风电行业周报：三季度海风并网提速，上海深远海示范项目启动

Investment Rating - The investment rating for the wind power sector is "Outperform the Market" [1] Core Views - The report highlights the acceleration of offshore wind power grid connection in the third quarter and the launch of the Shanghai deep-sea demonstration project, indicating a positive trend in the industry [1][2] - The total installed capacity of wind power in China reached 480 million kW by the end of September 2024, representing a year-on-year growth of 19.8% [2][19] - The report notes a significant increase in offshore wind power installations, with a year-on-year growth of 72.73% in the first nine months of 2024 [3][19] Industry Dynamics - The Shanghai government has issued a three-year action plan to optimize the energy structure and promote renewable energy projects, including a million-kilowatt-level deep-sea offshore wind power demonstration project [1][9] - The report tracks stock performance, noting that electrical wind power stocks led gains, with increases of 28.27% for Electric Wind Power and 16.71% for Chuanrun Shares [1][14] - The report indicates that the price war in the industry is showing signs of abating, with land-based wind turbine prices beginning to recover [2] Installed Capacity Data - In the first nine months of 2024, the total newly installed wind power capacity was 39.12 GW, a year-on-year increase of 16.85% [19][20] - The cumulative installed capacity of land-based wind power reached 441.57 GW, with a year-on-year growth of 19.99%, while offshore wind power reached 39.10 GW, growing by 22.61% [3][19] Material Prices - The report notes fluctuations in raw material prices, with increases in medium-thick plates and rebar prices, while copper and aluminum prices have decreased [23][26] Investment Recommendations - The report recommends focusing on companies benefiting from the acceleration of offshore wind construction, such as Sany Heavy Energy and Goldwind Technology, and highlights the potential for improved profitability in the industry [6]