中国电建企协发布2025年四季度CEPI及PCDI指数：清洁能源发展稳进 电力建设态势向好

Core Insights - The China Electric Power Construction Enterprise Association (CEPCA) released the Clean Energy Construction Prosperity Index (CEPI) and Power Construction Development Index (PCDI) for Q4 2025, indicating a stable recovery in the clean energy construction sector and an accelerated energy transition [1][11] CEPI Summary - The CEPI for Q4 2025 is 108.242, showing a year-on-year decrease of 8.22 points and a quarter-on-quarter decrease of 2.96 points, remaining within the prosperous range of 100-120 [2] - The index, based on 2017, focuses on hydropower, nuclear power, wind power, and solar power, with fluctuations attributed to a slowdown in the growth rate of new clean energy installed capacity [2] - By the end of 2025, the total installed power generation capacity reached 3.89 billion kilowatts, a year-on-year increase of 16.12%, with clean energy capacity at 2.35 billion kilowatts, accounting for over 60% [2] PCDI Summary - The PCDI for Q4 2025 is 93.29, showing a year-on-year decrease of 1.29 points but a quarter-on-quarter increase of 5.87 points, driven by improvements in all four sub-indices [9] - The economic efficiency sub-index performed best at 92.93, with a year-on-year increase of 3.53 points and a quarter-on-quarter increase of 9.15 points, despite slight declines in revenue and new contracts [10] - The green development sub-index is at 93.19, with a year-on-year decrease of 4.81 points but a quarter-on-quarter increase of 9.66 points, indicating a significant increase in non-fossil energy installed capacity [10] Investment and Capacity Insights - In Q4 2025, clean energy investment totaled 381 billion yuan, a year-on-year decrease of 23.97%, while the newly added power generation capacity was 17.944 million kilowatts, a year-on-year decrease of 5.88% but a quarter-on-quarter increase of 144.44% [2][5] - Clean energy generation reached 1,685.9 billion kilowatt-hours, a year-on-year increase of 20.65%, representing 53.34% of the national power generation, equivalent to a reduction of 138.4 million tons of CO2 emissions [5] Economic Context - In Q4 2025, China's GDP reached 38.791 trillion yuan, growing by 4.5% year-on-year and 1.2% quarter-on-quarter, with fixed asset investment (excluding rural households) at 11.3651 trillion yuan [11] - Power construction investment completed amounted to 695.8 billion yuan, with a quarter-on-quarter increase of 82.19%, reflecting its significance within fixed asset investment [11]