A compressed air energy storage (CAES) power station utilizing two underground salt caverns in Yingcheng City, central China's Hubei Province, was successfully connected to the grid at full capacity on Thursday, marking its official commencement of commercial operations. The project, also called Nengchu-1, utilizes the caverns of an abandoned salt mine, about 600 meters deep, as its gas storage facility. This approach creates a super "power bank" with a single unit power output of up to 300 megawatt, a storage capacity of 1,500 megawatt-hours, and an underground gas storage volume of 700,000 cubic meters, according to China Energy Engineering Corporation (CEEC), one of the project's major investors. The single unit power, energy storage capacity and conversion efficiency of this project, which broke ground in 2022, has set three world records among similar salt cavern CAES power plants, the company said. "Nengchu-1 stands out with ten features, including high power, large capacity, deep energy storage capacity, strong grid-forming capacity, and being complete green, reliable and safe. We have opened up a new track and path, and solved key technological bottlenecks as well. In the next step, we will make comprehensive plans focusing on higher efficiency, lower cost, larger-scale deployment, and broader application scenarios," said Song Hailiang, chairman of the CEEC. The principle of CAES in salt caverns is similar to that of conventional pumped storage power plants. During periods of low electricity demand, electrical energy is used to compress air and store it in underground salt caverns. The compressed air can then be released during periods of peak demand to generate electricity, experts explained. "After the CAES was put into use in Yingcheng, it can store energy for eight hours and release energy for five hours every day, with its conversion efficiency reaching almost 70 percent. It is estimated to generate an annual average of approximately 500 million kilowatt-hours of electricity, which can meet the annual power demand of 750,000 residents in Yingcheng," explained Yang Xuan, deputy chief engineer at Hubei Electric Power Dispatching and Control Center of State Grid. Utilizing the existing cavities not only mitigates geological hazards such as land subsidence and collapse in the salt mines, but also transforms the mined-out areas into valuable underground resources, said experts, thus effectively turning waste into treasure.
Song also poined out that the initiative will serve as a strong driving force for the construction of a new energy system and modern power grid in China, significantly aiding the country's transition toward a green, low-carbon future.
World's first 300-MW compressed air energy storage station fully operational in China
U.S. President Donald Trump said on Friday that he estimates a deal with Iran will be signed "in the next day or two."
Trump said in an interview with Israel's Channel 12 News that the United States and Iran will probably meet over the weekend to finalize a deal to end the war. "The Iranians want to meet and make a deal," he said.
He said "the naval blockade on Iran is helping to make a deal. I will not lift it until we make a deal," adding that "the biggest part of this deal is that it will make Israel safer. This deal is good for Israel."
According to the channel, one component of the deal under discussion is that the United States will release 20 billion U.S. dollars in frozen Iranian funds.
In exchange, Iran would give up its stockpile of enriched uranium, and would be only allowed to have nuclear research reactors to produce medical isotopes, all above ground.
Trump also stressed that Israel must stop the strikes on Lebanon, saying, "They can't keep blowing up buildings. I'm not going to allow that."
Also on Friday, Trump said in a phone interview with Bloomberg that a deal to end the U.S.-Israeli war with Iran is mostly complete as talks over a lasting peace deal will "probably" be held this weekend in Pakistan.
Trump said in the phone interview that Iran agreed to suspend its nuclear program indefinitely, and will not receive any frozen funds from the United States.
"Most of the main points are finalized. It'll go pretty quickly," Trump said.
Asked if he would travel to Pakistan to sign the potential deal, Trump said: "I may."
Trump again denied that the moratorium on Iran's nuclear program would expire after 20 years. "No years, unlimited," Trump said.
The United States will get all of Iran's nuclear "dust" with no money having exchanged hands "in any way, shape, or form," Trump wrote on social media earlier on Friday. Multiple Western media outlets have interpreted Trump's reference to nuclear "dust" as meaning Iran's stockpile of enriched uranium.
Iran has yet to comment on any deal beyond the reopening of the Strait of Hormuz, nor on claims made by Trump that Tehran had offered concessions, including over the key issue of its nuclear program.
If the United States continues its naval blockade of the Strait of Hormuz, Iran will consider it a violation of the ceasefire between the two countries and will close the waterway, the semi-official Tasnim news agency reported Friday, citing an informed source close to the Supreme National Security Council.
The Iranian side has yet to respond to the media report on the enriched uranium issue.
The United States and Iran had their first round of negotiations in Pakistan's Islamabad last weekend to ease tension in the Middle East. The talks, which failed to produce an agreement, took place after a ceasefire was announced on April 8 between Iran, the United States, and Israel, following 40 days of fighting.
Iran tightened control over the Strait of Hormuz after the United States and Israel launched joint attacks on the country on Feb. 28. The United States also imposed a naval blockade on the strait following the failed negotiations in Islamabad.
Earlier on Friday, both Washington and Tehran confirmed that the strait had been completely open for all commercial vessels. However, Trump said on Truth Social that the U.S. naval blockade would "remain in full force." In response, Iran warned of closing the waterway again if the U.S. blockade continues.
Trump says may sign deal with Iran "in the next day or two": Israeli media
Trump claims peace deal with Iran mostly complete: report
