雅下水电站“巨无霸”工程开工！撬动电力设备市场

Core Viewpoint - The commencement of the Yarlung Tsangpo River downstream hydropower project is expected to generate significant economic benefits beyond just electricity generation, with a total investment of approximately 1.2 trillion yuan [2][5]. Industry Impact - The project involves the construction of five cascade power stations and is anticipated to reshape China's hydropower industry landscape, benefiting various sectors including power equipment, foundation treatment, and tunnel excavation [2][4]. - The project is projected to create hundreds of thousands of jobs, significantly boosting local economies, particularly in Tibet, where it could generate 20 billion yuan in annual fiscal revenue, equivalent to two-thirds of the region's total fiscal revenue for 2024 [5][6]. Investment and Economic Effects - The total investment of 1.2 trillion yuan may be adjusted upwards, with transmission and transformation investments estimated between 189 billion and 315 billion yuan, benefiting the power equipment industry in the long term [6]. - The project is expected to enhance the overall hydropower capacity in China, with the annual electricity generation projected to reach 300 billion kilowatt-hours, enough to supply 300 million people for a year [4][5]. Company Participation - Several companies, including China Power Construction, SuperMap Software, and XCMG Machinery, have already engaged in the Yarlung Tsangpo hydropower project, indicating broad industry participation [7].