Through analysis of risk factors during the investment

construction and operation phases of pumped-storage hydropower project

the investment risk assessment results are obtained. Under the con_ ditions of diversified investment subjects

complicated investment environment and electricity marketiza_ tion

large-scale pumped-storage hydropower projects are superior in terms of comprehensive cost and service capability

and there is no negative or unacceptable investment risk in the foreseeable future. Moreover

the investment risk is controllable.