The hottest industry reshuffle continues, and wind

2022-10-24
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The latest data from the National Energy Administration shows that from January to July 2018, China's new installed capacity of wind power generation was 9.46 million KW, an increase of nearly 23% year-on-year; The average utilization hours of wind power equipment were 1292 hours, an increase of 174 hours year-on-year

in the first half of the year, the national wind abandonment rate fell to 8.7%, a year-on-year decrease of 5 percentage points, hitting a new low in recent years

the decline of wind abandonment rate means that the utilization hours of wind power will be greatly improved, and the revenue of the wind power industry will be significantly increased

affected by this, the performance of major domestic wind power enterprises increased significantly in the first half of the year

policy risk relief

on March 23, 2018, the National Energy Administration issued the renewable energy power quota and assessment measures (Exposure Draft) (hereinafter referred to as the "exposure draft"), proposing that the subjects of quota obligations are: provincial power companies, local power enterprises, other types of power distribution enterprises (including incremental distribution enterprises with social capital investment), industrial enterprises with self owned power plants Market entities such as direct power purchase users participating in power market transactions do not include Jinan testing machine factory auto parts tensile testing machine power generation enterprises

at the same time, the exposure draft proposes to implement green card trading through supporting facilities

under the influence of power companies, consumption side and power generation side, the phenomenon of wind and light abandonment has been significantly improved since 2017

according to the public data of the national energy administration, in the first half of 2018, the proportion of new wind imports and exports in the total output was 7.94 million KW, and the cumulative wind power capacity reached 172 million KW by the end of June; At present, the national wind power generation capacity is 91.7 billion kwh, with a year-on-year increase of 28.7%; The average utilization hours were 1143 hours, an increase of 159 hours year-on-year; The country's abandoned wind power is 8.2 billion kwh, a year-on-year decrease of 5.3 billion kwh, and the overall situation of abandoned wind power rationing continues to be alleviated

in the first half of the year, the situation in most areas with serious wind curtailment and power curtailment improved, with the wind curtailment rate in Jilin, Gansu, Heilongjiang and Shanxi falling by more than 10 percentage points

in May, the National Energy Administration issued the notice on relevant requirements for wind power construction management in 2018

the notice makes it clear that from 2019, the newly approved centralized onshore wind power projects and offshore wind power projects in all provinces (autonomous regions and municipalities directly under the central government) should be allocated and determined through competition; The competent energy departments of all provinces (autonomous regions and municipalities directly under the central government) together with relevant departments shall formulate the competitive allocation methods of wind power projects with reference to the guiding plan for Competitive Allocation of wind power projects (Trial) issued with this notice, copy it to the national energy administration and publish it to the whole society, and then organize the competitive allocation of wind power projects in their respective regions according to the annual new construction scale determined in the guiding opinions

in addition, the National Energy Administration said that limited by the pressure of subsidies, the national energy management department will adjust the allocation of wind power resources, test the water bidding to allocate wind power resources, accelerate the parity of wind power, and improve the competitiveness of the industry

this is an important change in wind power resource management in the past 20 years, which will have an important impact on the wind power industry chain

Huachuang Securities believes that with the clarity of policies such as "quota + green card" and competitive allocation of resources, the policy level risks have been removed; In the past two months, the wind power sector has retreated significantly under the influence of the new energy industry policy. At present, the direction of policy support for wind power has been clarified again, the subsidies of stock wind power plants have not been affected, and the improvement of wind abandonment continues; In the short term, the wind power industry entered the peak season of installed capacity growth in the second half of the year, the economic income level of wind power projects was good, and the industry was in a high boom stage; From the perspective of year, wind power has entered the third growth cycle. With the return of wind power development to the "Three North" region, the wind power industry has the foundation to maintain high growth

strong downstream demand

according to the data of the national energy administration, in 2018, the country's new wind power capacity was 7.94 million KW, an increase of 32% year-on-year; In June, 1.64gw was added in a single month, with a year-on-year increase of more than 200%; In July, wind power reached 1.93gw in a single month, with a year-on-year increase of 49%, and the installed capacity of wind power gradually improved; In the first half of the year, the new installed capacity was concentrated in Inner Mongolia, Jiangsu, Qinghai, Henan, Shanxi and Ningxia, especially in Inner Mongolia, where the new installed capacity exceeded 1GW

in terms of the national growth and consolidation, the growth in the first half of the year exceeded expectations. At this time, domestic wind power development is in the traditional off-season, and the price of wind turbines is still on the downward track

in the first quarter of 2018, the average price of 2.0MW wind turbines fell to 3434 yuan/kW, down 9.89% from the end of 2017

at the end of June 2018, the average bidding price of the 2.0MW model was about 3300 yuan/kW. From 2017 to the first half of 2018, the bidding price of 2.0MW wind turbines decreased by about 890 yuan/kW

