State Grid "12th Five-Year" UHV Investment Planning Released

State Grid Corporation of China announced for the first time on the 12th that by 2015, it will build the UHV power grids of North China, East China and Central China (“Sanhua”), forming a “three vertical and three horizontal and one ring network”.

On the same day, State Grid announced that the 1,000 kV Jindongnan-Nanyang-Jingmen UHV AC pilot demonstration project with the highest operating voltage in the world has passed the national acceptance test, which indicates that the UHV is no longer the “test” and “demonstration” stage. The process of approval and construction of the project is expected to accelerate.

Analysts said that in the next five years, the UHV’s investment amount is expected to reach 270 billion yuan, which is a 13-fold increase over the 20 billion investment during the “Eleventh Five-Year Plan” period. Due to the high threshold of UHV equipment, its investment will benefit Pinggao, XJ Electric and other listed companies.

Announced "three vertical and three horizontal and one ring network"

According to the National Grid, the "12th Five-Year Plan" period is an important stage for the development of China's UHV power grids. On the basis of UHV AC pilot demonstration projects, it is necessary to accelerate the construction of the "Three Chinas" UHV AC synchronous power grid. In 2015, the “Three Chinas” UHV power grid formed a “three vertical and three horizontal and one ring network” and 11 UHV DC transmission projects will be built.

It is reported that in the UHV AC project, the Ximeng, Mengxi, Zhangbei and Northern Shaanxi energy bases transmit power to “Sanhua” through three longitudinal UHV AC channels, and the north coal power and southwest hydropower pass three horizontal UHVs. The exchange channel transmits power to the UHV ring network in North China, Central China, and the Yangtze River Delta. Among them, three vertical positions are: Ximeng-Nanjing, Zhangbei-Nanchang and Shaanbei-Changsha. Three horizontal are: Mengxi - Weifang, Jinzhong - Xuzhou, Ya'an - Weinan 3 horizontal transmission channels. In addition, the Huainan-Nanjing-Taizhou-Suzhou-Shanghai-Zhebei-Wannan-Huainan Yangtze River Delta UHVDC double loop network was also constructed.

In the UHV DC project, during the “Twelfth Five-Year Plan” period, it cooperated with Southwest Hydropower, Northwest China’s coal power generation and wind power base development, and constructed 11 UHV DC transmission projects in Jinping-Jiangsu and completed the Qinghai-Tibet DC interconnection project to meet the needs of Tibet’s power supply. To realize the networking of Tibet Power Grid and the northwestern main network.

The goal of the State Grid is to complete the construction of the “Three China” UHV synchronous power grid by 2020, the Northeast UHV power grid and the Northwest 750 kilovolt power grid as the sending end, linking major coal and electricity bases, major hydropower bases, and large nuclear power bases. Large renewable energy bases, strong grids with coordinated development of all levels of power grids.

UHV will become the focus of investment

State Grid defines its new strategy “Unified and Strong Smart Grid” as follows: The principle of unified planning, unified standards, and unified construction, with UHV power grids as backbone grids, coordinated development of all levels of power grids, informatization, automation, and interaction Characteristics of the national grid.

However, people in the industry pointed out that the national grid smart grid strategy has a strong "UHV" color. China’s “smart grid” construction still benefits traditional power equipment suppliers, especially those that have formed an advantageous competitive position. The benefit and profitability of traditional power equipment suppliers ultimately depends on the industry’s supply structure and the company’s own status. .

Only the Jindongnan-Nanyang-Jingmen UHV AC pilot demonstration project has a static investment of 5.7 billion yuan. Therefore, if the above-mentioned large number of AC-DC lines were completed during the 12th Five-Year Plan period, it would bring a huge amount of investment. The State Grid predicts that by 2020, China's UHV transmission capacity will be close to 300 million kilowatts, of which hydropower is about 78 million kilowatts.

According to sources from the State Grid, more than 100 domestic electric equipment enterprises have participated in the development and supply of UHV equipment. Among them, transformers are independently developed by TBEA, Shenyang Transformer Group and Tianwei Baochang; reactors are manufactured by Xi'an Transformers and Hengyang Transformer Co., Ltd. independently researches and develops circuit breakers by Pinggao Electric, New Northeast Electric, and Xi'an High-voltage Electric Co., Ltd. jointly with foreign companies to develop and share property rights. The protection and control system was developed by NARI, Heiji Group, and Sifang Insurance.

CITIC analyst Liu Lei also believes that during the "12th Five-Year Plan" period, the national grid investment will be tilted toward UHV. It is estimated that the UHV exchange investment will reach 270 billion yuan ("Eleventh Five-Year Plan" is only 20 billion). Therefore, A small number of companies that can participate in the UHV project will have a good view. The biggest beneficiaries here are Pinggao Electric and Xuji Electric, which are in the revenue of the State Grid. Pinggao is the biggest beneficiary of AC lines, and Xu is the biggest beneficiary of DC lines.

Take Pinggao Electric as an example, Liu Lei predicts that the UHV project volume will be launched in the second half of the year. According to the GIS (closed combination of electrical appliances) accounted for 12% of the UHV exchange investment, Pinggao accounted for 40% of the share, and UHV can be expected in the future. Bringing about 2.5 billion yuan orders annually for Ping Gao.

270 billion yuan

CITIC analyst Liu Lei believes that during the "12th Five-Year Plan" period, the national power grid investment will be tilted toward UHV. It is estimated that UHV investment will reach 270 billion yuan ("Eleventh Five-Year Plan" is only 20 billion). Therefore, a small number of The manufacturers participating in the UHV projects will have a good view.