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The State Grid Corporation established a pumped storage company in Mengyin, Shandong.
Ruisi Network News: On April 8th, Qichacha app showed that XinYuan Pumped Storage Co., Ltd. was recently established, with Nie Gang as the legal representative, and a registered capital of 723 million yuan. Its business scope includes hydroelectric power generation; power generation, transmission, and supply; power supply; installation, maintenance, and testing of transmission, power supply, and receiving electrical facilities. Qichacha’s equity penetration shows that the company is jointly held by State Grid XinYuan Holding Co., Ltd., a subsidiary of State Grid Corporation, and State Grid Shandong Electric Power Company, among others.