Give LZ something practical and abstract. I currently work for a giant wind energy company and have a certain degree of authority.
The latest trends:
1. Onshore wind energy is shifting to offshore wind energy;
2. High-speed wind turbines shift to low-speed wind turbines
3. Large-scale wind farms are connected to the grid and moving to distributed wind power generation
Wind Energy Industry Trends:
1. Specific See http://www.cnstock.com/index/gdxw/201108/1463061.htm
To meet the network connection guidelines, 18 wind energy standards were announced on August 5 : The National Energy Administration released it on the 5th. There are 18 important standards such as "Technical Specifications for Grid Connection Design of Large Wind Farms", which involve necessary technical standardsare urgently needed for the development of wind power industry, such as grid connection of large wind farms, construction of offshore wind power, monitoring of wind turbine condition, power quality wind farms and the main manufacturing requirements of wind energy equipment.
2. The low voltage through LVRT capacity does not meet the requirements, the artificial short circuit test fails, and the reactive power compensation is incomplete. These three issues are headaches for large wind farms. This is also the reason for the large-scale off-grid accident at Jiuquan wind farm in Gansu province.
In terms of current affairs, the Henan Provincial Development and Reform Commission has recently published the “2021 Wind Project Issuance Notice”. Power Project Development Plan". The document presents the requirements Accelerate the approval of projects included in thedevelopment plan. Based on the power consumption space of various regions and the province, a total of 4.04 million kilowatts of wind power project development plans for 2021 have been issued. The notice requests the development and reform commissions of all provincial municipalities and directly governed counties (cities) to arrange the approval of wind power project development accordingly, and urges companies to accelerate preliminary work and construction of the wind power project.
Right now, the logic behind the boom in the wind energy sector is demand. According to the January-August national power industry statistics released by the National Energy Administration, from January to August 2021, China's newly installed wind power capacity was 14.63 GW, an increase of one year-on-year by 4.59 GW in August. the new scalee of grid-connected wind power was 2.06 GW, a year-on-year increase of 39%. On the one hand, three factors: the construction of clean energy bases and offshore wind power bases + rural wind power + the "14th Five-Year Plan" have boosted expectations for installed capacity of wind energy in the post-subsidy era. On the other hand, taking into account the promotion of carbon neutrality, it is more likely that the installed capacity in a single year will remain above 50 GW during the “14th Five-Year Plan” period.
Based on the comparison of the valuations of various new energy sectors in electrical equipment, the valuations of wind power machinery and component manufacturers are relatively low with the valuations of photovoltaics, energy storage , lithium batteries, etc. . being at medium to high levels, policies related todemand Catalyzed by the wind energy industry, the overall valuation of wind energy is recovering and the valuation gap with photovoltaics is expected to narrow. From the perspective of performance, due to order delivery cycle factors, the performance of complete machine manufacturers this year more reflects last year's high-priced orders, and the gross profit margin is relatively good. The performance of parts manufacturers reflects the impact of current purchase orders. Affected by the pressure on upstream steel prices, the current performance is under pressure.
Everbright Securities believes that the greater stock price elasticity of the wind power sector should beDue to falling costs, judgment on the development of economic data and wind power prices steel is at the heart. On September 15, the National Energy Administration announced that thehe overall growth rate of electricity consumption in August was 3.6% and secondary sector electricity consumption was 0.6%. Previously, the IPP was also at a high level.After the "Golden Nine and Silver Ten", although the supply has some support due to the policy of restricting the production of the Winter Olympics, steel prices could continue to rise or pressures could arise. If steel prices fall, profits for wind power component manufacturers will reverse and be realized by 2022, with greater flexibility. Whole machine manufacturers have relatively full orders in 2021, but gross profit margins may be slightly affected by this year's low-cost orders. Leading manufacturers with rapid growth or high gross profit margins should be preferred.
As forRegarding specific investment objectives, Everbright Securities recommends seizing investment opportunities in wind power parts and complete machines. Wind power parts industry recommends to focus on: Daikin Heavy Industry, Jinlei Co., Ltd., Taisheng Wind. Energy, Zhenjiang Co., Ltd., Japan Co., Ltd. Yue Shares and Tianshun Wind Energy. It is recommended to focus on the wind machinery sector: Sany Heavy Energy (to be listed), Yunda Co., Ltd., Goldwind Technology (A+H) and Mingyang Intelligent.