绿电直连政策落地，旺能环境打造“绿能+算力”一体化生态

Group 1 - The National Development and Reform Commission and the National Energy Administration have issued a notice to promote the development of green electricity direct connection, providing strong momentum for the integration of renewable energy production and consumption [1] - The green electricity direct connection policy allows renewable energy sources like wind, solar, and biomass to supply electricity directly to single users, creating a new model for physical traceability of electricity [2] - The policy opens up collaboration opportunities between waste-to-energy projects and data centers, with a requirement for new data centers to source over 80% of their electricity from green energy [2] Group 2 - The direct connection policy is expected to shift the waste-to-energy business model from ToG (government) to ToB (business), potentially leading to a revaluation of companies in this sector [3] - Accounts receivable issues have historically impacted cash flow for waste-to-energy companies, but supplying power to data centers could improve profitability and cash flow, reducing impairment risks [3] Group 3 - Wangneng Environment, a leading company in the solid waste industry, is transforming into a green technology service provider, leveraging its waste-to-energy capacity to support the "Zero Carbon Intelligent Computing Center" project [4] - The South Taihu project, set to process 2,150 tons of waste per day and generate over 3.036 billion kWh of clean electricity annually, will significantly reduce coal consumption [4] - The project employs innovative technology to enhance thermal efficiency, doubling the power generation per ton of waste compared to industry averages [4] Group 4 - The solid waste and environmental protection industry is projected to reach a scale of 15 trillion yuan by 2030, indicating a broad market outlook for companies like Wangneng Environment [5] - Wangneng Environment is developing a differentiated path by integrating solid waste management, computing power, and smart factories, positioning itself as a comprehensive solution provider for low-carbon and intelligent transformation in traditional manufacturing [5]