Core Viewpoint - The Ningxia to Hunan ±800 kV UHVDC transmission project, known as "Ningdian Ruxiang," has been fully commissioned, with a maximum transmission capacity of 8 million kW, capable of delivering 36 to 40 billion kWh of electricity annually to Hunan [1] Group 1: Project Overview - The project spans 1,616 kilometers, starting from Zhongning Converter Station in Ningxia and passing through Gansu, Shaanxi, Chongqing, and Hubei before reaching Hengyang Converter Station in Hunan, with a total investment of 28.1 billion yuan [1] - The project faced significant challenges due to its long distance and complex geographical environment [1] Group 2: Key Equipment - High-end converter transformers, regarded as the "heart" of UHVDC projects, play a crucial role in the conversion of AC to DC and in voltage and power regulation [1] - The Hengyang Converter Station features 14 high-end converter transformers independently designed and manufactured by TBEA, marking a significant achievement in domestic production capabilities [1] Group 3: Technological Advancements - TBEA enhanced the manufacturing precision and reliability of the transformers by reducing the number of welding points from over 450 to 42, improving reliability by tenfold and significantly increasing short-circuit resistance [2] - The transformers were designed to maintain a temperature rise below 35K, compared to the industry average of 40K, thereby extending their operational lifespan [2] Group 4: Supporting Infrastructure - The Zhongning Converter Station was custom-designed with earthquake-resistant epoxy resin impregnated paper capacitive DC bushings to ensure safe operation in a seismically active area [3] - TBEA upgraded traditional manufacturing processes to high-precision CNC plasma cutting systems to meet the high stability requirements for transformer oil tanks [3] - Innovative steel core aluminum stranded wire products were developed using an intelligent production system, enhancing production efficiency and ensuring high-quality conductors with micron-level precision [3]

Core Insights - The "Ningdian Ruinxiang" project is expected to significantly enhance electricity supply in Hunan province during the summer peak, with a maximum load forecasted to exceed 50 million kilowatts, representing an 8.4% year-on-year increase [1] - The project will contribute to the local economy by accelerating the release of benefits from the renewable energy industry chain, benefiting upstream, midstream, and downstream companies [1][2] - The project is set to achieve a transmission capacity of 8 million kilowatts and an annual transmission volume of 40 billion kilowatt-hours, accounting for 16% of Hunan's annual electricity consumption [1] Upstream Industry - The "Ningdian Ruinxiang" project breaks the bottleneck of renewable energy generation in western regions, allowing for increased production of renewable energy generation equipment [2] - Companies involved in renewable energy equipment manufacturing are expected to ramp up production to support projects in regions like Xinjiang, Qinghai, and Gansu [2] Midstream Industry - The project has prompted transmission and transformation equipment manufacturers to follow the bidding steps of the State Grid, aiding in the construction of power channels in central and western China [2][3] Downstream Industry - Electricity supply from the "Ningdian Ruinxiang" project allows downstream companies, such as Hunan Hualing Steel and SANY Heavy Industry, to significantly reduce energy costs and improve carbon emission performance [3][4] - SANY Heavy Industry is utilizing green electricity from the western regions to replace traditional coal power, leading to a notable decrease in carbon emissions during production [4] Equipment Supply - TBEA Co., Ltd. is a key supplier for the "Ningdian Ruinxiang" project, providing essential equipment such as high-end converter transformers and high-voltage capacitors [3] - The company has achieved a 100% first-time test pass rate for its delivered equipment, ensuring the project's operational reliability [3]