The driving force of power development has changed from traditional coal power to new energy. In March 2022, the national development and Reform Commission and the National Energy Administration jointly issued the “14th five year plan” for modern energy system, which planned and deployed China’s efforts to build a modern energy system and promote high-quality energy development during the 14th Five Year Plan period. According to the plan, by 2025, China’s total installed power generation capacity will reach about 3 billion kw, including 380 million kw of conventional hydropower, 62 million kw of pumped storage and 70 million kw of nuclear power. According to the above data, it is estimated that in 2025, the total installed capacity of wind power and photovoltaic power will reach 1.1 billion kw, the installed capacity of biomass power generation will reach 40 million KW, and the installed capacity of non fossil energy power generation will exceed 50% of the total installed capacity.
Continuously improve the ecological environment and promote green and low-carbon development. In the government work report released in early March, in addition to continuing the past comprehensive treatment of the ecological environment and the battle for pollution prevention and control, the part on environmental protection will strengthen the treatment of solid waste and new pollutants, promote waste classification, reduction and recycling, improve environmental protection industry support policies such as energy and water conservation and recycling of waste materials, and combine with the construction goal of circular economy system in the 14th five year plan, The development of renewable resources industry will be accelerated, the market space will be opened quickly, and relevant enterprises will also usher in a period of rapid growth. The “double carbon” part still sets work goals around key words such as energy revolution and low-carbon transformation, and continues to promote the transformation from “double control” of energy consumption to “double control” of total carbon emission and intensity. The rapid growth of new energy power generation is uncertain.
Focus on the goal of “double carbon” and promote green development. In recent years, China has issued a series of laws, regulations and policies related to the utilization of renewable resources, which has played a good role in guiding and promoting the utilization level of renewable resources and the establishment and improvement of a green and low-carbon circular development system. According to the 14th five year plan for the development of circular economy, by 2025, China’s resource recycling industry system will be basically established, the resource recycling system covering the whole society will be basically completed, the resource utilization efficiency will be greatly improved, and the replacement proportion of renewable resources to primary resources will be further increased. With the rapid opening of renewable resources market space, enterprises will usher in a period of rapid growth.
Recommendations and concerns for recommendation and attention: China Three Gorges Renewables (Group) Co.Ltd(600905) \ ( Shandong Intco Recycling Resources Co.Ltd(688087) . SH).
Risk warning: the risk that the policy strength is less than expected; The risk that the project construction progress is less than expected; Risk that the output of new energy power generation is less than expected; Risks of intensified industry competition; The risk of subsidy decline in subdivided industries.
