TBEA(SH:600089) Mei Ri Jing Ji Xin Wen·2026-01-19 07:11Core Viewpoint - In 2025, China's clean energy construction accelerates, achieving multiple key breakthroughs, marking a significant milestone in the energy transition with wind and solar power generation capacity surpassing thermal power for the first time [1] Group 1: Clean Energy Development - The installed capacity of wind and solar power generation historically exceeds that of thermal power for the first time [1] - The "West-to-East Power Transmission" capacity reaches 340 million kilowatts [1] - New energy storage installations exceed 10 million kilowatts, accounting for over 40% of the global total, ranking first in the world [1] Group 2: Energy Structure and Performance - The annual clean energy generation from large-scale industries reaches 34,213 billion kilowatt-hours, representing a year-on-year increase of 8.8% and a share of 35.2% in the energy structure [1] - The deepening of the coal power "three reforms" enhances the complementary relationship between power sources and grids, improving the power system's regulation capability [1] Group 3: Industry Outlook - The surpassing of thermal power by wind and solar installations is seen as a milestone event, indicating the industry is entering a new cycle characterized by "green power dominance and multi-link collaboration" [1] - Structural opportunities and risks coexist within the industry as it transitions [1]