China Tianying signed a cooperation framework agreement for the Wenzhou mountain-type gravity energy storage project

In order to fully serve the implementation of the national "3060" strategy and the goal of building a new power system, and to strengthen the cooperation among all parties in the fields of new energy development and consumption, large-scale construction of shared energy storage, source-grid-load-storage integration, new flexible regulation resources and technologies under the background of the new power system, Jiangsu Nengying New Energy Technology Development Co., Ltd. (hereinafter referred to as "Jiangsu Nengying" or "Party B"), a wholly-owned subsidiary of China Tianying Co., Ltd. (hereinafter referred to as the "Company"), recently reached an agreement with Guoneng (Zhejiang Wenzhou) Energy Co., Ltd. (hereinafter referred to as "Party A"), State Grid Zhejiang Electric Power Co., Ltd. Wenzhou Power Supply Company (hereinafter referred to as "Party C") and State Grid Zhejiang Electric Power Co., Ltd. Electric Power Research Institute (hereinafter referred to as "Party D") on the principle of "complementing each other's strengths, sharing resources and win-win development" on the efficient and pragmatic development of the Wenzhou Mountain Gravity Energy Storage Project Cooperation, and jointly signed the "Wenzhou Mountain Gravity Energy Storage Project Cooperation Framework Agreement" (hereinafter referred to as the "Agreement" or "this Agreement").

Main contents of the agreement

1. Cooperation content: In view of the insufficient regulation capacity of Wenzhou power grid and the problems of insufficient reliability and flexibility of distributed new energy, the four parties will jointly promote the implementation of Wenzhou mountain gravity energy storage project, solve the market mechanism, grid connection, regulation optimization, maintenance coordination and other issues of new flexible resources or entities, apply the key technologies developed, and achieve economic and technological demonstration effects.

2. Expected results: Construction of a 15MW/60MWh mountain-type gravity energy storage power station with an estimated total investment of RMB 348 million. Innovative design schemes for structures and dynamic mechanisms will be implemented, intelligent algorithms will be optimized, and grid-connected characteristics will be improved. The overall project results will reach internationally advanced or higher levels.

3. Cooperation model: Party A is responsible for the investment in the mountain-type gravity energy storage project; Party B actively participates in providing the implementation plan design, scientific and technological project application, research and development and related procurement, and implementation of scientific and technological achievements for the mountain-type gravity energy storage project, and actively participates in the general contracting of the entire process of design, procurement, and construction of the mountain-type gravity energy storage project (under the same conditions, Party B shall be given priority in general contracting); Party C actively assists Party A and Party B in promoting the project system access and grid connection, and assists Party A in improving the project's call time under the premise of obeying the unified dispatch of the power grid; Party D is responsible for the grid-related testing, vibration adjustment, energy management, and debugging support of the gravity energy storage project.

4. This agreement is a framework cooperation agreement. This agreement is the general cooperation principle of the four parties. The four parties unanimously agree that for the cooperation matters related to specific projects, the four parties (including the affiliated companies designated by the four parties) will sign a specific agreement separately on the basis of the relevant terms of this agreement to clarify them.

5. The cooperation period of this agreement is five years, starting from the date of signing of this agreement.