Weifang aims to build China's leading new energy storage hub
Weifang is taking bold steps to advance its clean energy ambitions with the launch of the New Energy Storage Industry Alliance on March 7. The inaugural meeting brings together 64 enterprises and institutions, including leading energy storage manufacturers, power station operators, universities, financial institutions, and renewable energy agencies. This initiative is expected to accelerate Weifang's transformation into a hub for green and low-carbon development.
Energy storage is at the heart of transitioning to a modern power system and plays a crucial role in the stable supply of renewable energy and grid efficiency. In recent years, Weifang has capitalized on emerging opportunities to rapidly expand its energy storage sector. The industry has seen remarkable growth, with more than 60 enterprises now operating in the city. In 2024, the sector generated 18 billion yuan ($2.5 billion) in revenue, marking a staggering 117.1 percent year-on-year increase.
Workers operate at an energy storage facility in Weifang. [Photo/WeChat account: wfgxqfb]
With the alliance in place, Weifang is set to strengthen innovation-driven development. The city will support collaboration between enterprises and research institutions to drive breakthroughs in cutting-edge energy storage technologies, including lithium-ion, sodium-ion, flywheel, and hydrogen storage. Plans are also in motion to expand the Weifang Industrial Technology Research Institute into energy storage and establish dedicated research and innovation centers.
Looking ahead, Weifang has ambitious targets for the industry. By 2025, the city aims to secure 80 billion yuan in investments, increase its installed energy storage capacity to over 1 million kilowatts, and reinforce the energy storage supply chain. Over the next three to five years, Weifang plans to cultivate two or three publicly listed energy storage enterprises and build a 30-billion-yuan industrial cluster. These efforts will position the city as a national leader in advanced energy storage solutions, contributing to China's broader push toward a future of sustainable energy.
