CITIC Construction Investment was pleased to say on the program that green power operating companies, whether pure green power or converting thermal power to green power, are in a stage of rapid growth in installed capacity and steady rise in profits, so this area deserves attention in the future.

The following is the essence of the text: Question: Which green power sector has more potential, such as photovoltaic or wind power?

Gao Xing: From a growth perspective, wind power and photovoltaics have a lot of room for growth in the future, both on the upstream equipment side and on the downstream operation side.

Wind power and photovoltaics currently account for just over 10% of the total power generation in society, and may reach 60%, 70% or higher in the future.

Only by replacing thermal power with wind power and photovoltaic power can the final dual carbon be achieved.

In the past, the development of domestic centralized photovoltaic power stations was suppressed in the past two years due to limited silicon material links and relatively high module prices. However, once the upstream production capacity is released and the price of photovoltaic modules falls, photovoltaic operating companies will be able to invest in a lot of affordable photovoltaics.

Power stations are coming out, so this is an issue that everyone in the new energy industry chain is very concerned about in the fourth quarter of this year or the first quarter of next year.

Question: Is there much room for growth in new energy sources represented by photovoltaics in the future?

Which segments are you optimistic about?

Gao Xing: Wind power and photovoltaics have been very strong investment opportunities in the past two years, but in the past, everyone focused more on upstream equipment or photovoltaic silicon wafer components, including chemical films.

Green power operating companies covered by the operation side, whether pure green power or thermal power converted to green power, are in a stage of rapid growth in installed capacity and steady rise in profits, so this area deserves further attention in the future.

Question: What is the current subsidy policy for green electricity?

And what policy signals do investors need to pay attention to?

Gao Xing: First of all, many renewable energy subsidies are in arrears, so many power company operators have a lot of accounts receivable.

There are currently two solutions to subsidies. The first is through central financial support.

Regarding the second point, we have also observed a signal. The State Grid and China Southern Power Grid have established subsidy service companies, so they may later use some financial planning methods to discount the surplus of future subsidies to the present. This may be

In a few years, I may still have a subsidy gap of 70 to 80 billion per year, which may be solved through such a method.

So on the whole, the cash flow of our existing subsidized new energy projects will definitely be better improved.

At present, green electricity trading is mainly aimed at affordable projects. The national policy is to hope that green electricity will be traded through marketization. On the one hand, I sell commodities such as electricity. At the same time, I also give it green and clean attributes through policies. Through the green and clean attributes, we can

Get an extra premium.

Therefore, the latter part depends on the advancement of relevant policies. As this kind of dual energy consumption control continues to advance, the reasonable premium of green electricity will become higher and higher, and the overall green electricity transaction volume will also have an obvious increase.

improve.

Green electricity is definitely a very important development direction in the future.