21世纪经济报道记者雷椰 北京报道 相较于风电、光伏等已广为人知的新能源形式，光热发电正凭借其独特价值崭露头角。光热发电兼具调峰电源和长时储能双重 功能，能够有效平抑风电、光伏发电等新能源出力的波动性，是加快构建新型电力系统的重要支撑。 经过多年发展，我国已成功掌握塔式、槽式、菲涅尔式等主流光热发电技术，已建成全球领先的光热发电产业链，电站单位千 瓦建设成本从10年前的约3万元下降至1.5万元，度电成本降至0.6元上下，已初步具备规模化发展的基础。 尽管进步显著，但光热发电的发展仍面临现实挑战。 国家能源局相关负责人表示，我国光热发展还面临初始投资大、市场竞争能力偏弱、系统支撑调节价值未充分体现、产业技术 水平仍需提升的问题。在我国能源结构加速绿色低碳转型的关键时期，为助力能源强国建设，加快构建新型电力系统，推动光 热发电规模化发展，国家发展改革委、国家能源局联合印发了《意见》。 12月23日，国家发展改革委、国家能源局联合印发《关于促进光热发电规模化发展的若干意见》（以下简称《意见》），为推 动光热发电规模化发展明确了目标与实施路径。 《意见》提出到2030年，我国光热发电发展总装机规模力争达到1500万千 ...

Investment Rating - The credit risk outlook for the power and electrical equipment manufacturing industry in 2026 is overall controllable, with structural differentiation continuing, highlighting the stability of leading enterprises while remaining cautious about the operational and debt pressures faced by small and medium-sized enterprises [8][50]. Core Insights - The power and electrical equipment manufacturing industry is a crucial part of the national economy, closely linked to macroeconomic growth and electricity investment demand. Since 2024, electricity consumption has steadily increased, and the industry is accelerating the construction of a new energy system and power grid [8][9]. - In 2025, industry policies focus on growth stabilization, market reform, industrial integration, and rural electricity support, with attention needed on the execution of growth targets and the participation of private capital [8][11]. - The industry is characterized by a pyramid structure, with a large number of small and medium-sized enterprises facing intense competition. The ability to negotiate with upstream and downstream partners is weak, and there is significant capital occupation from accounts receivable and inventory [8][21]. - Profitability in the industry is under pressure from upstream and downstream factors, but there was a slight recovery in operating profit in the first half of 2025, with overall profitability remaining stable compared to the previous year [8][27]. - The industry maintains a good credit status, with no new defaults reported in 2025, although there is a need to monitor potential concentrated repayment pressures in the future [8][39]. Industry Fundamentals - The power and electrical equipment manufacturing industry is significantly influenced by national economic growth and electricity investment demand. In 2024, the total electricity consumption in China reached 9.85 trillion kWh, a year-on-year increase of 6.8% [10]. - The investment in power generation and grid construction has seen substantial growth, with a focus on renewable energy installations becoming the mainstay [19][18]. Industry Policies and Regulatory Environment - Numerous policies have been introduced to support the power and electrical equipment industry, emphasizing growth targets, market reforms, and rural electrification [11][13]. - Key policies include the "Power Equipment Industry Growth Stabilization Work Plan (2025-2026)" which sets revenue growth targets for traditional power equipment at around 6% annually [13][15]. Industry Operating Conditions - In the first three quarters of 2025, investment growth in power generation and grid construction continued, with a notable increase in the construction of new energy systems [17]. - The total installed power generation capacity reached 3.72 billion kW by the end of September 2025, a year-on-year increase of 17.5% [18]. Industry Competitive Landscape - The industry exhibits a pyramid-shaped competitive structure, with a high degree of marketization and significant pressure on capital occupation. The number of enterprises in the power and electrical equipment manufacturing sector exceeds ten thousand, with small and medium-sized enterprises making up a large proportion [21][22]. - The competition is particularly fierce in the low and medium voltage cable sectors, while high voltage and ultra-high voltage cable production is dominated by a few key players due to high technical barriers [21]. Industry Financial Status - The profitability of the industry is affected by the dual pressures of upstream raw material costs and downstream customer pricing. In the first half of 2025, sample enterprises saw a slight increase in operating profit, with overall revenue growth of 1.07% [27][28]. - The financial leverage of sample enterprises decreased slightly by mid-2025, remaining at a moderate level, with an average asset-liability ratio of around 58% [33][36]. Industry Bond Market Performance - The credit status of the power and electrical equipment industry remains stable, with no defaults reported in 2025. The majority of bonds issued are short-term financing bonds and general corporate bonds [39][40]. - As of the first nine months of 2025, 37 bonds were issued, primarily by local state-owned enterprises with AAA ratings, indicating a preference for short-term flexible financing [41][43].

