2月2日，中国电力企业联合会发布《2025—2026年度全国电力供需形势分析预测报告》（以下简称《报 告》）。 侯文捷向21世纪经济报道记者表示，在国家"双碳"目标下，新能源继续保持较大投产规模，预计2026年 全年新增发电装机有望超过4亿千瓦，其中，新增新能源发电装机有望超过3亿千瓦；新增有效发电能力 1亿千瓦左右，与最大负荷增量基本持平。 风、光装机合计占比有望达到总装机的一半左右，其中太阳能发电装机规模预计将首次超过煤电装机规 模。预计2026年底，全国发电装机容量达到43亿千瓦左右，其中，非化石能源发电装机27亿千瓦，占总 装机的比重在63%左右；煤电装机占总装机比重降至31%左右。 在电力供需方面，《报告》预计， 2026 年全国电力供需总体平衡。 在电力消费方面，《报告》预计，2026年全社会用电量同比增长5%—6%。 中国电力企业联合会统计与数智部主任侯文捷向21世纪经济报道记者表示，综合考虑我国目前阶段经济 增长潜力、国民经济和社会发展第十五个五年规划建议、国家宏观调控政策措施，预计2026年我国宏观 经济将继续保持平稳增长，拉动电力消费需求平稳较快增长。 按照2026年我国GDP预计增长5% ...

太阳能公告，近日，工业和信息化部办公厅公布《关于公布重大 环保技术装备创新任务揭榜挂帅入围 单位的通知》（工信厅节函〔2026〕40号），在" 光伏组件层压件绿色高效分离成套技术与装备"专项 任务申报中，中节能太阳能股份有限公司下属全资子公司中节能太阳能科技有限公司牵头组建的攻关团 队凭借领先的工艺技术优势成功入围。公司将严格按照揭榜任务要求，聚焦关键环保技术难题，组织精 锐研发团队开展集中技术攻关，并积极推进技术成果的应用验证与产业化落地。 ...

中国电力企业联合会预测，2026年，太阳能发电装机规模将首次超过煤电装机规模，年底风电和太阳能 发电合计装机规模达到总发电装机的一半。 ...

Core Viewpoint - SOLV Energy announced its IPO terms, aiming to raise $482 million by offering 20.5 million shares at a price range of $22 to $25, resulting in a market capitalization of $4.7 billion and an enterprise value of $4.6 billion [1] Group 1: Company Overview - SOLV Energy, formerly known as Swinerton Renewable Energy, was acquired by American Securities in 2021 and specializes in infrastructure services for solar and battery storage projects [2] - The company focuses on utility-scale solar and battery storage projects with capacities of 200 MWdc and above, having constructed over 500 power plants with a total installed capacity of 20 GWdc since its establishment in 2008 [2] - SOLV Energy is recognized as the second-largest solar contractor in the U.S. and the seventh overall contractor in the power industry based on projected revenue for 2024 [2] Group 2: Financial Performance - For the nine months ending September 30, 2025, SOLV Energy reported a 21% revenue growth to $1.7 billion, with a gross margin increase of 625 basis points to 19% [2] - Adjusted EBITDA grew by 115% to $241.3 million, with an adjusted EBITDA margin increase of 625 basis points to 14% [2] - The company recorded $2.1 billion in sales for the 12 months ending September 30, 2025 [3] Group 3: IPO Details - SOLV Energy plans to list on NASDAQ under the ticker symbol MWH, with Jefferies, J.P. Morgan, and several other banks serving as joint bookrunners for the IPO [3] - Post-IPO, American Securities will retain a 75% ownership stake in the company [2]

Investment Rating - The report maintains a "Buy" rating for the public utility sector [6] Core Insights - The commercial model of the power sector is continuously transforming, with a reduced reliance on annual long-term contracts for electricity and prices. The sector is shifting towards mid-to-long-term markets, spot markets, and capacity markets, indicating a comprehensive push for marketization [19][3] - The capacity price mechanism is being refined, with the aim to optimize the electricity market and ensure fair compensation reflecting the contributions of different power plants to peak demand [15][3] - The report highlights the importance of capacity market development, with current subsidies in Gansu and Yunnan reaching 330 RMB/kW·year, which helps offset the decline in electricity prices [19][3] Summary by Sections Market Performance - The SW public utility sector index fell by 1.66% this week, ranking 16th among 31 SW sectors. In comparison, the CSI 300 index rose by 0.08%, while the Shanghai Composite Index and Shenzhen Component Index fell by 0.44% and 1.62%, respectively [33][33] - Within sub-sectors, thermal power decreased by 2.78%, hydropower increased by 0.3%, while solar and wind power fell by 4.53% and 2.49%, respectively [33][33] Price Updates - Domestic and imported thermal coal prices have rebounded slightly, with domestic Qinhuangdao port 5500 kcal thermal coal rising by 4 RMB/ton, remaining below 700 RMB/ton. Imported coal prices also saw a slight increase [12][12] - The average clearing price for electricity in Shanxi and Guangdong has significantly increased due to cold weather, while the monthly agent purchase electricity costs are trending upwards due to rising capacity prices and the entry of renewable energy into the settlement cycle [13][12] Key Events - The National Development and Reform Commission and the National Energy Administration issued a notice to improve the capacity price mechanism for power generation, which includes optimizing compensation for coal and gas power generation [3][15] - Recent policy changes include relaxing the annual long-term contract signing ratio for coal-fired power companies and the cancellation of time-of-use electricity pricing in multiple regions [3][15] Recommendations - The report suggests focusing on national thermal power operators such as Huaneng International and Guodian Power, which are expected to maintain stable cash dividends. The profitability of thermal power is anticipated to gradually detach from coal cost dependency, shifting towards multiple influencing factors [19][3] - For long-term stable investment needs, the report recommends attention to companies like Yangtze Power, State Power Investment Corporation, and China National Nuclear Power [19][3]

