Sichuan caizhou viewpoint
The National Energy Administration released the statistical data of the national power industry from January to April. By the end of April, China's installed power generation capacity was about 2.41 billion kw, a year-on-year increase of 7.9%. Among them, the installed capacity of wind power was about 340 million KW, a year-on-year increase of 17.7% Cecep Solar Energy Co.Ltd(000591) installed power generation capacity was about 320 million KW, an increase of 23.6% year-on-year. From January to April, the investment in power supply projects of major power generation enterprises in China was 117.3 billion yuan, a year-on-year increase of 5.1%. Among them, Cecep Solar Energy Co.Ltd(000591) power generation was 29 billion yuan, an increase of 204.1% year-on-year. The investment in power grid projects was 89.3 billion yuan, a year-on-year increase of 4.7%. According to the data, the installed capacity of new energy still maintains rapid growth. Driven by the dual carbon strategy, the installed capacity of renewable energy is expected to become the main force of power generation. In terms of power generation, the growth rate of wind power has slowed down, the growth rate of Cecep Solar Energy Co.Ltd(000591) power generation has accelerated, and the power generation structure has been continuously optimized. The investment in photovoltaic power generation has increased significantly, and the strong demand for installed capacity has driven the price of silicon material to continue to rise. We expect that the price will remain high in the future. Under the theme of steady growth this year, the investment in power infrastructure is expected to continue. It is suggested to pay attention to the investment opportunities in the power industry.
Under the influence of the epidemic, the demand for electricity has decreased. In April, affected by the spread of the epidemic in many places, the power consumption of the whole society narrowed, down 1.3% year-on-year. In terms of industries, the power consumption of the primary industry has maintained growth with a growth rate of 5.5% under the promotion of spring farming production. The secondary and tertiary industries were greatly affected by the epidemic, and the growth rate of power consumption decreased by 1.4% and 6.8% respectively. Under the repeated epidemic, the control policies were restarted in many places, and the catering, accommodation and logistics transportation industries were significantly impacted, resulting in a sharp decline in the power consumption of the tertiary industry. At present, there are signs of control of the national epidemic, Shanghai has gradually resumed work and production, and the growth rate of follow-up power consumption is expected to pick up.
Market performance in one week
This week, the power industry index rose 1.64%, the Shanghai index rose 2.02%, and the Shanghai and Shenzhen 300 index rose 2.23%. Among the sub sectors, the thermal power generation index rose by 0.86%, the hydropower generation index rose by 0.17%, the photovoltaic power generation index rose by 6.89% and the wind power generation index rose by 5.33%.
Industry dynamics
The 14th five year plan for Shanghai's energy development was released: by 2025, the city's natural gas generating units will reach 12.5 million KW. Strive to increase the scale of PV by 2.7 million KW. Explore and implement far-reaching sea and land decentralized wind power demonstration pilot projects, and strive to increase the scale by 1.8 million KW.
Company announcement
Sichuan New Energy Power Company Limited(000155) ( Sichuan New Energy Power Company Limited(000155) ): in order to accelerate the development of Sichuan New Energy Power Company Limited(000155) lithium battery industry, give full play to the advantages of both sides and realize complementary resources and industries, Sichuan New Energy Power Company Limited(000155) plans to transfer 5% of the equity of Sichuan energy investment Lithium Industry Co., Ltd. to Sichuan Road & Bridge Co.Ltd(600039) at a transfer price of 149 million yuan.
Risk tips: the epidemic fluctuated more than expected, new energy subsidies were issued less than expected, and silicon prices rose sharply.
