“十四五”能源成就·投资篇丨比增11%！增势强劲向绿向新

Core Insights - The energy investment in China is experiencing strong growth, with a projected investment of 3.54 trillion yuan in key energy projects by 2025, representing an 11% year-on-year increase [1] - The "14th Five-Year Plan" has led to significant increases in energy investment, with annual investments surpassing 4 trillion, 5 trillion, and 6 trillion yuan, providing robust support for China's modernization efforts [1][2] Investment Trends - Energy investment accounts for nearly 10% of total fixed asset investment in China, highlighting its critical role in economic stability [2] - Investment in key sectors such as electricity and heat production has seen growth rates exceeding 20%, contributing significantly to overall economic growth [2] - Despite a decline in overall fixed asset investment from January to November 2025, investment in key energy projects has continued to rise, particularly in nuclear power, onshore wind, distributed solar, and grid infrastructure [2] Supply Security - Since 2021, state-owned energy enterprises have been responsible for approximately 80% of crude oil, 70% of natural gas, and 60% of electricity supply, increasing China's energy self-sufficiency from around 80% to over 84% [3] - The coal supply has been reinforced, and oil and gas production has reached historical highs, effectively managing peak electricity loads [3] Technological Advancements - New energy storage capacity has surpassed 100 million kilowatts, making China the world leader in this area [4] - China holds over 40% of global renewable energy patents, with continuous improvements in solar conversion efficiency and offshore wind turbine capacity [4] Green Investment - The "14th Five-Year Plan" marks the fastest transition to green and low-carbon energy in China's history, with renewable energy investments becoming the dominant force in power generation [6] - By 2024, over 80% of investment in power generation will be directed towards renewable energy projects, contributing to a significant reduction in carbon emissions [6] Private Sector Involvement - The threshold for investment in the energy sector has been lowered, leading to a double-digit growth rate in private sector participation in energy projects [8] - Private enterprises are increasingly involved in major energy projects, with significant participation in nuclear power and hydropower projects [8][9] - Recent policies have been implemented to enhance the investment environment for private capital in the energy sector, including support for participation in key projects [8][10]