On August 9, Guangdong New Energy Company of China Resources Power and Gaoyao District in Zhaoqing City signed an investment cooperation framework agreement on the pumped storage power station project.

The planned investment for the project is RMB 5 billion, and the installed capacity will be 800MW. The annual mean output is estimated to be about RMB 600 million, and the annual tax payment is estimated to be about RMB 85 million or more.