国际能源与ESG周报：国内电网投资景气度持续，美国FERC批准ISO-NE的长期输电规划流程（LTTP）第二阶段

Investment Rating - The report suggests a positive investment outlook for Chinese companies as key suppliers in the energy transition in Europe and the US, recommending focus on leading battery manufacturers with overseas advantages and sufficient technological reserves, as well as top energy storage companies with high profitability and ample orders [4]. Core Insights - In China, the LNG import price continues to decline while market prices have slightly increased. The industrial power generation growth rate remains stable, with a notable increase in hydropower and a recovery in wind power generation. The energy storage sector is seeing significant projects, including a global largest energy storage project signed by Sungrow and Saudi ALGIHAZ with a capacity of 7.8 GWh. Wind power installations in the first five months of 2024 reached 19.8 GW, a year-on-year increase of nearly 21%, and grid investment totaled 170.3 billion yuan, up 21.6% year-on-year [1][2][4]. Summary by Sections 1. China Energy Market and ESG Updates - LNG prices in China have decreased, with the import price at $11.29 per million BTU, down 1.24% week-on-week, while the market price increased by 0.45% to 4,459 yuan per million BTU [6][8]. - In June, the industrial power generation reached 768.5 billion kWh, a year-on-year growth of 2.3%, with hydropower increasing by 44.5% and wind power recovering to a growth of 12.7% [12][24]. 2. US Energy Market and ESG Updates - US natural gas futures prices have slightly increased, while the average spot price for electricity decreased by 26.6% to $52.514 per MWh [2]. - Amazon has achieved its goal of 100% renewable energy ahead of schedule, operating around 300 rooftop solar projects [2]. 3. European Energy Market and ESG Updates - European natural gas futures prices have continued to decline, with an increase in gas inventories [2]. - KPMG launched "Clear on Climate Reporting" to assist companies in reporting climate-related risks and opportunities [2]. 4. Indian Energy Market and ESG Updates - Tamil Nadu has raised electricity prices by 4.83% starting July 1 [2]. - India has initiated a 795 MW solar project EPC tender [2]. 5. Southeast Asia and Other Regions - Vietnam's EVN reported record losses despite rising electricity prices [3]. - Vietnam has approved 14 wind power projects with a total capacity of 800 MW [3]. 6. Energy Storage and Lithium Battery Market Updates - The average price for a 2-hour energy storage system has decreased by 6%, with the total scale of energy storage reaching 4.32 GW/10.29 GWh in June [19][22]. - Lithium carbonate prices have stabilized, with battery-grade lithium carbonate priced at 89,800 yuan per ton, down 0.83% [19][22]. 7. Photovoltaic Market Updates - From January to May, the newly installed photovoltaic capacity reached 79.15 GW, a year-on-year increase of 29% [24]. - The price of polysilicon remains under pressure, with domestic prices for dense block materials stable at 37-41 yuan per kg [26][30]. 8. Wind Power Market Updates - Three wind power projects with a total of 1,250 MW have initiated procurement [32].