Target Information

Megawatt Cloud, a virtual power plant solution provider, has successfully completed its Series A financing round, which was led by the State Power Investment Corporation (SPIC) and Kunlun Capital. The company's mission aligns with China's dual carbon goals and the development of a new power system where the share of renewable energy sources such as solar and wind is continually increasing, creating challenges related to grid stability. The innovative virtual power plant technology leverages digital platforms to unify and manage electricity consumption from various industrial and commercial users, effectively transforming these users into a collective "virtual power plant" capable of participating in electricity markets. Founded in 2021 by young scientists and engineers from Tsinghua University's Electrical Engineering Department, Megawatt Cloud has established itself as a leader in this industry with a load capacity exceeding 9 GW, marking its position among the top tier of national operators in terms of scale and coverage.

In an interview with CCTV on October 22, 2022, SPIC Chairman Qian Zhimin articulated the concept of