During the visit to Zhangye on March 12th, CNTY delegation, led by Chairman Yan Shengjun, reached a strategic cooperation framework agreement with the Zhangye Municipal People’s Government and the Energy Investment Professional Committee (EIPC) of the Investment Association of China (IAC) on further promoting the CNTY Gravity Energy Storage System (GESS) Project, the integrated project combining wind and solar power, energy storage, and production of hydrogen, ammonia and methanol, and the zero-carbon industrial park, among others in Zhangye.

Before the signing ceremony, Chairman Yan Shengjun visited the site of the Zhangye GESS Project (Phase I). With the world's highest designed height so far, this self-built high-elevation GESS facility started construction in May 2023, with three underground floors and one above-ground floor of its main structure completed before the past Chinese Spring Festival. The Project is expected to start operation by the end of 2024, serving the Northwest Power Grid and various new energy projects locally. Led by the municipal government, and with the efforts from various parties, the Project has been listed as the National Pilot Demo Project for New Forms of Energy Storage.

Group Photo

The signing ceremony was chaired by Deputy Secretary of the Zhangye Municipal Party Committee and Mayor Zhao Lixiang, and attended by key leaders and persons-in-charge from the Municipal Government and relevant departments at the county and district level, as well as EIPC Vice President Zhang Jie, among others.

Signing Ceremony

At the ceremony, Chairman Yan Shengjun commended Zhangye's achievements in high-quality economic and social development, and the great vision of the Municipal Government for new energy. He stressed that, relying on its independently developed industry-leading intelligent energy management system, and its accumulated technologies across the entire chain from new energy power generation, energy storage to hydro-chemical products, CNTY is confident, and also determined, to set up a model project integrating wind and solar power, energy storage, and hydrogen-ammonia-methanol, and to catalyze a number of high-value and refined chemical products based on green methanol, so as to boost the local consumption of wind and solar power and energy transformation.

EIPC Vice President Zhang Jie affirmed CNTY's advanced GESS technologies and top-notch on-site construction management. He emphasized the extensive potential market for high-value green energy products against the backdrop of new energy development, and stated that EIPC will leverage on its advantages in platforms, resources and services to facilitate the early completion of the Project.

Mayor Zhao Lixiang recognized CNTY's fruitful results since the Zhangye GESS Project. The signing of this Agreement, as he said, is highly in line with Zhangye's industrial development. This will effectively boost the storage efficiency of local new energy projects, ensuing more sustainable and guaranteed local conversion and utilization of renewable energy, and greatly advance the construction of the Green Hydrogen Production and Integrated Utilization Demo Zone in Zhangye. To provide further support, a special government working group will be set up that covers the full chain, full cycle, and full elements, so as to see operational results of the Project at the earliest.

CNTY will keep up the momentum based on this strategic cooperation, to expand its new energy business deployment in Northwest China, and amplify the carbon-reducing value of the GESS and wind-solar-hydrogen-ammonia-methanol integrated project, to inject strong impetus both for its own leapfrog development, and the high-quality economic and social development in Zhangye!