垃圾焚烧行业点评：助力IDC降能耗，垃圾焚烧迎重估

Investment Rating - The report rates the waste incineration industry as "Positive" [3] Core Insights - The waste incineration industry is expected to benefit from the trend of reducing energy consumption in data centers, with a target PUE (Power Usage Effectiveness) of 1.25 by 2025, compared to the current average of 1.48 in 2023 [5] - The collaboration between Pudong Environmental Protection and waste incineration to create a zero-carbon data center is highlighted, with the project expected to provide up to 12.7 EFLOPS of computing power and utilize 70% green electricity from the incineration plant [5] - Waste incineration is recognized as a scarce green and stable energy source, with an annual utilization of nearly 8000 hours, comparable to nuclear power, which can significantly reduce the PUE of data centers [5] - The geographical advantages and expansion potential of waste incineration facilities are emphasized, as they are typically located near urban centers with ample space for expansion [5] - The electricity generation from waste incineration aligns well with the energy demands of medium-sized data centers, with estimated annual generation of 100-200 million kWh [5] - The report suggests that waste incineration companies are likely to see revenue increases as large data centers push for zero-carbon construction, recommending attention to specific companies in the sector [5] Summary by Sections Industry Overview - The waste incineration industry is positioned as a key player in the transition to greener energy solutions, particularly in supporting data centers [5] Company Valuation - A table of major waste incineration companies is provided, detailing their market capitalization and projected net profits for 2023 to 2026, indicating a positive outlook for the sector [6]