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电气设备：沙特±500千伏柔直换流阀中标公示，特高压、超高压出海正当时
Huajin Securities·2024-07-17 10:00

Investment Rating - The report maintains an investment rating of "Leading the Market" for the electrical equipment industry [1]. Core Viewpoints - The report highlights the ongoing trend of high-voltage direct current (HVDC) projects in Saudi Arabia, indicating a significant opportunity for Chinese companies in the international market [1][2]. - The report emphasizes the importance of renewable energy development in Saudi Arabia, with a target of achieving 40GW of installed photovoltaic capacity by 2030 as part of the "Vision 2030" initiative [1]. - The report notes that the recent contracts awarded for HVDC projects in Saudi Arabia will enhance the stability of the local power grid and support the long-term energy strategy of the country [1]. Summary by Relevant Sections Industry Performance - The report discusses the recent awarding of contracts for HVDC converter stations in Saudi Arabia, which are part of major national projects aimed at enhancing the power transmission capacity [1]. - It mentions the successful signing of a global energy storage project by Sungrow Power Supply Co., with a capacity of 7.8GWh, expected to be operational by 2025 [1]. Market Trends - The report indicates that the demand for renewable energy solutions, particularly solar and energy storage, is increasing in the Middle East, driven by government initiatives to reduce reliance on oil [1]. - It highlights the strategic partnerships formed by Chinese companies with Saudi entities to establish local production of photovoltaic components, which is expected to boost exports and local manufacturing capabilities [1][2]. Investment Opportunities - The report suggests that the HVDC technology will play a crucial role in the integration of renewable energy into the grid, making it a key area for investment in the upcoming energy transition [2]. - It identifies specific companies in the HVDC supply chain, such as State Grid Corporation and other leading manufacturers, as potential beneficiaries of the growing market demand [2].