Core Viewpoint - The "African Light Belt" project, initiated by China, aims to provide solar energy solutions to address electricity shortages in Africa, particularly benefiting over 5,000 households in São Tomé and Príncipe by 2025 [12][17]. Group 1: Project Overview - The "African Light Belt" project was announced at the first African Climate Summit in September 2023, focusing on photovoltaic technology assistance and clean energy infrastructure development [12]. - The project plans to deliver 3,100 solar home systems to São Tomé and Príncipe by June 2025, with the first beneficiaries already experiencing improved living conditions [12][14]. - The project has already installed solar photovoltaic systems for over 200 households in São Tomé and Príncipe, with plans to cover 924 households across 37 communities by May 2025 [14][19]. Group 2: Impact on Local Communities - The installation of solar panels has significantly improved the quality of life for residents, allowing them to use appliances like televisions and radios, and reducing reliance on noisy and expensive diesel generators [14][16]. - In Colonia Village, the solar systems have enabled families to enjoy electricity for the first time, enhancing their daily activities and overall happiness [14][19]. - The project also aims to address the energy needs of agricultural activities, thereby increasing household incomes and encouraging young people to return to their communities [18][19]. Group 3: Technical Training and Collaboration - Chinese technical teams are providing on-site training for local engineers on installation and maintenance of solar systems, ensuring sustainability and local capacity building [18]. - The project includes knowledge transfer initiatives, where African officials and technicians are invited to China for training, enhancing their skills in renewable energy technologies [18]. - The collaboration between China and São Tomé and Príncipe exemplifies South-South cooperation in addressing climate change and energy challenges [18][19].

Market Performance - The Hong Kong stock market opened lower on January 30, with the Hang Seng Index dropping by 496.82 points, a decline of 1.78%, closing at 27,471.27 points [1] - The Hang Seng Tech Index fell by 104.83 points, down 1.79%, to 5,736.27 points, while the National Enterprises Index decreased by 2.08% to 9,354.3 points [1] - Major tech stocks experienced declines, with Alibaba down 2.71%, Tencent down 1.53%, and JD Group down 1.4% [1] Company Earnings Forecasts - Guoquan (02517.HK) expects revenue for 2025 to be approximately 7.75 billion to 7.85 billion yuan, a year-on-year increase of about 19.8% to 21.3%, with net profit projected at 443 million to 463 million yuan, up 83.7% to 92.0% [2] - Sunny Optical Technology (02382.HK) anticipates a net profit of 4.5886 billion to 4.7235 billion yuan for 2025, representing a year-on-year increase of approximately 70.0% to 75.0% [3] - Baidu (02315.HK) forecasts revenue of 1.369 billion to 1.389 billion yuan for 2025, with a net profit of 162 million to 182 million yuan, reflecting a significant increase of 384.26% to 443.88% [3] - Spring Medical (01858.HK) expects a net profit of 245 million to 288 million yuan for 2025, an increase of 96.01% to 130.41% [4] - Encounter Small Noodles (02408.HK) projects a net profit between 100 million to 115 million yuan for 2025, an increase of approximately 64.7% to 89.5% [5] - Macro Credit Development (09930.HK) issued a profit warning, expecting a decline in shareholder profit by 70% to 90% for 2025 [6] - Financial Street Securities (01476.HK) issued a profit alert, expecting a shareholder profit increase to approximately 327 million yuan for 2025 [7] Industry Insights - China Railway (00390.HK) recently won several major engineering contracts with a total bid amount of approximately 43.292 billion yuan [8] - New天绿色能源 (00956.HK) reported a cumulative power generation of 15.2104 million MWh for 2025, a year-on-year increase of 7.71% [9] - Huayi Pharmaceutical (01276.HK) received acceptance for a new indication application for its innovative drug, which may become a new treatment option for patients with unresectable liver cancer [9] - Citic Securities suggests focusing on three main lines in the short term: biomanufacturing, embodied intelligence, and 6G technology [11] - Guoyuan International believes that the Hong Kong stock market may continue to outperform the US market due to factors such as fiscal cliffs and geopolitical issues, benefiting from the low long-term valuation levels [12]

