The start of new nuclear power project construction is coming
June 19, 2014
Source: China Securities Journal Release Date: 2014-06-19 At the sixth meeting of the Central Finance and Economics Leading Group, the highest decision-making level clearly took the promotion of the energy production and consumption revolution as a long-term strategy and emphasized that Under the premise of ensuring standards and ensuring safety, we will press ahead with the construction of new nuclear power projects in the eastern coastal areas. " People in the industry generally believe that compared with the current immature development of new energy sources such as wind power and photovoltaic, the construction of nuclear power and large hydropower projects will play a more prominent role in driving the adjustment of energy structure and the “steady growth” of the entire macro economy. It is foreseeable that nuclear power will enter the stage of accelerated development in the future due to the exceptional favor of policies. The release of new projects has boosted the industry during the "12th Five-Year Plan" period. Up to now, the proportion of domestic clean energy in primary energy consumption has increased only marginally. It is still far from the target of 15% of primary energy consumption in 2015 by renewable energy. Far away, the nuclear power generation, which has been artificially played a central role, has been slow to grow. Data show that China ’s newly-added nuclear power installed capacity was 2.21 million kilowatts in 2013. Although there was no improvement in nuclear power installed capacity in 2012, the cumulative installed distance reached 4,000 during the “12th Five-Year Plan” period. There is still a large gap in the “10,000 GW target”. Today, “accelerating the construction of nuclear power projects in the southeast coast” has become an established policy. Industry experts say that this will play the dual role of “steady growth” in the economy and leveraging the energy production and consumption revolution to promote the improvement of the ecological environment. According to a researcher of China Merchants Securities [-0.49% capital research report], the construction of nuclear power projects will drive an average annual investment of nearly 80-90 billion yuan. With the continuous sound of policy signals, the industry generally believes that the launch of new nuclear power projects will drive the rapid development of the nuclear power industry and become an important pillar of the energy structure. "The goal of installing 58 million kilowatts by 2020 and 30 million kilowatts under construction" is very high. May be surpassed. The equipment manufacturer Gongmu China Merchants Securities predicts that in 2014, 10 nuclear power units will be put into operation and at least 6 will be under construction. This means that compared with the number of new projects in 2013, the market growth rate of the nuclear power industry in 2014 will reach 100% -200%. Commercial projects put into operation will further release the stock market space. According to China Merchants Securities analysis, it is expected that 8 units will enter the state of commercial operation in 2014. According to the installed capacity, the growth rate is close to 50%. According to reports, these units were started in 2008 and 2009, and in 2014 they were put into production. After the completion of the projects under construction in the next two years, the capacity of the existing machine assembly will increase to more than 40 million kilowatts, compared with 16 million kilowatts at the end of 2013, an increase of 150%. Behind a series of considerable industry growth data is that the upstream equipment manufacturers are about to bid farewell to the dilemma in the past two years, and usher in a new industry "spring." The nuclear power industry has entered the fast track of development. The most direct start is the demand for major equipment such as large forgings brought by the construction of new projects. Calculated according to the planned installation target of 58 million kilowatts in 2020. In addition to the projects under construction and already under construction, the total size of the projects to be approved currently totals about 14 million kilowatts. Considering that many projects have completed the main equipment in advance two years in advance Orders. After the restart of nuclear power, new orders for main equipment will mainly come from new orders approved for projects in this year and next two years, and for some orders that have been suspended for the past two years. In addition, the commercial unit of the existing unit will be driven by the potential demand space of the consumables and spare parts market. China Merchants Securities Researcher believes that the rapid expansion of the nuclear power market in the future will first benefit those companies that have a significant effect on the overall performance of the nuclear power business, such as Jiangsu Shentong, Nanfeng, Jiuli Special Materials, and China Nuclear Technology. Technology companies with technology reserves in equipment and other fields are also expected to benefit quickly.