Enterprises that "sell salt" are deploying energy storage across borders.
On January 4, Su Yanjingshen announced that it plans to establish a joint venture with Guoxin Group and Huai'an Industrial Investment to jointly build a compressed air energy storage project. The project plans to build two sets of 250MW compressed air energy storage units, with a total energy storage capacity of 2250MWh and a total planned investment of about 3.57 billion yuan.
According to the data, compressed air energy storage refers to the energy storage method in which electric energy is used for compressed air during the trough period of the grid load, and compressed air is released to promote steam turbine power generation during the peak load period of the power grid. Salt cavern compressed air energy storage has the advantages of large capacity, long life and economy.
After the announcement, Su Yanjing Shenfang Fortune Stock Bar ranked more than 1,700 places higher than the previous day.
Source: Oriental Fortune
As of the close of trading on January 4, Su Yanjingshen's share price was 8.72 yuan per share, with a total market value of about 6.8 billion yuan.
Source: Wind
Hand in hand with state-owned enterprises
According to the announcement, in order to actively respond to the national strategic plan for building a new power system and accelerate the demonstration and application of new energy storage, Su Yanjingshen plans to jointly invest in the establishment of a joint venture with Guoxin Group (full name "Jiangsu Guoxin Group Co., Ltd.") and Huai'an Industrial Investment Co., Ltd. (full name "Huai'an Industrial Investment Co., Ltd.") to make full use of their respective resources and advantages to cooperate in the construction of compressed air energy storage projects.
The project plans to build two sets of 250MW compressed air energy storage units, with a total energy storage capacity of 2250MWh and a total planned investment of about 3.57 billion yuan. The registered capital of the joint venture company is 35% of the total planned investment, which is 1.25 billion yuan, of which Guoxin Group will contribute 750 million yuan, accounting for 60% of the registered capital, Su Yanjingshen will invest 425 million yuan, accounting for 34% of the registered capital, and Huai'an Industrial Investment will invest 75 million yuan, accounting for 6% of the registered capital.
According to the announcement, the controlling shareholder of Guoxin Group is the Jiangsu Provincial People's Government, and the company will achieve operating income of 58 billion yuan and net profit of 7.49 billion yuan in 2022. Huai'an Industrial Investment will achieve an operating income of 20 million yuan and a net profit of 80 million yuan in 2022.
Su Yanjingshen said that the company's foreign investment in the establishment of a joint venture company is in line with the national strategic plan for the development of a new power system, and is of great strategic significance for promoting the company's "salt + energy storage" industry construction, and the implementation of the project is conducive to giving full play to the resource synergy effect of all parties involved in the joint venture and has a positive effect on the company's industrial development.
Vigorously develop salt cavern energy storage
According to the semi-annual report, Su Yanjingshen is mainly engaged in the mining of salt mines, the production and sales of salt and salt chemical products. The main products include table salt, two-alkali industrial salt, small industrial salt and soda ash.
In the first three quarters of 2023, the company's operating income and net profit both declined. The company's operating income was 4.185 billion yuan, down 6.37% year-on-year, and the net profit attributable to the parent company was 544 million yuan, down 21.45% year-on-year. Su Yanjingshen said that due to the year-on-year decline in the sales prices of the main products such as salt, soda ash and calcium chloride, the net profit attributable to the parent company in the third quarter fell by 34% year-on-year.
However, at present, Su Yanjingshen is actively building a new pattern of "salt + energy storage" industrial development, and in-depth building two chains: "saline-alkali calcium circular economy industrial chain" and "salt cavity energy storage industrial chain".
According to the data, compressed air energy storage refers to the energy storage method in which electric energy is used for compressed air during the trough period of the grid load, and compressed air is released to promote steam turbine power generation during the peak load period of the power grid. Salt cavern compressed air energy storage is a large-capacity physical energy storage technology that uses underground salt cavern gas storage, which has the advantages of large capacity, long life and economy.
Su Yanjingshen once said at the performance briefing that the salt cavern energy storage business is a new profit growth point developed by the company after years of technology accumulation and with the help of the technical strength of the Chinese Academy of Sciences, and the salt cavern energy storage business has mature and wide applications in developed countries, and he is confident that the salt cavern energy storage business will develop into the company's new main business.
Reviewer: Xiong Yonghong Editor: Wang Yin Producer: Zhang Nan Signed: Fei Yangsheng