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【中国能源建设(3996.HK)】能源工程订单内外开花,算力中心建设蓬勃发展——经营近况点评(孙伟风/吴钰洁)
光大证券研究· 2025-03-17 09:06
Core Viewpoint - The company is expanding its presence in the renewable energy sector through significant contracts in Azerbaijan and domestic projects, driven by strong demand for energy engineering services [3]. Group 1: International Projects - On March 11, the company signed EPC contracts for two large photovoltaic projects in Azerbaijan, marking its first major undertaking in the country [2]. - The Bilasuvar project is noted as the largest photovoltaic project currently under construction in Azerbaijan, with a total capacity of 445MW [2]. - Azerbaijan aims to increase its renewable energy generation share from 20.3% in 2023 to 30% by 2030, indicating a growing market for renewable energy projects [3]. Group 2: Domestic Market Developments - The company is experiencing a surge in domestic orders due to a new electricity pricing policy that has sparked a rush for installations [3]. - Recent domestic contracts include a 75MW wind power project and multiple engineering projects for the State Grid, showcasing the company's ability to secure significant contracts [3]. Group 3: Strategic Initiatives - The company is actively participating in the construction of a national integrated computing power network, leveraging its technological advantages in green energy [4]. - Investments in data center projects are underway in several key locations, with the Gansu Qingyang data center set to begin operations in September 2024 [4]. - The company has signed a conditional share subscription agreement with Chengdi Xiangjiang to establish a "national team" for computing power centers [4].