rocketbet168slot| CNNC Tianwan: The total investment for the construction of offshore photovoltaic demonstration project is approximately 9.88 billion yuan
News summary
China Nuclear Tianwan 2-million-kilowatt offshore photovoltaic demonstration project started, with an estimated annual power generation capacity of 22rocketbet168slot.34 billion kilowatt-hours, forming a clean energy base of over 10 million kilowatts with Tianwan Nuclear Power Base. The company plans to achieve self-growth through the REIT platform, and expects to put multiple nuclear power units into production from 2024 to 2027, with promising performance growth.
Newsletter text
[Lianyungang, Jiangsu launches China's largest offshore photovoltaic project]
On May 19, Lianyungang City, Jiangsu Province witnessed the largest scale in my countryrocketbet168slotThe groundbreaking ceremony for the offshore photovoltaic project of China Nuclear Tianwan 2 million-kilowatt tidal flat photovoltaic demonstration project. This landmark project is expected to attract investment of 9.88 billion yuan, of which 200,000 kilowatts/400,000 kilowatt hours of energy storage facilities will be used as supporting construction.
[CNNC Jiangsu New Energy Co., Ltd. owns 90% equity and starts long-term operations]
The project is under the responsibility of CNNC Jiangsu New Energy Co., Ltd., which indirectly controls 90% of the shares of the project company through its holding subsidiary CNNC Huineng Co., Ltd. and its cooperation with Jiangsu Nuclear Power Co., Ltd. The demonstration project is expected to operate for 25 years, and its annual power generation will reach 2.234 billion kilowatt-hours after it is fully put into operation.
[The formation of a clean energy base is expected to improve the energy structure]
After the project is completed, it will form a large-scale clean energy base with a total installed capacity of more than 10 million kilowatts with Jiangsu Tianwan Nuclear Power Base, which will significantly promote the development of clean energy and the optimization of my country's energy structure.
[CNNC Huineng Co., Ltd. promotes the construction of REIT platforms]
CNNC Huineng Co., Ltd. plans to issue consolidated REITs based on 1.1205 million kilowatts of wind power and photovoltaic assets, with an expected issuance scale of no more than 7.5 billion yuan. This move marks the company's ability to achieve self-improvement in the green power field and helps relieve the pressure of capital needs.
[2024 capital expenditure plan to support steady growth of nuclear power and new energy projects]
CNNC released its capital expenditure plan for 2024, totaling 121.553 billion yuan, an increase of 52% from the previous year. The funds will be mainly used for nuclear power, nuclear energy multi-purpose, new energy investment projects and other asset investments, demonstrating the company's confidence in future development.
[Performance growth prospects and investment rating outlook]
The analysis predicts that under the two-wheel drive of nuclear power and new energy, the company will demonstrate stable operability and sustained growth. It is estimated that from 2024 to 2026, the company's net profit attributable to the parent company will reach 11.3 billion yuan, 12.5 billion yuan and 13.7 billion yuan respectively, showing a year-on-year growth trend. The corresponding price-to-earnings ratios are 16 times, 14 times and 13 times respectively, maintaining a "buy" investment rating.
[Risk warnings need attention]
Despite the optimistic outlook, investors still need to pay attention to potential risks such as nuclear safety accidents, the progress of nuclear power units under construction, the development of new energy businesses and weak social electricity demand.