The China Resources Dali Zaoyang Wind Power Vanadium Flow Battery Industrial Park project started construction on December 15, 2022, jointly invested and built by China Resources Power New Energy Investment Co., Ltd. and Dali Electric Xiangyang Co., Ltd. The total investment of the project is 10.9 billion yuan, covering an area of 390 acres, and constructing a 1 million kilowatt wind power, 2GWh vanadium electrolyte, and 200MW/400MWh vanadium flow battery energy storage power station. Among them, the first phase includes the construction of a 500MW wind power, a 200MWh vanadium battery energy storage demonstration project, and an annual production of 60000 cubic meters of electrolyte production project. Among them, the 200MW/400MWh vanadium battery energy storage power station project and the 2GWh annual vanadium electrolyte project invested and constructed by Dali Electric Power have a planned final construction land area of approximately 190 acres. According to the plan, the project will be completed and put into operation in 2026. After completion, the project can provide about 220 million kWh of clean energy generation per year, reduce the combustion of 588000 tons of standard coal, and reduce a large amount of emissions of smoke, carbon oxides, nitrogen oxides, and sulfur oxides, playing a good role in environmental protection and helping to achieve the national "dual carbon" strategic goals! On August 26, 2023, the main construction of the first phase of the China Resources Dali all vanadium flow battery energy storage power station project began. The project is located on the southwest side of the intersection of Fuxing Avenue and Xihuan Third Road, covering an area of about 60 acres. The first phase of construction has a capacity of 50MW/100MWh, with a reserved construction site for the second phase of 50MW, and a supporting 110kV substation will be built. This project has been included as a key industrial project in the 2024 government work report of Hubei Province and Xiangyang City. Since the implementation of the project in Zaoyang, the local government departments have actively cooperated with the pre project procedures, various evaluations, construction, equipment entry and other work. The procedures such as land certificates, construction project planning permits, and construction permits have been efficiently processed, and the "filling in after filling in" system has been followed to help improve the efficiency of project construction. In November 2024, it was announced that the energy storage demonstration power station project in the industrial park had completed the main project acceptance and was approved to be connected to the power grid. It is expected to be completed and connected to the grid by the end of May 2025; The infrastructure construction of the electrolyte project has been completed by 90%, and the equipment installation has been completed by 55%. It is expected to be fully completed and put into operation by the end of February 2025.

It is reported that Dali Energy Storage, founded in 2022 and with a development history of less than 2 years, has over 16 years of deep cultivation and accumulation in the field of vanadium batteries, all of which are attributed to its parent company Dali Electric. As one of the investment and construction parties of the Huarun Dali Zaoyang Wind Power Vanadium Flow Battery Industrial Park project, Dali Electric is a leading player in the field of soft start technology in China and one of the earliest enterprises to enter the vanadium battery track. Its Vanadium Battery Technology Research Institute, founded in 2008, is the predecessor of today's Dali Energy Storage. Over ten years of deep cultivation and accumulation have enabled this seemingly young but deeply rooted enterprise to quickly open up its market position. As of now, it has complete independent intellectual property rights and high-end equipment manufacturing capabilities for vanadium batteries. It has undertaken 7 national, provincial, and municipal special plans for vanadium battery energy storage technology and participated in the formulation of 3 national standards; Worldwide, Dali Energy Storage has implemented nearly 20 vanadium battery energy storage system demonstration projects in India, Singapore, and multiple domestic locations. Its electrolyte is also exported to countries such as South Korea and the United States.