Review of National Pumped Storage Project Bidding in the First Quarter of 2026: Million-Kilowatt Projects Are Being Launched Int

2026: The Opening Year of the 15th Five-Year Plan Sees Accelerated Construction of Pumped Storage Power Stations in China

In 2026, the opening year of the 15th Five-Year Plan, the construction of pumped storage power stations in China has continued to accelerate. During the first quarter, numerous multi-million-kilowatt pumped storage projects across the country completed the tendering of their main civil works, and several key contract sections announced their bid award announcements, marking the accelerated implementation phase of project construction. Leveraging technical expertise and engineering experience, multiple engineering bureaus under PowerChina secured core contract sections, becoming the main force in the pumped storage construction market in Q1.

I. Centralized Tendering of Core Projects, Multi-Million-Kilowatt Units Become Mainstream

In Q1, the winning pumped storage bids were dominated by large-scale backbone power stations, with installed capacities mostly in the multi-million-kilowatt range, covering multiple provinces including Henan, Shanxi, Anhui, Fujian, and Hebei. These projects involve massive investments and tight construction schedules, contributing to enhanced regional power grid peak shaving, renewable energy integration, and energy supply security.

Key Awarded Projects for Main Civil Works:

The Henan Gongyi Housihe Pumped Storage Power Station (1,200 MW) , a key project under the Three Gorges Group, awarded two consecutive bids in Q1 with a total value exceeding RMB 2.1 billion. According to bid award announcements released on January 30, the contract section for the water conveyance and power generation system, lower reservoir civil works and metal structure installation was awarded to Sinohydro Bureau 5 for RMB 1.324 billion. The contract section for the upper reservoir civil works and metal structure installation was awarded to Sinohydro Bureau 11 for RMB 785 million. The project plans to commission its first unit by the end of 2029 and achieve full completion by 2030.

The Shanxi Huadian Pu County Pumped Storage Power Station (1,200 MW) , a key national energy project during the 14th Five-Year Plan and the world's first pumped storage project to adopt full-reservoir basin asphalt concrete anti-seepage technology, has attracted significant industry attention. On March 13, the civil works and metal structure installation for the upper and lower reservoirs were awarded to Sinohydro Bureau 11 for RMB 1.341 billion. The project is scheduled to be completed and generate power by 2030, further addressing the regulatory capacity gaps in the North China regional power grid.

During the same period, other pumped storage projects such as Anhui Ningguo Longtan, Fujian Dehua, and Hebei Qianxi also completed the awarding of key contract sections. On January 21, the water conveyance and power generation system works of the Anhui Ningguo Longtan Pumped Storage Project were awarded to Sinohydro Bureau 6 for RMB 738 million. On the same day, the Upper Reservoir C1 section of the Fujian Dehua Pumped Storage Project was awarded to Sinohydro Bureau 8 for RMB 846 million. This project is also the first approved and commenced pumped storage project in Quanzhou City. On February 24, the winning bid for the water conveyance and power generation system works of the Hebei Qianxi Pumped Storage Project was announced, with Sinohydro Bureau 3 securing the section for RMB 775 million, supporting the energy structure optimization of the Beijing-Tianjin-Hebei region.

II. Steady Progress in Auxiliary Works, Participation of Diverse Entities

In addition to the main civil works sections, tendering for auxiliary and support works of pumped storage projects also proceeded in an orderly manner in Q1, attracting the participation of various entities including China Railway and local construction enterprises, forming a construction pattern dominated by leading enterprises and supported by specialized teams.

The Ningxia Niushoushan and Niushoushankou Pumped Storage Spoil Area EPC Project was awarded to a consortium comprising China Railway 14th Bureau, Ningxia Water Resources and Hydropower Bureau, and Northwest Engineering Corporation for RMB 13.97 million. The Anhui Jixi Jiapeng Pumped Storage Upper Reservoir Construction C1 Section was awarded to a consortium of Yunnan Construction and Investment First Hydropower and China Railway 4th Bureau, marking a breakthrough for the China Railway system in the field of major pumped storage dam projects. The Zhejiang Yongjia Pumped Storage Ground Switchyard and Underground Plant Decoration Project was awarded to Yunnan Hydropower 14th Bureau Donghua Construction for RMB 36.745 million, advancing the subsequent completion and supporting construction of the project.

III. Clear Market Landscape, Positive Industry Development Trend

From the perspective of the Q1 bid award landscape, PowerChina-affiliated entities continue to hold an absolutely dominant position, with Sinohydro Bureaus 3, 5, 6, 8, and 11 securing all major main civil works contract sections. Leveraging mature construction technologies, comprehensive project management systems, and rich experience in pumped storage construction, they have firmly maintained their core market share. Single-section bid values are mostly concentrated in the RMB 0.7-1.4 billion range, indicating high investment intensity and rapid construction pace.

In terms of regional distribution, the awarded projects are concentrated in the central-eastern and northern regions of China, aligning with the national medium- and long-term development plan for pumped storage, primarily serving the grid regulation needs of renewable energy-rich areas and load centers. As these projects commence construction, they will further improve China's pumped storage power station network, enhance the flexible regulation capacity of the power system, and support the construction of a new-type power system.

Looking ahead, as more pumped storage projects are approved and commenced, the industry is expected to maintain its robust momentum in Q2. Upstream and downstream industrial chains, including engineering construction and equipment manufacturing, will continue to benefit, promoting the high-quality development of the pumped storage industry.