风电周报（2025.2.10-2025.2.16）：五部门印发重点风电低碳技术，广东300MW海风机组启动招标-20250319

Investment Rating - The report maintains a "stronger than the market" rating for the wind power equipment sector [3]. Core Insights - The Ministry of Ecology and Environment and four other departments released a notification regarding the "National Key Promotion Low-Carbon Technology Catalog (Fifth Batch)," which includes 103 low-carbon technologies, among which are five key wind power technologies [1][12]. - The wind power sector is experiencing a surge in bidding activities, with a total of 300MW of offshore wind power projects and 1095MW of onshore projects being opened for bidding this week [41][42]. - The average bidding price for offshore wind projects has shown a downward trend, with the average price being 3281.61 yuan/kW [2][41]. Industry Dynamics - The wind power sector saw a total of 79.82GW of new installations in 2024, representing a year-on-year growth of 5.16% [1][25]. - The total wind power generation in 2024 reached 991.6 billion kWh, accounting for 10.06% of the total electricity consumption [1][25]. - The prices of raw materials such as scrap steel, copper, aluminum, and epoxy resin have increased, while the prices of medium-thick plates and rebar have decreased [34][39]. Market Performance - The wind power equipment index had a TTM price-to-earnings ratio of 27.09 and a market-to-book ratio of 1.48 [20][21]. - The wind power equipment sector's performance was -0.73% this week, ranking 110th among 124 sub-sectors [18][21]. Company Recommendations - The report recommends focusing on companies like Sany Heavy Energy, Goldwind Technology, and Tianjun Wind Power, which are expected to benefit from the acceleration of offshore wind construction and overseas market expansion [7]. - Companies with strong market positions in large-scale casting and forging components, such as Jinlei Co. and Riyue Co., are highlighted for their potential growth due to successful overseas product certifications [7].