Core Viewpoint - China Energy Construction (03996) has signed three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - The Shakila 1GW Wind Power Project under Saudi PIF, with a contract value of $663 million and a construction period of 26 months [1] - The Stella 2GW Wind Power Project under Saudi PIF, with a contract value of $1.251 billion and a construction period of 30 months [1] - The Folis 2GW Photovoltaic Project under Saudi PIF, with a contract value of $831 million and a construction period of 26 months [1]

Core Viewpoint - China Energy Engineering Corporation (03996.HK) has signed three new energy general contracting agreements with a consortium of Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - Shakila 1GW Wind Power Project: Contract amount of $663 million, with a construction period of 26 months [1] - Stella 2GW Wind Power Project: Contract amount of $1.251 billion, with a construction period of 30 months [1] - Folis 2GW Photovoltaic Project: Contract amount of $831 million, with a construction period of 26 months [1]

Core Viewpoint - China Energy Construction (03996) has signed three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - Shakila 1GW Wind Power Project, with a contract value of $663 million and a construction period of 26 months [1] - Stella 2GW Wind Power Project, with a contract value of $1.251 billion and a construction period of 30 months [1] - Foris 2GW Photovoltaic Project, with a contract value of $831 million and a construction period of 26 months [1]

Investment Rating - The industry investment rating is "Recommended," indicating a positive outlook for the industry fundamentals and an expectation that the industry index will outperform the benchmark index [22]. Core Insights - The rapid increase in the proportion of renewable energy generation has transformed energy storage from an "optional" to a "mandatory" component. For instance, in the EU, renewable energy accounted for 28.5% of the power consumption structure in 2024, leading to issues such as price volatility and curtailment of wind and solar energy [3][4]. - The structural demand for energy storage has been established, and its economic viability is accelerating. The first half of the year saw numerous domestic energy storage-related listed companies announcing expansion and investment plans, indicating a sustained upward trend in the industry's prosperity [19] [3]. Summary by Sections 1. Importance of Energy Storage in Renewable Energy - The increasing integration of renewable energy sources like wind and solar into the grid has led to significant challenges, including price fluctuations and curtailment issues. Energy storage is essential for providing stability and flexibility in the power system [4][6]. - In the EU, it is estimated that an additional 56GW of energy storage by 2030 could reduce curtailment by approximately 30TWh per year and lower annual system costs by €8 billion, while also reducing CO2 emissions by about 19 million tons [6][3]. 2. Commercialization of Energy Storage in China - The National Energy Administration's recent policies have shifted China's energy generation model towards market-oriented pricing, moving away from fixed prices and subsidies [13]. - Different regions in China are developing unique energy storage market mechanisms. For example, Shandong has established a spot market for energy storage, while Guangdong relies on diverse revenue streams [14][15]. 3. Expansion Plans of Energy Storage Companies - In the first half of the year, several domestic energy storage companies announced expansion and investment plans, including major players like CATL and EVE Energy, which are ramping up production capacities significantly [16][19]. - The overall trend indicates a parallel development of manufacturing expansion, project implementation, and capital investment, with a focus on both domestic and international markets [19][18]. 4. Positive Outlook for the Energy Storage Industry - The energy storage industry is expected to maintain an upward trajectory due to the established structural demand and the accelerating economic viability of storage solutions. The combination of declining equipment prices and increased revenue opportunities is enhancing project returns [19][3].

Group 1 - The core point of the article is that China Energy Engineering Corporation (601868.SH) announced the signing of three renewable energy general contracting agreements with a consortium formed by Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company, with a total contract value of approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 2 - The contracts were signed by subsidiaries of China Energy Engineering Corporation, including China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute of China Power Engineering Consulting Group [1] - The project signifies a strategic partnership in the renewable energy sector between Chinese and Saudi companies, highlighting China's growing influence in international energy projects [1] - The total contract amount reflects a significant investment in renewable energy infrastructure, aligning with global trends towards sustainable energy solutions [1]

Core Viewpoint - China Energy Engineering Corporation (601868.SH) announced the signing of three new energy general contracting agreements with a consortium formed by its subsidiaries and Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1 - The consortium includes China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute Co., Ltd. [1] - The project partners are Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company [1] - The total contract amount is approximately $2.745 billion, which converts to around 19.554 billion RMB [1]

中国能源建设股份有限公司 敬请投资者注意投资风险。 A 股代码：601868 A 股简称：中国能建 编号：临 2025-051 H 股代码：03996 H 股简称：中国能源建设 签署重大合同的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和 完整性承担法律责任。 近日，中国能源建设股份有限公司所属子公司中能建国际建 设集团有限公司、中国能源建设集团广东火电工程有限公司、中 国电力工程顾问集团西北电力设计院有限公司组建的联营体，与 沙特国际电力和水务公司、沙特公共投资基金、沙特阿美电力公 司成立的项目公司，签署了3份新能源总承包工程合同，合同金 额合计约27.45亿美元，折合人民币约195.54亿元。具体情况如 下： | 序号 | | | 合同名称 | | 合同金额 （亿美元） | | 项目 建设期 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 沙特 | PIF | 五期夏奇拉 1GW 工程总承包合同 | 风电项目 | 6.63 | 26 | 个月 | | 2 | 沙特 | ...

Core Viewpoint - China Energy Engineering Corporation (601868) announced the signing of three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1 - The consortium includes subsidiaries of China Energy Engineering Corporation: China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute Co., Ltd. [1] - The project partners from Saudi Arabia include Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company [1] - The total contract amount of approximately $2.745 billion reflects a significant investment in renewable energy projects [1]

Core Viewpoint - China Energy Engineering Corporation (601868.SH) announced the signing of three renewable energy EPC contracts with a project company formed with Saudi International Power and Water Company, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1: Contract Details - The contracts include the following projects: - The Shakila 1GW wind power project with a contract value of $663 million and a construction period of 26 months [1] - The Strala 2GW wind power project with a contract value of $1.251 billion and a construction period of 30 months [1] - The Folis 2GW photovoltaic project with a contract value of $831 million and a construction period of 26 months [1]

Core Viewpoint - China Energy Construction Co., Ltd. has signed three new energy general contracting agreements with a consortium involving Saudi companies, totaling approximately $2.745 billion, equivalent to about 19.554 billion RMB [1] Group 1 - The consortium includes subsidiaries of China Energy Construction, namely China Energy Construction International Group Co., Ltd., China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd., and Northwest Electric Power Design Institute [1] - The project partners from Saudi Arabia include Saudi International Power and Water Company, Saudi Public Investment Fund, and Saudi Aramco Power Company [1] - The total contract amount of approximately $2.745 billion reflects a significant investment in renewable energy projects [1]