智通财经APP讯，百利电气(600468.SH)发布公告，为响应党中央和国家"双碳"战略，顺应新型电力系统 建设趋势，把握"源网荷储"与"零碳园区"建设的重大机遇，布局智慧能源产业，研发关键技术与集成应 用，进一步提升市场竞争力，公司拟投资设立全资子公司天津百利智慧能源科技有限公司，开展源网荷 储关键装备及解决方案等相关业务，总投资为5000万元。 ...

Core Viewpoint - The successful convening of the fourth extraordinary shareholders' meeting and the first board meeting of the ninth session marks a comprehensive upgrade of the company's governance structure, laying a solid foundation for achieving carbon neutrality goals and supporting the construction of a new power system [1][3]. Governance Structure - The shareholders' meeting was conducted with a high attendance rate of 75.14%, and all proposals were passed with high votes, ensuring legal compliance [1]. - The newly elected ninth board consists of five non-independent directors and three independent directors, along with a worker representative director, highlighting a clear division of responsibilities among five specialized committees [1]. Leadership Team - Liu Guogang, with over 25 years of experience in the power industry, was elected as chairman, while Li Dinglin, with nearly 25 years of project management experience, was appointed as general manager [2]. - The new executive team includes experienced professionals in various roles, providing strong leadership for the company's high-quality development [2]. Business Development - The company successfully raised nearly 2 billion yuan through public listing in the property market for two project companies, ensuring funding for key pumped storage power station projects [2]. - The first batch of units for the Nanning pumped storage power station has entered trial operation, with all units expected to be operational by the end of the year, marking significant progress in major engineering projects [2]. Technological Innovation - The company won first prize in the "Third Energy Electronics Industry Innovation Competition" for its sodium-ion battery energy storage system project, showcasing its leading capabilities in new energy storage technology [2]. Strategic Direction - The systematic upgrade of the governance structure reflects the company's commitment to standardized and transparent governance, aiming to leverage technology, capital, and management for sustainable development [3].

两部门印发《意见》：到2030年光热发电总装机规模力争达1500万千瓦 《意见》指出，光热发电兼具调峰电源和长时储能的双重功能，能够实现用新能源调节支撑新能源，能 够为电力系统提供长周期调峰能力和转动惯量，具备在部分区域作为调峰和基础性电源的潜力，是实现 新能源安全可靠替代传统能源的有效手段，是加快构建新型电力系统的有效支撑。同时，光热发电产业 链长，规模化开发利用将成为我国新能源产业新的增长点。 "经过多年发展，我国已成功掌握塔式、槽式、菲涅尔式等主流光热发电技术，已建成全球领先的光热 发电产业链，电站单位千瓦建设成本从10年前的约3万元下降至1.5万元，度电成本降至0.6元上下，已初 步具备规模化发展的基础。"国家能源局有关负责人介绍，我国光热发展还面临初始投资大、市场竞争 能力偏弱、系统支撑调节价值未充分体现、产业技术水平仍需提升的问题。 为充分发挥光热发电对新型电力系统的支撑调节作用，《意见》明确，发挥光热发电大规模、低成本和 高安全储热系统功能，利用光热宽负荷调节范围和快速变负荷能力，发挥深度调峰能力，提升电力系统 调节能力。 聚焦加快推动光热发电技术与产业创新，《意见》要求，加快关键技术突破，促进 ...

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued opinions to promote the large-scale development of solar thermal power, aiming to support the construction of a new power system and enhance the investment and financing cycle in the sector [1][2]. Group 1: Policy Measures - The opinions propose a series of policy measures to address the bottlenecks in solar thermal power development, emphasizing problem and goal orientation [2]. - It includes the issuance of real estate investment trusts (REITs) and asset-backed securities to revitalize existing assets [1]. - The policies aim to strengthen land and policy support for solar thermal projects, ensuring a coordinated development layout for renewable energy [1][2]. Group 2: Development Goals - The overall goal is to actively promote the construction of solar thermal power projects, with a target of achieving a total installed capacity of approximately 15 million kilowatts by 2030 [1]. - The cost of electricity generated from solar thermal power is expected to be comparable to that of coal power by 2030 [1]. - The industry aims to achieve international leadership in technology and fully autonomous control, fostering a market-oriented and industrialized development [1]. Group 3: Market and Application - The opinions highlight the dual functions of solar thermal power as both a peak-shaving power source and long-duration energy storage, which can support the power system [2]. - It emphasizes the potential of solar thermal power to replace traditional energy sources safely and reliably, contributing to the construction of a new power system [2]. - The solar thermal power industry chain is extensive, and its large-scale development is expected to become a new growth point for China's renewable energy sector [2].

