The Wanhua Haiyang Green Power Industrial Park in Yantai, East China's Shandong province, held a ceremony on March 28 marking the start of operations for its Phase I project and the groundbreaking of Phase II, a move aimed at developing a globally competitive battery materials industrial cluster.

Located in Haiyang, Yantai, the project utilizes world-class lithium iron phosphate cathode material technology, delivering high energy density, an ultra-long cycle life, and enhanced safety for power batteries and energy storage. The facility has achieved mass production of fourth-generation battery materials, setting new benchmarks in energy density and system integration.

The products are in strong demand, with strategic partnerships already secured with key domestic and international clients. To facilitate local consumption of green power and address green trade barriers, the project is piloting green power trading and direct connections. Construction of Phase II is expected to be completed by the end of 2026.

A lithium iron phosphate project with an annual capacity of 650,000 metric tons is also under construction in Laizhou, a county-level city in Yantai, and is set to inject strong momentum into the city's new energy industry.

Yantai, a national pilot city for achieving peak carbon emissions, has developed a clean energy portfolio exceeding 700 billion yuan ($97.2 billion), with installed clean energy capacity surpassing 20 gigawatts. The city's extensive nuclear, wind, and solar resources provide a strong foundation for green power consumption, supporting projects like the Wanhua Haiyang and Laizhou parks in their efforts to leverage low-carbon electricity for the production of battery materials.

Yantai has developed a complete wind power industrial chain covering turbines, blades, and submarine cables, while in the battery sector, key projects include the Weichai-FinDreams New Energy Power Industrial Park and Wanhua's green power industrial parks in Haiyang and Laizhou. As these projects progress, core products are set to enter production, creating broad opportunities for expanded cooperation and application development in Yantai's new energy sector.