Events
On March 21, 2022, the Shanghai Composite Index closed at 325369 points, up 0.08%; Shenzhen composite index closed at 1237964 points, up 0.41%; The power sector index closed at 304728 points, down 0.45%. Among them, the top three companies in the photovoltaic power generation sector are: Zhejiang Provincial New Energy Investment Group Co.Ltd(600032) ( Zhejiang Provincial New Energy Investment Group Co.Ltd(600032) . Sh, 2.14%), Tunghsu Azure Renewable Energy Co.Ltd(000040) ( Tunghsu Azure Renewable Energy Co.Ltd(000040) . SZ, 1.57%), Jiawei Renewable Energy Co.Ltd(300317) ( Jiawei Renewable Energy Co.Ltd(300317) . SZ, 1.25%). The top three companies in the thermal power sector are: Henan Yuneng Holdings Co.Ltd(001896) ( Henan Yuneng Holdings Co.Ltd(001896) . SZ, 4.55%), Datang Huayin Electric Power Co.Ltd(600744) ( Datang Huayin Electric Power Co.Ltd(600744) . Sh, 4.25%), Chn Energy Changyuan Electric Power Co.Ltd(000966) ( Chn Energy Changyuan Electric Power Co.Ltd(000966) . SZ, 2.08%).
Comments
Recently, the Tianjin Development and Reform Commission issued the 14th five year plan for energy development in Tianjin. The document pointed out that we should vigorously expand high-quality coal sources, improve the proportion of medium and long-term contract signing of coal power enterprises, encourage industrial coal enterprises to strengthen strategic cooperation with upstream coal supply enterprises, and ensure the sustainable and stable supply of coal. Improve the power supply level, optimize the local power supply structure, stabilize the installed scale of coal-fired power, and strive to expand the installed capacity of clean energy such as natural gas and renewable energy. By 2025, the installed capacity of coal power in the city will be controlled within 12.5 million KW, and the installed capacity of clean energy will exceed 13 million KW. Since 2021, the sharp rise in coal prices has led to serious losses for thermal power enterprises. Increasing the proportion of medium and long-term contracts signed by coal and power enterprises will help stabilize operating costs and avoid operating risks caused by sharp fluctuations in coal prices. In addition, the energy supply guarantee capacity will be further enhanced under the deterministic installation target of new energy. We continue to be optimistic about relevant enterprises that actively layout in the field of wind power and photovoltaic.
Industry dynamics
1. The 100000 kW multi energy complementary photovoltaic power generation project of CEC shenfa power was officially started in Fenghuang village, Fenghuang Town, Pinglu, Shuozhou City, Shanxi Province. The project is located in Fenghuang Town, Pinglu District, Shuozhou City, northern Shanxi Province. After the completion of the project, the annual average on grid power will be 160 million kwh. (Polaris power grid)
2. The first 220 kV Substation in Qingshen county and the first 220 kV intelligent substation of State Grid Meishan power supply company during the 14th Five Year Plan period were officially put into operation. Greatly optimize the power grid structure in the southern area of Meishan, shorten the power supply radius of the power grid, reduce line loss, and improve the power supply capacity and transmission capacity of Meishan power grid. (Sichuan online)
Company dynamics
Jilin Electric Power Co.Ltd(000875) ( Jilin Electric Power Co.Ltd(000875) ): Lin Electric Power Co., Ltd. will publicly issue green corporate bonds (phase I) to professional investors in 2022, with an issuance scale of no more than 1.5 billion yuan and a term of 5 years, without a term including rights. The issuing price is 100 yuan each, and the placement is made through inquiry from professional institutional investors under the Internet. The bonds will be issued from March 17, 2022 to March 18, 2022, with a final issuance scale of 1 billion yuan and a coupon rate of 3.80%. （iFinD）
Risk tip: the epidemic fluctuation is higher than expected, and the installed capacity of new energy is lower than expected.
