风电行业周报：2024年中国风电新增并网88GW

Investment Rating - The industry investment rating is "Increase" [5] Core Viewpoints - The wind power installed capacity in China is expected to continue growing, with an estimated 88GW of new grid-connected capacity in 2024, leading to a cumulative installed capacity of approximately 530 million kilowatts by the end of 2024, accounting for over 15% of the power structure [1][69] - Looking ahead to 2025, the annual new installed capacity of wind power in China is projected to be around 105-115GW, with onshore capacity expected to be about 95-100GW, and potentially exceeding 150GW by 2030 [1][69] Data Tracking Market Performance - The electric equipment sector saw a weekly change of 0.31%, ranking 6th among 31 first-level industries in terms of performance [10] - Year-to-date, the electric equipment sector has experienced a decline of 5.49%, ranking 9th among the same industries [10] Wind Power Installation Data - As of November 2024, China's cumulative wind power installed capacity reached 490 million kilowatts, a year-on-year increase of 19.2% [27] - From January to November 2024, 51.75GW of new wind power capacity was added, representing a year-on-year growth of 25.03% [27] - In November 2024 alone, 5.95GW of new capacity was added, showing a year-on-year increase of 45.83% [27] Wind Power Approval Data - In 2024, a total of 103.41GW of wind power projects were approved, marking a year-on-year increase of 63.24% [43] - Among these, onshore projects accounted for 87.55GW, while offshore projects accounted for 14.62GW [43] Wind Turbine Bidding Data - During the week of January 6-10, 2025, a total of 7 wind power projects initiated bidding, with a combined scale of 794.5MW [49] - The total scale of wind turbine procurement for the week reached 2007.25MW [51] Investment Recommendations - Focus on companies benefiting from the demand for offshore wind power and the development of deep-sea projects, such as Dongfang Cable, Haili Wind Power, Qifan Cable, and Yaxing Anchor Chain [3][69] - Companies with strong overseas market expansion capabilities, such as Dajin Heavy Industry, Taisen Wind Power, and Zhenjiang Co., are also recommended [3][69] - Wind turbine manufacturers with recovering profitability, including Mingyang Smart Energy, Goldwind Technology, Sany Heavy Energy, and Yunda Co., are highlighted [3][69]