报道称，根据调整后的第八电力规划，到2030年，越南电力总装机容量约达15万兆瓦，为目前的近 两倍，其中，可再生能源约占36%，2050年进一步提升至75%。与此同时，预计2030年峰值负荷需求翻 倍，2050年将增至目前的4—5倍。为满足这一发展规模，必须扩建220—500千伏输电系统，2030年工程 建设和改造量将是现在的两倍。同时，核电、柔性交流输电系统（FACTS）、高压直流输电 （HVDC）、储能系统（BESS）等新技术以及区域电网互联的出现，迫切需要投资建设一个现代化、 具有先进技术集成能力、能够高精度实时监控电力系统的控制中心。 越南国家电力和北部电力调度中心项目位于河内市安和坊，占地3810平方米，规模为地上21层、地 下3层，总建筑面积逾3.9万平方米，总投资约8700亿越南盾（约合3300万美元），预计将于2028年竣 工。 （原标题：越动工兴建国家电力调度中心） 越南《工商报》8月20日报道，越南国家电力和北方电力调度中心建设项目动工仪式当日上午在河 内举行，越工贸部长阮鸿延出席仪式。 ...

Investment Rating - The report rates the industry as "Outperform" compared to the market [1] Core Insights - The integrated circuit manufacturing sector leads the electronic industry, with a weekly increase of 7.55% [2] - The launch of the Yajiang Hydropower Project is expected to accelerate the development of High Voltage Direct Current (HVDC) technology, with a total investment of approximately 1.2 trillion yuan [5][6] - The global HVDC market is projected to grow from $10.94 billion in 2024 to $11.70 billion in 2025, reflecting a year-on-year increase of 6.9% [7][24] - The domestic market for thyristors is expected to grow significantly, from 1.582 billion yuan in 2020 to 3.096 billion yuan in 2024, with a compound annual growth rate of approximately 18.3% [26] Summary by Sections 1. HVDC Overview - The Yajiang Hydropower Station will alleviate the imbalance in water and electricity supply in the region, with the southwestern area holding 70% of China's water energy resources [9][11] - HVDC technology has evolved through three generations, with the second generation (LCC) being the most mature and widely used for ultra-high voltage direct current (UHVDC) applications [17][20] 2. Market Demand for Thyristors - The demand for thyristors in the HVDC market is continuously increasing, driven by the expansion of high-voltage direct current projects [22][26] - The domestic market for thyristors is dominated by companies such as JieJie Microelectronics and Times Electric, which hold significant market shares [27][34] 3. Investment Opportunities - The report suggests focusing on investment opportunities in the thyristor market, particularly with companies like JieJie Microelectronics and Times Electric, which are closely linked to the HVDC industry [8][34] - JieJie Microelectronics has achieved full control over the thyristor supply chain and has recently patented technology to enhance thyristor performance [34] - Times Electric has introduced a new series of high-voltage thyristors, filling a domestic gap and contributing to the localization of ultra-high voltage projects [37]

Group 1 - Kazakhstan's Energy Minister Erlan Akhmetzhanov announced that the country is advancing 30 renewable energy projects with a total installed capacity of 1,700 megawatts, covering solar, wind, and energy storage sectors [3][4] - The cooperation between Kazakhstan and China has evolved beyond mere raw material trade, focusing on building a technology-intensive industrial ecosystem [3] - Several cooperation agreements were signed during the Central Asia-China Energy Forum, including strategic partnerships in local production, research and development, and decarbonization funds [3][4] Group 2 - The forum aims to deepen technological and investment cooperation in energy transition between Kazakhstan, China, and other Central Asian countries, promoting digitalization and sustainable industrial development in the energy sector [4]

Core Viewpoint - The article highlights the increasing global demand for High Voltage Direct Current (HVDC) projects, particularly in Europe, driven by the need for grid interconnection and long-distance renewable energy transmission, which is expected to catalyze performance for related manufacturers [1][3]. Group 1: Market Dynamics - European countries are actively planning HVDC projects, with an estimated 100GW expected to be operational in the next decade, particularly in the UK, Germany, and Italy [3][17]. - The average annual production value of overseas HVDC converter systems is projected to exceed $10 billion from 2025 to 2030, with a CAGR of 21% [3][40]. - The supply side of the HVDC market is highly concentrated among local manufacturers, leading to high barriers to entry and extended delivery times for key components [3][42]. Group 2: Regional Insights - In the UK, there are currently 9 operational interconnectors with a total capacity of 9.8GW, and 4 additional projects are under construction, expected to be operational by 2030 [17]. - Italy's Terna plans to invest over €21 billion in its transmission network over the next decade, with significant HVDC projects planned to enhance interconnection capacity [18]. - Germany is positioned at the core of the European interconnected grid, with approximately 4.2GW of HVDC interconnectors and additional projects planned [18]. Group 3: Technological Advancements - HVDC technology is favored for large-scale, long-distance power transmission due to its higher reliability and efficiency, with energy losses 30-50% lower than High Voltage Alternating Current (HVAC) systems [6][7]. - The VSC-HVDC technology is increasingly adopted in Europe, providing flexibility and stability for offshore wind power integration [6][7]. Group 4: Emerging Markets - Emerging markets in Asia, Africa, and Latin America are beginning to explore HVDC projects, driven by energy transition needs and grid interconnection demands [35][36]. - The Middle East and North Africa region is witnessing significant planning for HVDC projects to address mismatches between energy resources and load centers [35][36]. Group 5: Key Players - The HVDC converter market is dominated by three major players: Hitachi Energy, Siemens Energy, and GE Vernova, which collectively hold over 90% of the market share [42][44]. - European cable manufacturers, including Prysmian, Nexans, and NKT, lead the HVDC cable market, while Asian companies are gradually entering the market [46].