市场观察 | 2025年至今，谁斩获了压缩空气储能项目EPC订单？

Core Insights - The compressed air energy storage (CAES) EPC market is primarily dominated by state-owned enterprises, with a competitive landscape characterized by specialized joint ventures [2][3] - The EPC+F model, which integrates financing with engineering, procurement, and construction, is a pioneering approach in the CAES sector, addressing high construction costs and financing needs [3] Group 1: EPC Bidding Results - The CAES projects awarded include significant contracts such as the 350MW/1750MWh project in Baoqing, which was won by a consortium led by China Energy Engineering Group and China Gezhouba Group, with a bid of 250.693 million yuan [1][2] - Other notable projects include the 100MW/400MWh project in Sunite Zuoqi, awarded to China Railway First Survey and Design Institute Group, with a bid of 80.459 million yuan [1][2] - The 300MW/1500MWh project in Yueyang, Hunan, was awarded to a consortium including China Electric Power Construction Group, with a bid of 129.567 million yuan [1][2] Group 2: Market Dynamics - The CAES EPC market is characterized by a collaborative approach, where design institutes and construction companies form joint ventures to leverage their strengths across the project lifecycle [2][3] - The market is witnessing a shift as companies like China Railway Construction are gaining market share by utilizing their expertise in underground engineering [2] Group 3: Cost Variations - Significant price differences in EPC bids are attributed to factors such as project scale, gas storage solutions, thermal storage technologies, and the specific scope of bidding [4][5][6][9] - Smaller projects, like the 100MW/400MWh in Sunite Zuoqi, exhibit higher unit costs compared to larger projects due to economies of scale [5] - The choice of gas storage method significantly impacts costs, with salt cavern storage being the most economical, while artificial caverns and pipeline steel storage are considerably more expensive [6][9] Group 4: Innovative Financing Models - The EPC+F model is designed to alleviate financing challenges by integrating project financing with the EPC contract, allowing for a smoother funding process [3] - This model is particularly beneficial in the CAES sector, where high capital costs and long construction periods necessitate innovative financing solutions [3]