Liangjiang to establish new power system industrial base

The State Grid Corporation of China signed an agreement on July 24 to establish a new power system industrial base in Chongqing Liangjiang New Area.

This initiative is a key part of China's "dual carbon" goals, with the State Grid leading collaborative innovation and coordinated development across the modern power systems industry chain.

The project aims to integrate technological, financial, and market strengths to create a leading power system industrial base and a high-quality, green, low-carbon industrial park. This development will contribute to optimizing and upgrading Chongqing's industrial structure.

The industrial park will consolidate resources from various sectors, focusing on crucial technologies across the entire power industry chain, including energy storage technology, smart sensors, power electronics, new power materials, and power equipment.

The objective is to establish an industrial research center and attract supporting enterprises along the industry chain, building a comprehensive "R&D-incubation-testing-production" ecosystem.

The park will encourage resident enterprises to concentrate on areas such as new power construction equipment, new energy storage materials, and electrical instruments, fostering the growth of new power systems and new energy industries.

Several power system companies, including Wansheng Instruments and Jintong Robotics, have set up operations in the industrial park. Wansheng Instruments plans to invest 350 million yuan ($48.66 million) to achieve domestic substitution in the high-precision electric meter sector at substations, with production already underway.