为破解光热发电发展瓶颈，意见坚持问题和目标导向，提出一揽子政策措施，为产业规模化发展保驾领 航。在强化规划引导方面，意见提出开展资源普查、做好光热发电发展布局和产业协同发展布局的顶层 设计安排。 同时，加强应用市场培育。意见提出在大型能源基地合理配置光热发电规模，建设一批以光热发电为主 的支撑调节型电站，探索以光热电站为基础电源的源网荷储一体化系统等光热应用市场培育。 意见称，光热发电兼具调峰电源和长时储能的双重功能，能够实现用新能源调节支撑新能源，能够为电 力系统提供长周期调峰能力和转动惯量，具备在部分区域作为调峰和基础性电源的潜力，是实现新能源 安全可靠替代传统能源的有效手段，是加快构建新型电力系统的有效支撑。同时，光热发电产业链长， 规模化开发利用将成为我国新能源产业新的增长点。 ● 本报记者 欧阳剑环 国家发展改革委12月23日消息，为更好适应新能源高质量发展需求，助力加快构建新型电力系统，国家 发展改革委、国家能源局日前印发《关于促进光热发电规模化发展的若干意见》提出，支持符合条件的 光热发电项目通过发行基础设施领域不动产投资信托基金（REITs）、资产支持证券等方式，盘活存量 资产、促进投融资良性 ...

根据中国电力企业联合会光热分会成立大会公布的数据，2020年至2024年，我国光热发电产业年度复合 增长率达11.7%，高于全球4.24%的增速，技术装备国产化率突破95%，释放出产业加速发展的强劲信 号。 12月23日，国家发展改革委、国家能源局印发《关于促进光热发电规模化发展的若干意见》(以下简称 《意见》)。《意见》指出，光热发电兼具调峰电源和长时储能的双重功能，能够实现用新能源调节支 撑新能源，能够为电力系统提供长周期调峰能力和转动惯量，具备在部分区域作为调峰和基础性电源的 潜力，是实现新能源安全可靠替代传统能源的有效手段，是加快构建新型电力系统的有效支撑。 薪火私募投资基金管理有限公司总经理翟丹对《证券日报》记者表示，《意见》为光热发电产业规模化 发展提供了清晰的方向和可量化的标准，这不仅有助于引导资源要素高效集聚，还能加速产业和市场成 熟，进而提升我国电力系统的自主可控能力，为实现"双碳"目标提供有力保障。 政策利好持续释放 《意见》提出，到2030年，光热发电总装机规模力争达到1500万千瓦左右，度电成本与煤电基本相当； 技术实现国际领先并完全自主可控，行业实现自主市场化、产业化发展，成为新能源 ...

近年来，内蒙古新能源产业起步成势，新能源总装机、发电量、绿电交易规模位列全国首位，成为自治 区经济增长的强劲动力源。联盟将以服务重大战略为己任，以科技创新为驱动，围绕新型电力系统、新 型储能、氢能等前沿领域，系统性攻关"卡脖子"技术，联合承担国家、自治区重大创新任务，推动能源 电力技术高水平自立自强，为国家能源安全、内蒙古高质量发展提供支撑。（经济日报记者 吴浩） (责任编辑：冯虎) 能源电力企业产业科技创新联盟由内蒙古电力集团牵头组建，于6月18日在呼和浩特市成立。联盟汇聚 了发电、电网、负荷、储能、数据、创新链条的70余家成员单位，致力于关键技术攻关与产业协同发 展。此次发布会将系统呈现联盟在科技创新、成果转化、产业协作方面取得的阶段性成就。 发布会现场设专题展区，通过实物、展板与数字化呈现相结合的方式，全方位展示多项技术创新、实践 案例，与会嘉宾可近距离了解联盟在新型电力系统、智能装备、新材料应用、绿色低碳等领域的突破性 进展。同时将发布一批科技创新成果，举行新型电力系统实证基地、智能机器人研发、腐蚀控制新材 料、环保电气设备等项目合作签约仪式，搭建深化合作、共谋发展的重要平台。 12月22日，能源电力 ...

中国光热发电总装机规模力争到2030年达1500万千瓦左右 中新社北京12月23日电 (记者 王梦瑶)中国国家发改委、国家能源局近日印发的《关于促进光热发电规 模化发展的若干意见》(下称《意见》)提出，到2030年，中国光热发电总装机规模力争达到1500万千瓦 左右，度电成本与煤电基本相当。 光热发电兼具调峰电源和长时储能双重功能，能够有效平抑风电、光伏发电等新能源出力的波动性，是 加快构建新型电力系统的重要支撑。经过多年发展，中国已成功掌握塔式、槽式、菲涅尔式等主流光热 发电技术，已建成全球领先的光热发电产业链，电站单位千瓦建设成本从10年前的约3万元(人民币，下 同)下降至1.5万元，度电成本降至0.6元上下，已初步具备规模化发展的基础。但另一方面，光热发展还 面临初始投资大、市场竞争能力偏弱、系统支撑调节价值未充分体现、产业技术水平仍需提升的问题。 为促进光热发电规模化发展，《意见》提出一揽子政策措施，明确2030年中国光热发电的装机规模、度 电成本、技术水平和产业建设方面等发展目标，在大型能源基地合理配置光热发电规模，建设一批以光 热发电为主的支撑调节型电站，支持光热电站通过电力市场发挥系统调节功能， ...