Huachuang securities predicts that the equipment shipment, hoisting and consolidation volume in the third quarter of 2018 is expected to increase significantly

in 2017, the proportion of new installed capacity in the central and eastern regions in the country increased from 25% in 2016 to 38%, the proportion of new installed capacity in the three northern regions decreased from 53% to 46%, and the proportion of new installed capacity in the northeast region decreased from 11% to 4%; However, the cumulative installed capacity of wind power is still concentrated in the three northern regions. The cumulative installed capacity of wind power in the three northern regions is 121.73 million KW, accounting for 74% of the total installed capacity of wind power in China, including more than 20million kW in Inner Mongolia and more than 10million kW in Xinjiang, Gansu, Hebei and Shandong

according to the data of the technical policy for pollution prevention and control of titanium dioxide industry, which has been formulated and completed in the first draft, the monthly installed capacity of wind power released by the national energy administration was 1.93gw in July, an increase of 49% year-on-year

according to the national power industry statistics in June, the monthly new wind power generation capacity was 9.46gw, an increase of 2.16gw over the same period last year

among them, the market share of new installed capacity of Goldwind Technology () in 2017 has reached 29%; In 2017, the combined installed capacity of energy-saving wind power () reached 2.33gw, 693.5mw in Hebei, 600MW in Xinjiang and 748.5mw in Gansu

industry reshuffle continues

the decline in fan prices is constantly squeezing the profits of fan manufacturing

according to the semi annual report, the revenue of energy-saving wind power in the first half of the year was 1.213 billion yuan, an increase of 30.56% year-on-year; The net profit attributable to the parent company was 338 million yuan, with a year-on-year increase of 47.11%. In the first half of the year, the company completed 3 billion kwh of electricity, an increase of 727 million kwh or 31.91% over the same period

for the substantial improvement of performance, the explanation given by energy-saving wind power is that the operation of new projects put into operation in the first half of the year and the improvement of wind power curtailment in some regions where the company is located compared with the same period of the previous year have resulted in the growth of electricity sales and electricity sales revenue

According to the announcement of SDIC power (), the company achieved a revenue of 17.786 billion yuan in the first half of the year, an increase of 27.38% year on year; The net profit attributable to the parent company was 1.571 billion yuan, with a year-on-year increase of 21.74%. In the first half of the year, SDIC power completed 65.152 billion kwh of power generation and 63.121 billion kwh of power generation, an increase of 19.52% and 19.13% over the same period last year. Among them, wind power generation was 1.027 billion kwh, with a year-on-year increase of 44.74%; In the first half of the year, the power of wind power was 1billion kwh, with a year-on-year increase of 44.73%

SDIC power disclosed in the announcement of main business data in the second quarter of 2018 that the main reasons for the overall year-on-year growth of wind power generation are: first, the wind power curtailment in the northwest region has improved, and the power generation has increased significantly year-on-year; Second, wind power projects in Dongchuan, Yandun, Jingxia and Qinghai have been put into operation and have begun to take effect

according to the semi annual report of Huayi Electric (), the company achieved an operating revenue of 793 million yuan in the first half of 2018, an increase of 12.93% over the same period last year; The net profit attributable to the parent company was 11.7 million yuan, with a year-on-year increase of 13.64%. During the reporting period, the company's wind power industry achieved a total main business income of 358 million yuan, a decrease of 4.45% over the same period last year

in the first half of the year, Goldwind technology achieved an operating revenue of 11.013 billion yuan, an increase of 12.10% over the same period last year; The net profit attributable to the parent company was 1.53 billion yuan, with a year-on-year increase of 35.05%

during the reporting period, the power generation capacity of Goldwind technology was 4.06 million megawatt hours, an increase of 25% year-on-year. The wind power projects operated by the company achieved a power generation revenue of 2.019 billion yuan, an increase of 21.62% over the same period last year

Tianshun wind energy () achieved an operating revenue of 1.616 billion yuan in the first half of the year, an increase of 29.88% over the same period last year; The net profit attributable to the parent company was 241 million yuan, with a year-on-year increase of 0.91%. During the reporting period, the company's power generation business achieved a sales revenue of 155 million yuan, an increase of 25.03% year-on-year. As of the disclosure date of the semi annual report, the company's wind farm has increased the combined capacity by 140MW, with a cumulative combined capacity of 440mw. The company has signed a wind farm preliminary development agreement with a scale of 1.93gw. Tianshun wind energy said that the growth of the company's operating revenue during the reporting period was mainly due to the sufficient orders of domestic wind towers and timely delivery; Shandong Licun and Henan Nanyang wind farms did not generate electricity during the reporting period

Silver Star energy () achieved a revenue of 576 million yuan in the first half of 2018, with a year-on-year increase of 17.96%; The net profit attributable to the parent company was 46.73 million yuan, an increase of 419.73% year-on-year. Silver Star Energy said that during the reporting period, the company improved the condition of equipment and the profitability of wind power projects by strengthening the implementation of equipment governance and efficiency improvement projects of wind power technology. It is expected to increase the utilization hours by 100 hours and increase the power generation by 126 million kwh every year

Liang Zhipeng, deputy director of the Department of new and renewable energy of the national energy administration, said at the press conference on July 30 that from the perspective of the layout of new combined capacity, the northeast, Inner Mongolia and northwest regions, where wind power consumption is difficult, have a total new combined wind power capacity of 2.75 million KW, accounting for 35% of the country's new combined wind power capacity. The rest of the wind power is in areas with large power demand, accounting for 65%. The layout of new combined wind power is more consistent with the power demand; In the first half of the year, the capacity of offshore wind power increased by 157000 kW. By the end of June, the cumulative and installed capacity of offshore wind power was 2.7 million KW, mainly concentrated in Shanghai (300000 kW), Jiangsu (2.25 million KW) and Fujian (140000 kW) in East China

under the influence of Competitive Allocation of resources, high parity and other factors, there is still downward pressure on the price of wind turbines

small equipment manufacturers cannot participate in bidding, leading companies need to counter the trend to increase market share, and the industry reshuffle continues

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