中方工作人员对圣普工作人员进行技术培训和安装指导。生态环境部对外合作与交流中心提供 圣普工作人员在村民屋顶安装太阳能板。生态环境部对外合作与交流中心提供 "灯泡亮起来那一刻，在场的人都鼓起掌来。"里瓦尔多说。 "孩子们在学校学过太阳能发电原理，但没人真的见过。"他的妻子艾拉说，"如今太阳能发电设备已经 安装在家里，改变了我们的生活！" 里瓦尔多一家住在科洛尼亚村，距离圣多美和普林西比（以下简称"圣普"）首都圣多美不过七八公里。 这个位于非洲西部几内亚湾、距离非洲大陆约200公里的岛国，全国约24万人口，用电主要来自2座热电 站和2座水电站，常年电力缺口近40%。 中国和非洲学员参加中非应对气候变化暨"非洲光带"高级别研讨班。生态环境部对外合作与交流中心提供 2023年9月，中国在首届非洲气候峰会上宣布启动"非洲光带"项目，计划通过光伏技术援助和清洁能源 基础设施建设，帮助非洲解决近5万户家庭的用电问题。2025年6月，圣普接收中国援助的3100套户用太 海岸村村民桑迪斯期待购买电冰箱储存渔获。记者邹松摄 海岸村村民屋顶装上了太阳能板。记者邹松摄 阳能光伏发电系统。里瓦尔多家是该项目最早的受益家庭之一。 椰林深 ...

Core Points - The "African Light Belt" project, initiated by China, aims to address electricity shortages in Africa by providing solar photovoltaic technology and clean energy infrastructure, targeting nearly 50,000 households [11][15] - The project has already installed solar power systems for over 200 families in São Tomé and Príncipe, with plans to cover 924 households across 37 communities by May 2025 [13][17] - The initiative is part of China's broader cooperation with African nations to combat climate change and promote sustainable development [16][17] Group 1: Project Overview - The "African Light Belt" project was announced at the first African Climate Summit in September 2023, focusing on solar energy assistance [11] - São Tomé and Príncipe, with a population of approximately 240,000, has faced a consistent electricity shortfall of nearly 40% due to reliance on thermal and hydroelectric power [11][15] - The project provides off-grid solar systems to remote areas, significantly improving the quality of life for residents who previously lacked electricity [12][13] Group 2: Community Impact - Villagers in Colonia have expressed joy and relief as solar panels have enabled them to use appliances like refrigerators and televisions, enhancing their daily lives [10][13] - The project has facilitated better communication and connectivity for residents, allowing them to charge devices and stay in touch with family members [14][15] - Local engineers have received training from Chinese technicians, ensuring the sustainability and maintenance of the solar systems [16][17] Group 3: Economic and Developmental Aspects - The project aligns with São Tomé and Príncipe's goal of achieving a 50% renewable energy share by 2030, addressing the country's energy structure dominated by fossil fuels [15][17] - The initiative not only focuses on household electricity but also aims to support agricultural productivity and enhance income for off-grid populations [16] - The project is seen as a model for South-South cooperation, showcasing the potential for collaborative efforts in renewable energy development [17]

"灯泡亮起来那一刻，在场的人都鼓起掌来。"里瓦尔多说。 "孩子们在学校学过太阳能发电原理，但没人真的见过。"他的妻子艾拉说，"如今太阳能发电设备已经 安装在家里，改变了我们的生活!" 里瓦尔多一家住在科洛尼亚村，距离圣多美和普林西比(以下简称"圣普")首都圣多美不过七八公里。这 个位于非洲西部几内亚湾、距离非洲大陆约200公里的岛国，全国约24万人口，用电主要来自2座热电站 和2座水电站，常年电力缺口近40%。 圣普基础设施部工程师迪奥多特·利马介绍，一套300瓦户用光伏系统，在多数日照条件下每天可稳定提 供接近1千瓦时电，既能支持手机等通信设备充电，也能保障风扇、收音机、电视等电器用电。 采访中，一阵欢快的非洲鼓乐声传来。循声而去，村民圣地亚戈正跟着音乐节奏跳舞，身旁的音箱连接 着太阳能供电系统。"听着音乐干活才过瘾!"这位小伙子说完，拿起爬树脚扣，伴着鼓点三两下爬上棕 榈树，刀刃划过树干，饱满的棕榈果簌簌落下，"现在我们晚上也能干活、跳舞，日子热闹多了!" "非洲光带"项目启动至今，已为圣普200多户家庭安装太阳能光伏发电系统。预计到今年5月，该项目将 覆盖圣普37个社区的924户人家。"这个项目解决了固 ...