智通财经APP获悉，交银国际发布研报称，上调信义能源(03868)目标价9.4%，从1.17港元升至1.28港 元。公司股价近期大涨后，该行认为估值吸引力有限，评级下调至"中性"。 该行指，公司2025年上半年盈利4.5亿元人民币(下同)，同比增加23.4%。由于光照较强，利用小时增长 超3%，但平均电价下降12%，低于该行预期。上半年公司已将港元借款全部置换为人民币借款，推动 期末平均借款利率环比下降0.62个百分点至2.88%。光电抢装下，该行预期短期限电风险加大。 ...

Core Insights - Jilin Province is transitioning from a coal-dominated energy structure to a diversified renewable energy model, focusing on wind, solar, and hydrogen energy [1][3][4] - The province has achieved a significant increase in installed renewable energy capacity, reaching 31.21 million kilowatts, which accounts for 63.93% of the total installed capacity [1] - Key projects include the world's largest green ammonia production facility with an annual capacity of 180,000 tons and the first large-scale green methanol production project in the country [3] Group 1: Energy Transition - Jilin Province's installed power generation capacity reached 48.81 million kilowatts by the end of June, marking a year-on-year growth of 9.62% [1] - Renewable energy sources, including hydropower, wind power, solar power, biomass, and waste-to-energy, saw a year-on-year increase of 15.79% [1] - The province is recognized as one of the first five pilot provinces for hydrogen energy in the country [1][3] Group 2: Key Projects - The Daan Wind-Solar Green Hydrogen Integrated Ammonia Demonstration Project has been launched, with an expected annual carbon reduction of 650,000 tons [3] - The Taining City Wind Power Coupled Biomass Green Methanol Integrated Demonstration Project has successfully produced the first batch of large-scale green methanol [3] - The construction of the 100,000-kilowatt solar thermal project in Baicheng is nearing completion, expected to provide 180 million kilowatt-hours of clean electricity annually [3] Group 3: Industry Development - Jilin Province is developing ten provincial-level coordinated green energy industrial parks across its eastern, central, and western regions [3] - The energy industry is shifting from traditional energy reliance to new energy driving growth, extending from renewable energy base construction to a full industrial chain [3][4] - The province is focused on creating a new energy system characterized by new energy structures, forms, and strong low-carbon supply chains [4]

潘慧敏在发布会上介绍说，截至今年6月底，我国核发分布式发电项目绿证8927万个，取得阶段性成果。但分布式发电项 目数量巨大，核发覆盖率仍有待提高。为统筹做好分布式发电项目绿证核发，国家能源局按照先行先试、分步实施原则， 今年在浙江、河南、广东三个省探索开展分布式可再生能源发电项目绿证核发工作，为后续全国推广提供经验借鉴，主要 举措包括四个方面内容：一是推进项目建档立卡，二是做好电量数据归集，三是分类实施绿证核发，四是规范开展绿证划 转。 "《浙江、河南、广东省分布式可再生能源发电项目绿证核发工作方案》已于近日印发，其他地区也可以结合当地实际参照 该方案推进相关工作。"潘慧敏表示。（安娜） （来源：新华财经） 国家能源局7月31日发布的数据显示，今年上半年，全国共计核发绿证13.71亿个，其中可交易绿证9.58亿个，同比增长 1.49倍，云南省、内蒙古自治区和四川省绿证核发数量均超过1亿个。 在绿证供给增加的同时，交易规模实现翻倍。"今年上半年，全国共计交易绿证3.48亿个，同比增长1.18倍，其中单独交易 绿证2.42亿个、绿色电力交易对应绿证1.07亿个。"国家能源局新能源和可再生能源司副司长潘慧敏当日在国 ...

