Industry News | Establishment of State Grid Pumped Storage New Company on March 20, 2026

On March 20, 2026, Xinyuan (Mengyin) Pumped Storage Co., Ltd. completed its business registration, marking the official launch of the Mengyin Huapingling Pumped Storage Power Station.

Installed Capacity: 1.2 million kilowatts (4 units)

Total Investment: 8.244 billion yuan

Planned Positioning: Key project in Shandong Province's "14th Five-Year Plan" for medium- and long-term pumped storage, Key national project under the "14th Five-Year Plan"

Construction Location: Duozhuang Town, Mengyin County, Linyi City, Shandong Province

Project Legal Entity: Xinyuan (Mengyin) Pumped Storage Co., Ltd. (jointly held by State Grid Shandong Electric Power Company, State Grid Xinyuan Holdings, China Resources Power, etc.)

Expected Completion: 2031

Strategic Significance of the Mengyin Project:

1. It is the first new project launched after the restructuring of State Grid's pumped storage framework, validating the efficiency of the new organizational model.

2. It marks the accelerated development phase of State Grid's pumped storage business.

3. As a core regulation power source in the Lunan load center, it supports the construction of the new type of power system in Shandong Province.

Image 'Source' Baidu Encyclopedia Shandong Mengyin Duozhuang Pumped Storage Power Station entry gallery