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。近日，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》），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，成为新能源领域具有国际竞争优势的新产业。 国家能源局有关负责人介绍，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，光热发电已 初步具备规模化发展的基础。但另一方面，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》。"上述负责人说。 为破解光热发电发展瓶颈，《意见》提出一揽子政策措施 ...

据国家电网有限公司(以下简称"国家电网")发布的消息，12月18日，我国首个深入川藏高原腹地的特高 压工程——国家电网金上到湖北正负800千伏特高压直流输电工程建成投运。国家电网年内累计建成投 运4条特高压直流工程。 国电南瑞（600406）科技股份有限公司通过持续的研发创新，保持行业领先地位。该公司相关负责人在 上证e互动平台公开表示："在高压领域，公司重点突破特高压柔性直流输电所需的高耐压器件，着力解 决多芯片并联时的电流均衡难题，相关技术已开始支撑正负800千伏特高压工程建设。" 苏商银行特约研究员付一夫在接受《证券日报》记者采访时表示："特高压工程具有重要的战略意义， 它能够实现全国范围内清洁能源优化配置，推动能源结构绿色低碳转型。" 特高压工程持续推进 据悉，金上到湖北正负800千伏特高压直流输电工程总投资334亿元，起于金沙江上游，止于湖北黄石大 冶换流站，输电距离近1900公里。国网湖北电力特高压工程建设管理办公室副主任吴子良在接受媒体采 访时表示，工程投运后，每年输电能力相当于湖北省全年用电量的六分之一。不仅能大幅提升湖北区外 受电的清洁化比例，还能增强电力余缺互济、时空互补能力，助力湖北实现 ...

[ 责编：张佳兴 ] 据内蒙古自治区能源局最新消息，截至2025年11月底，内蒙古新能源装机规模达到1.54亿千瓦。其中， 风电装机规模达到10033万千瓦，在全国率先破亿。 今年1—11月，内蒙古全区新能源累计发电量2500亿千瓦时，同比增长33%。其中，外送电量870亿千瓦 时，同比增长46%；本地消纳1630亿千瓦时，同比增长21%，占全社会用电量的32.8%，约相当于每用3 度电就有1度电来自新能源，能源结构绿色低碳转型成效明显。（侯倩） ...

Core Insights - The financial assets of China National Petroleum Corporation (CNPC) have exceeded 1.1 trillion yuan, with total managed assets surpassing 1.6 trillion yuan, indicating a successful exploration of a unique path for industrial groups to engage in financial services [1][2] Group 1: Financial Development - CNPC's financial business began in 1995 and has evolved over 30 years, focusing on the integration of industry and finance, promoting production through finance, and establishing a comprehensive financial product and service system tailored to the oil and gas industry [1] - The company has developed a robust financial risk prevention and isolation mechanism, enhancing its resilience and overall competitiveness [1] Group 2: Energy Transition Strategy - CNPC is accelerating the transition to a clean, low-carbon energy structure through a three-step strategy: "clean substitution, strategic replacement, and green transformation" [2] - The company aims to establish a new energy production and supply system that is clean, low-carbon, safe, efficient, and complementary across multiple energy sources, while enhancing the service and value creation capabilities of its financial and capital operations [2]

Investment Rating - The report maintains a "Buy" rating for the industry, indicating a positive outlook for investment opportunities in the power sector [6]. Core Views - Leading power companies have announced dividend commitments, enhancing expectations for shareholder returns and reinforcing the dividend advantage of the power sector, which is considered to have long-term investment value [4][16]. - In July, solar power installations added 11 GW, while wind and solar installations saw a continued decline compared to June. As of the end of July, the total installed power generation capacity in the country reached 3.67 billion kilowatts, a year-on-year increase of 18.2% [4][16]. Summary by Sections Industry Outlook - Leading power enterprises have released dividend plans, strengthening dividend expectations and enhancing the high dividend value of the power sector. For instance, Changjiang Power announced a profit distribution plan for 2026-2030, committing to a cash dividend of no less than 70% of the net profit attributable to shareholders, with an expected dividend yield of 3.5% for 2025 [4][16]. - Guodian Power also announced a cash dividend plan for 2025-2027, committing to distribute at least 60% of the net profit attributable to shareholders, with a minimum cash dividend of 0.22 RMB per share, leading to an expected dividend yield of 5.3% for 2025 [4][16]. Market Performance - The Shanghai Composite Index closed at 3825.76 points, up 3.49%, while the CSI 300 Index closed at 4378.00 points, up 4.18%. The CITIC Power and Utilities Index closed at 3051.63 points, up 1.59%, underperforming the CSI 300 Index by 2.58 percentage points [54][55]. Key Company Recommendations - The report recommends focusing on undervalued green power sectors, particularly in Hong Kong and wind power operators. Specific companies to watch include Xintian Green Energy (H), Zhongmin Energy, and Funeng Shares. It also suggests monitoring flexible thermal power companies such as Huaneng International and Huadian International, as well as leaders in thermal power flexibility transformation like Qingda Environmental Protection and Huaguang Huaneng [4][16]. Installed Capacity Data - As of the end of July, the cumulative installed capacity for solar power reached 1.11 billion kilowatts, a year-on-year increase of 50.8%, while wind power capacity reached 570 million kilowatts, up 22.1% year-on-year. However, the monthly additions for solar and wind power saw a decline compared to June [4][16].

Group 1 - The core viewpoint is that China is actively promoting a green and low-carbon energy structure transition over the past five years, enhancing the green and low-carbon transportation system and improving urban and rural construction levels [1][3] - The proportion of coal consumption in China has decreased from 56.8% in 2020 to 53.2% in 2024, while the share of non-fossil energy consumption has increased from 15.9% to 19.8% [1] - As of June 2023, China's renewable energy installed capacity reached 2.159 billion kilowatts, accounting for approximately 59.2% of the total installed capacity, making it the largest and fastest-growing in the world [1] Group 2 - In 2024, the proportion of newly built green buildings in urban areas is expected to exceed 97%, with the cumulative area of energy-efficient buildings surpassing 66% of existing urban buildings [3] - The area of clean heating in northern regions has reached 20.9 billion square meters, representing a nearly 50% increase since 2020 [3]

Core Insights - Beijing's energy structure has undergone a historic optimization, with coal consumption decreasing from 21.8 million tons in 2012 to less than 600,000 tons by 2024, accounting for less than 1% of total energy consumption [1] Group 1 - The city will focus on enhancing innovation in energy-saving, hydrogen energy, and energy storage industries [1] - The basic direction for energy transformation is defined as "energy saving, increasing greenery, reducing gas, minimizing oil, and clean coal" [1] - The goal is to comprehensively improve the quality of energy infrastructure development [1]