Core Insights - The National Energy Administration reported that renewable energy generation has reached a new milestone, accounting for nearly 40% of the total national electricity generation, surpassing the combined electricity consumption of the tertiary industry and urban-rural residents [1] Renewable Energy Generation - In the first half of the year, the total renewable energy generation reached 1,799.3 billion kilowatt-hours, a year-on-year increase of 15.6%, representing 39.7% of total electricity generation [1] - Wind and solar power generation combined reached 1,147.8 billion kilowatt-hours, a year-on-year growth of 27.4%, contributing to 23.7% of total electricity consumption, an increase of 4.4 percentage points compared to the same period last year [1] - The increase in wind and solar generation was 247 billion kilowatt-hours compared to the same period last year, exceeding the overall increase in electricity consumption [1] Solar Power Development - In the first half of the year, 212 million kilowatts of new solar capacity was connected to the grid, with approximately 100 million kilowatts from centralized solar and 113 million kilowatts from distributed solar [1] - By the end of June 2025, the total installed capacity of solar power in the country is expected to reach approximately 1,100 million kilowatts, a year-on-year increase of 54.1%, with centralized solar accounting for 606 million kilowatts and distributed solar for 493 million kilowatts [1] - Cumulative solar power generation in the first half of the year was 559.1 billion kilowatt-hours, a year-on-year increase of 42.9%, with an average utilization rate of 94% [1]

Core Insights - The National Energy Administration issued 278 million green certificates in June, representing a month-on-month increase of 29.33% [1] - A total of 1.987 million renewable energy projects were involved, with 196 million tradable green certificates, accounting for 70.64% of the total [1] - From January to June, the total number of green certificates issued reached 1.371 billion, with 958 million being tradable [1] Green Certificate Trading - In June, 60.91 million green certificates were traded nationwide, including 10.33 million green electricity trading certificates [1] - The total number of green certificates traded from January to June was 348 million, with 10.7 million being green electricity trading certificates [1] - The average trading price for green certificates in June was 3.40 yuan per certificate, reflecting a month-on-month increase of 24.77% [1]

Green Certificate Issuance - In June 2025, the National Energy Administration issued 278 million green certificates, a month-on-month increase of 29.33%, covering 198,700 renewable energy generation projects, with 196 million being tradable green certificates, accounting for 70.64% [1] - From January to June 2025, a total of 1.371 billion green certificates were issued, of which 958 million were tradable [1] Renewable Energy Generation Types - In June, the issuance of green certificates by renewable energy generation type included: - Wind power: 11,078 - Solar power: 6,994 - Conventional hydropower: 8,226 - Biomass power: 1,330 - Other renewable energy: 171 - Total green certificates issued in June: 27,799, and from January to June: 1,371,122 [3] Green Certificate Trading - In June 2025, a total of 60.91 million green certificates were traded nationwide, with 10.33 million being green electricity trading certificates. From January to June, 348 million green certificates were traded, including 107 million green electricity trading certificates [4] - In June, the average trading price of green certificates was 3.40 yuan per certificate, with a month-on-month increase of 24.77% [6] Trading by Renewable Energy Generation Types - In June, the trading of green certificates by renewable energy generation type included: - Wind power: 2,927 - Solar power: 2,364 - Biomass power: 678 - Other renewable energy: 122 - Total green certificates traded in June: 6,091, and from January to June: 34,826 [6]

国家能源局举行新闻发布会 可再生能源发电量再上新台阶。可再生能源发电量接近全国总发电量的四成，超过同期第三产业用电量 与城乡居民生活用电量之和。风电、光伏新增发电量超过全社会用电量增量。今年上半年，全国可再生 能源发电量达17993亿千瓦时，同比增加15.6%，约占全部发电量的39.7%，超过同期第三产业用电量 （9164亿千瓦时）与城乡居民生活用电量（7093亿千瓦时）之和；其中，风电、太阳能发电量合计达 11478亿千瓦时，同比增长27.4%，在全社会用电量中占比达到23.7%，较去年同期提高4.4个百分点。风 电、光伏合计发电量较去年同期增加2470亿千瓦时，超出全社会用电量增量。下面，分别介绍主要可再 生能源发电品种的有关情况。 （一）水电建设和运行情况。2025年上半年，全国新增水电并网容量393万千瓦，其中常规水电110万千 瓦，抽水蓄能283万千瓦。截至今年6月底，全国水电累计装机容量达4.4亿千瓦，其中常规水电3.79亿千 瓦，抽水蓄能6129万千瓦。今年上半年，全国规模以上水电累计发电量5398亿千瓦时，全国水电累计平 均利用小时数为1377小时。 （二）风电建设和运行情况。今年上半年，全国 ...

