization.

A representative from CDHT’s Science and Technology Innovation Bureau said that both parties will explore collaboration in areas such as regional centralized energy supply, intelligent operation management, and energy storage. The goal is to diversify energy supply, advance the energy industry, and improve energy governance.

Moreover, CDHT has expressed its commitment to leverage its expertise and explore new cooperation opportunities with Sinopec Green Energy in areas such as smart energy systems and energy storage chip R&D, thereby strengthening its ecosystem.

Chengdu Future Science and Technology City

In line with China’s broader efforts to optimize its energy structure and promote green, sustainable development, the Sichuan Province has recently called for the accelerated planning and construction of new energy systems. This includes the integrated development of hydro, wind, solar, hydrogen, and natural gas solutions. CDHT is actively responding to national and provincial directives on peak carbon dioxide emissions and carbon neutrality by continuously optimizing its regional energy structure accordingly and initiating new energy demonstration projects.

Last year, the first virtual power plant in western China went live in CDHT. Virtual power plants aggregate and optimize basic resources such as distributed power sources, energy storage, charging piles, and industrial adjustable loads through advanced information communication and digital technology. 147 major companies such as BOE, Texas Instruments, and Huawei have connected to the virtual power plant in CDHT, contributing a flexible adjustable load of about 54 megawatts.

Aerial view of Chengdu IC Design Industrial Park. Photo source of this article: Chengdu Hi-tech Industrial Development Zone

In addition, the Chengdu IC Design Industrial Park in CDHT has developed a comprehensive project combining its photovoltaic and energy storage capabilities, which is expected to generate approximately 268,600 kWh of electricity annually. This project is projected to replace around 107.46 tons of standard coal per year, reducing carbon emissions by 267.84 tons, setting a benchmark for the industry.

The CDHT has also been proactive in fostering the new energy industry through institutional and policy measures. It has issued the nation’s first “flexible load management measures” based on power load management, encouraging orderly power usage and active participation in regional flexible load management. Additionally, it is advancing the formulation of subsidy policies for the construction of photovoltaic, energy storage, and new energy projects to attract investment and drive regional new energy developments.

Looking ahead, the CDHT plans to intensify its support for innovation in the new energy industry, encouraging more enterprises to participate. Through policy incentives, resource integration, and talent cultivation, the zone aims to develop exemplary clean energy projects, solidifying its position in the new energy sector.

36Kr Global Writers
36Kr Global Writers
The tech ecosystem is roaring. Unicorns valued at billions of dollars have emerged worldwide, while venture capital and strategic investors are constantly on the lookout for the next big thing. 36Kr Global is committed to establishing ties between global stakeholders and providing the most vital information about China’s tech scene and capital markets.

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