Workflow
未知机构：长江电新上能电气中标沙特PIF4项目26GW逆变器中东非光储仍存较大-20241121
2024-11-21 02:10

Summary of Conference Call Records Company and Industry Involved - Company: 上能电气 (Sungrow Power Supply Co., Ltd.) - Industry: Photovoltaic and Energy Storage in the Middle East and Africa Key Points and Arguments Company Achievements - 上能电气 announced winning the bid for the Saudi PIF-4 photovoltaic project, supplying 2.6GW in inverters, which includes 1GW for the Haden project contracted to China Energy Engineering and 1.6GW for the Al-Hussabi project contracted to India's L&T [1] - The total capacity of the PIF-4 photovoltaic project is 5.5GW, with 上能电气's share reaching 47%, expected to complete delivery by the first half of 2025 [1] - The current orders on hand are projected to support a more than doubling of inverter shipments in the Middle East and Africa by 2025 [1] Industry Outlook - The Middle East and Africa's photovoltaic and energy storage market is expanding, with an expected tendering capacity of over 40GW by 2025, including significant projects in Saudi Arabia, UAE, Iraq, Algeria, and Egypt [2] - Specific projects include the Saudi PIF-6 with a scale of 13GW and NERP-5 and NERP-6 with 3.7GW and 3GW respectively, contributing to a total of at least 19.7GW to be tendered in 2025 [2] - In energy storage, projects exceeding 40GWh are anticipated from SEC, SPPC, and other regions [2] Company Growth Projections - In Q4, 上能电气 expects to achieve 1GW in shipments for large-scale energy storage in the U.S., which will significantly enhance performance flexibility [2] - The company is poised to increase its market share as orders in the Middle East and other regions continue to materialize, with projected overseas energy storage shipments expected to grow substantially [2] - For 2025, inverter shipments in India are expected to reach 9GW (up 50% year-on-year), while shipments in the Middle East and Africa are projected at 5GW (up 150% year-on-year) [2] - In energy storage, the company anticipates 2GW shipments in the U.S. (doubling year-on-year), 2GW in the Middle East, and 1GW in Europe [2] Profitability and Market Position - The increase in overseas shipments is expected to bring significant profit elasticity to 上能电气 [3]