Fujian Funeng (600483.SH): Fujian Nan'an Pumped Storage Power Station Project receives approval.

Fujian Funeng (600483.SH) has announced that its subsidiary, Fujian Dongtian Pumped Storage Energy Co., Ltd., has received the approval from the Fujian Development and Reform Commission for the construction of the Nan'an Pumped Storage Power Station project in Fujian Province. The project aims to promote energy structure adjustment, build a new type of power system, alleviate peak load problems in the Fujian power grid, and improve the economic and reliable operation of the power grid. The project will include the construction of 4 units of 300,000 kilowatt reversible pump-turbine generator sets, with a total installed capacity of 1.2 million kilowatts. The key components of the station include upper and lower reservoirs, underground powerhouses, and water conveyance systems. The total investment for the project is 8.01943 billion yuan, with 20% of the investment coming from capital funds.