Core Insights - Renewable energy is not only cost-competitive compared to fossil fuels but also reduces dependence on international fuel markets and enhances energy security [1][2] - The business case for renewable energy is stronger than ever, driven by technological advancements and improved supply chains, although short-term challenges remain [2][5] - International cooperation is essential to protect the achievements of the energy transition, ensuring open and resilient supply chains, and establishing stable policy and investment frameworks [5] Cost Competitiveness - In 2024, solar photovoltaic power is expected to be 41% cheaper than the lowest-cost fossil fuel electricity, while onshore wind projects will be 53% cheaper [1] - Onshore wind remains the most affordable new renewable energy source at $0.034 per kilowatt-hour, followed by solar photovoltaic at $0.043 per kilowatt-hour [1] - The addition of 582 gigawatts of new renewable energy capacity in 2024 is projected to save approximately $57 billion in fossil fuel costs [1] Structural Challenges - Rising costs in Europe and North America are influenced by structural challenges such as permitting delays and limited grid capacity, while regions like Asia, Africa, and South America may see significant cost reductions due to their renewable energy potential [2] - Integration costs are becoming a new constraint for renewable energy deployment, particularly in G20 and emerging market countries, necessitating accelerated grid investments [3] Financing and Investment - Financing costs are a critical factor in project feasibility, with high capital costs in many developing countries significantly increasing the levelized cost of electricity (LCOE) for renewables [3] - Stable and predictable revenue frameworks are crucial for reducing investment risks and attracting capital, with tools like Power Purchase Agreements (PPAs) playing a key role [2] Technological Advancements - Battery storage systems and hybrid systems combining solar, wind, and storage are increasingly vital for integrating intermittent renewable energy [4] - The cost of utility-scale storage systems is projected to reach $192 per kilowatt-hour by 2024, a 93% decrease since 2010, driven by manufacturing scale and technological improvements [3] Future Outlook - The total savings from all operational renewable energy projects in 2024 are estimated to reach $467 billion in fossil fuel costs [5] - The transition to renewable energy is irreversible, but its pace and equity depend on today's choices regarding international cooperation and investment frameworks [5]

Core Insights - Croatia's energy sector shows a significant reliance on imported electricity despite a high share of renewable energy capacity [2][3] - The renewable energy generation in Croatia has reached a record high, with a notable increase in wind and solar power output [2] Group 1: Renewable Energy Capacity - As of early July, Croatia's total installed power generation capacity is 5793 MW, with renewable energy accounting for 4733 MW, representing 81.7% of the total [2] - Non-renewable energy capacity stands at 1060 MW, making up 18.3% of the total [2] Group 2: Electricity Generation Breakdown - In Q2, the total electricity generation from renewable sources, including hydropower, was 2506 GWh, marking a 20.3% year-on-year increase [2] - Wind power generation reached 723 GWh (+44.3%), solar power 338 GWh (+71.6%), and biomass and biogas 231 GWh (+5.5%) [2] - Hydropower contributed 1190 GWh (27.3%), while nuclear power from the Krško plant generated 758 GWh (17.4%), and thermal power produced 285 GWh (6.5%) [2] Group 3: Electricity Imports - Electricity imports amounted to 754 GWh, accounting for 17.3% of total generation, with an estimated import cost of nearly €64 million at an average market price of €84.69/MWh [2] Group 4: Future Outlook and Recommendations - The Renewable Energy Association emphasizes the need to accelerate renewable energy project development to reduce dependence on imports and ensure stable energy supply amid changing climate and market conditions [3] - Investment in grid and energy storage systems is crucial for establishing a modern, flexible grid that can integrate renewable energy and enhance system stability [3]

Core Viewpoint - The document outlines a plan for the issuance of green certificates for distributed renewable energy generation projects in Zhejiang, Henan, and Guangdong provinces, aiming for full coverage by the end of 2025 [1]. Group 1 - The National Energy Administration has developed a work plan for the issuance of green certificates for distributed renewable energy projects in the specified provinces [1]. - The initiative is part of a broader effort to promote renewable energy consumption as mandated by the National Development and Reform Commission, the Ministry of Finance, and the National Energy Administration [1]. - The goal is to achieve basic coverage of green certificate issuance for distributed projects by December 2025 [1]. Group 2 - Other regions are encouraged to adapt this plan according to their local circumstances to advance the issuance of green certificates for distributed projects [2].