The evening of March 4, the development of photovoltaic power plants, one of the leading Aerospace Electrical announcement, intends to increase its two power plant projects 272 million yuan. It has been nearly a year ago, aerospace electronics 10th bulletin announced the investment and capital increase photovoltaic power plant projects, involving a total amount of more than 2 billion yuan. Aerospace Electrical series move also allowed the development scale photovoltaic power plant in the country ranking from sixth place in 2012 rose to second place.
Solarbuzz market research firm recently released research report shows that the PV power plant project in 2013 the top ten domestic photovoltaic power plant EPC hands of developers have occupied 45% of the total market share. TBEA, China Electric Power Construction, Libya science and technology with strong financial strength, in the development of photovoltaic power plants intense competition in the outstanding military exploits.
Despite a hot market, but market analysts cautioned that in the next generation of photovoltaic industry, especially the use of part of the terminal is not sufficiently clear in the background, after a number of power projects up and running performance still restrict direct impact on power plant operators' return on investment. For developers, power plant, power plant after the completion of the disk can be found willing to take operators, cash return on investment is not easy.
Enhance market concentration
Solarbuzz latest research report shows that in 2013, the introduction of subsidies and the industry to pick up under the influence, in 2013 the domestic photovoltaic power plant project EPC contractor competition is fierce. Developers occupy the top three were all A-share listed companies, namely TBEA, aerospace electronics, and China Electric Power Construction. Where the size of the first two power plant construction occupy 15% of the total market share of the top ten developers are covering 45% of market share.
Aerospace Electrical and photovoltaic power plant in 2013 on the development of business frequently force, except for March 4 announcement intended to increase its power plant project located outside Gansu and Ningxia, according to China Securities Journal reporter to rough statistics, in the past year, the company announced an investment of nearly and replenishment Up to a dozen PV power plant project, involving an investment of more than 1 billion yuan of funds. In fact, many A-share companies are concentrated force last year to develop photovoltaic power plants, including the developer Rank "champion" and "second place" TBEA and China Electric Power Construction.
With the "Xinjiang outgoing power" transmission channel and put into operation, the Xinjiang region PV market has been activated, TBEA with local geographical advantages, the development scale power plant from 450 MW in 2012 soared to nearly 10 trillion in 2013 watts, is regarded as the market PV market a "dark horse." With a central enterprises with strong financial strength, China Electric Power Construction Loaning approach often taken full contract projects, making the share of the company's rapid expansion.
In addition, some from the component manufacturer's transition to power plant developers last year to develop power plants have also overweight. Among them, Li Technology established in 2012 by virtue of the rapid development of photovoltaic power plants and successful sales business model, the performance of the first to become one of the few PV companies losses. Hareon 2013 also issued several power plant investment announcement, the new development of 300 MW of total power plant last year, while in the hands of the reserve capacity of up to 1639 MW power plant.
China Renewable Energy Society, an expert told reporters that before last August, due to PV benchmark price is not clear, large-scale power plant project developers generally in a wait state, the local government has made preliminary "the path of" the projects have slowed develop rhythm. But in August last year after the NDRC announced new tariff subsidy standards, enthusiastic developers are activated again, the competition is heating up state power plant development.
Distributed Power Station Development warming
From now, power plant developers to expand the fight to compete mainly concentrated in the western region battleground, particularly favorable resource conditions, Gansu, Ningxia, and network with relative ease provinces. Eastern resource conditions but less suitable for the construction of small distributed photovoltaic power plants is slowly expanding market space a lot. According to statistics released by the relevant ministries, 2013 annual domestic new PV installed capacity of more than 8000 MW, of which more than 6000 MW of large-scale power plants, distributed PV installed capacity is about 2,000 MW.
The experts have said that despite the highly distributed photovoltaic pushing policy, but there are still some technical obstacles are not entirely clear policy, which also makes its development progress is not satisfactory. But with the large-scale ground station in western resource development and exhausted, the eastern part of the distributed PV market will be Forced to speed. "On one hand, there is no strong financial strength as backing small and medium developers will have to withdraw from the western market, fought in the east; on the other hand, with the continuous improvement of policy measures, the eastern part of the construction of distributed PV market will grow faster."
From the current pattern of PV market, as well as the latest policy formulation side, the view of the experts is being verified. National Energy Board recently announced new construction scale photovoltaic year 2014, the annual installed capacity of 14,000 megawatts of new targets, scale distributed power plants accounted for 8000 MW.
In fact, some of the domestic photovoltaic companies have started to exit from the western region, eastern quietly layout, many of them listed companies figure competition focused on the main front of Jiangsu and Zhejiang. Among them, the last movement was undoubtedly the largest PV inverter power leading the sun. Late last year the company announced that it will develop a total size of up to 300 megawatts of Jiangsu and Anhui provinces distributed power projects. Market is expected after the project is completed and put into operation about 26 billion in revenue contribution for the company. According to estimates 10% of the net profit margin is expected to contribute 260 million yuan net profit.
In addition, Icahn Technology, also in Zhejiang Wolong Electric and other small scale chopper, developed dozens of MW-scale distributed power projects. Principal easy part of the traditional power equipment manufacturers have borne fruit in the field of distributed photovoltaic devices. 2012 Easy special distributed generation product sales increased 381%; the first half of 2013, the company distributed generation equipment sales in 2012 accounted for 89% of total sales.
Power plant "assignment difficult" worries fade
Research institutions Solarzoom statistics show that in August last year, the country has to disclose the intention to reach, contract and construction of PV projects under development to reach 130,000 megawatts, compared to developed countries, the new installed capacity of 35,000 MW by 2015. "Ten five "target exceeded more than three times, most of them large ground-power projects. This means that the coming period, the state of the PV power plant development, intense competition will continue to maintain a high temperature.
However, under the boom has started bubbling undercurrent surging.
It is understood that many companies are keen that the driving force behind the development of power plants, "more than 10% internal rate of return," the temptation of power plant development in general is considered to be the most profitable part of the photovoltaic industry. However, an important prerequisite to achieve this rate of return, the developer is frequently pre-underwritten billions of dollars to build power plants in the year to successfully achieve the best sale. If you can not find buyers, developers will have to turn into carriers, pre-cast construction of power stations waste of money payback will be stretched, project development funds face long-term risks.
In fact, the power plant development, "the transfer of difficult" worries are beginning to emerge. The brokerage analyst, told reporters that the recent four-month period, the leading property developers in aerospace electronics packaged transfer of shares listed on the Stock Exchange twice its two photovoltaic power plant project, but at the end of February this year, has yet to find the transferee party. This may be worth the trade alert signal. "Hydropower Development Competition is actually cash flow, companies need to get rid of pre-built projects as soon as possible, in order to ensure that the new projects to get enough pre-underwritten, the buy to sell a long time if there's a fine line when empty, the great test of the developer's financial bearing capacity, "the analyst said.
2013 performance rankings referred shares rose nearly three months
1 TBEA - -16.39%
2 Aerospace Electrical profit 141 million yuan, up surge -10.39%
3 China Electric Power Construction - -17.82%
4. Lee Technology profit 155 million yuan, an increase of 30% -10.41%
5 Hareon 131 million yuan loss, minus 6395% 26.08% year on year