BEIJING: China Energy Investment Corporation said on Monday China’s National Development and Reform Commission in Qinghai province has approved a hydro power plant worth 17 billion yuan ($2.46 billion) on Dec. 30 in the province.

The plant is a so-called pumped storage hydropower facility that is used to pump water from a lower reservoir to an upper reservoir during periods of high electrical demand.

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The plant will start full production in 2028.