--- title: "CITIC Securities: The wind power industry welcomes a high prosperity β + structural α super MEGA opportunity" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/279509573.md" description: "CITIC Securities released a research report stating that with the conclusion of the Two Sessions, the \"green fuel\" and \"electricity computing synergy\" mentioned in the government work report will drive the high prosperity of the wind power industry. It is expected that by 2030, the demand for wind turbines will reach 465GW, and it is recommended to invest in wind power companies with green fuel production capacity. As the core source of green fuel, the valuation of wind power will increase from 20 times PE to 30-35 times, with leading companies reaching 40 times PE. The industry's prosperity will continue to rise due to valuation increases, profit improvements, and high growth demand" datetime: "2026-03-18T00:48:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279509573.md) - [en](https://longbridge.com/en/news/279509573.md) - [zh-HK](https://longbridge.com/zh-HK/news/279509573.md) --- > 支持的语言: [English](https://longbridge.com/en/news/279509573.md) | [繁體中文](https://longbridge.com/zh-HK/news/279509573.md) # CITIC Securities: The wind power industry welcomes a high prosperity β + structural α super MEGA opportunity According to the financial news app Zhitong Finance, CITIC Securities has released a research report stating that the recent Two Sessions have concluded, and "green fuels" and "computing power and electricity synergy" have been included in the government work report, corresponding to China's energy independence strategy and AI competition strategy, respectively. Driven by the dual rigid high-growth demand for green fuel preparation and green electricity supply for data centers, it is expected that by 2030, these two demands will drive nearly 465GW of wind turbine demand, propelling the wind power sector into a super prosperous state. It is recommended to focus on wind power companies with green fuel production capacity, as well as wind turbine manufacturers with capabilities for overseas expansion in Europe. According to calculations, wind power, as the core green electricity source for green fuels, accounts for more than 53% of the cost structure. Wind power companies transitioning to green fuel operators possess significant upstream cost advantages, while aligning with the national energy security strategy, leading to an expected upward adjustment in the reasonable PE central. It is anticipated that valuations will rise from the traditional 20 times PE of wind power equipment manufacturing to over 30-35 times for core operational entities of national energy security. Leading enterprises can achieve higher valuation premiums of up to 40 times PE. The valuation central of turbine companies and the profit central will both rise, and the green energy strategy combined with the computing power and electricity synergy strategy will jointly generate high-margin, high-certainty downstream demand, ushering in a super MEGA opportunity for the wind power industry characterized by high prosperity β + structural α. Under the triple catalysts of industry valuation increase, profit level enhancement, and high growth in downstream demand, the sector's prosperity continues to rise. ## The main viewpoints of CITIC Securities are as follows: **The positioning of green fuels is crucial for national energy security and promotes crude oil substitution.** According to the National Energy Administration, by 2025, China's industrial crude oil production from large-scale enterprises will only reach 216 million tons, while total crude oil imports will amount to 578 million tons, with apparent crude oil consumption at 791 million tons, leading to a high dependence on foreign crude oil at 72.7%, an increase of 0.7 percentage points year-on-year, intensifying the pressure for energy independence. With the outbreak of geopolitical conflicts in Iran, the urgency of the energy independence strategy has increased. According to statistics from the Orange Research Institute, by the end of 2025, the total planned production capacity of domestic green methanol (including signed contracts) will reach 64.86 million tons, and the total planned capacity of SAF (sustainable aviation fuel) will be nearly 8 million tons. If the above planned capacities are fully realized, it could achieve a functional substitution of 53.34 million tons of crude oil, accounting for 9.2% of the crude oil import volume in 2025, essentially covering the phased target of 10% crude oil substitution. The realization of production capacity and performance release in the short term of 2-3 years has strong certainty. According to calculations from the Orange Research Institute, achieving functional substitution for all imported oil would require nearly 2000GW to 2700GW of new energy installed capacity. The 10% crude oil substitution demand will generate nearly 250GW of wind power installation demand. **Computing power and electricity synergy continues to catalyze green electricity demand for data centers.** Qin Haiyan, Secretary-General of the Wind Energy Professional Committee of the China Renewable Energy Society (CWEA), pointed out that the deep integration of computing power and green electricity has become an industry trend, and the electricity demand for data centers will continue to grow rapidly. By 2025, the scale of data center racks in China will exceed 9 million, and it is expected to surpass 33 million by 2030; in the next five years, the annual electricity consumption of new data centers will exceed 380 billion kilowatt-hours, corresponding to a need for 175GW of wind power installation. As the preparation for the national data group approaches, it is anticipated that the actual energy consumption of data centers in China by 2030 will exceed the previous expectation of 400 billion kilowatt-hours (corresponding to a load of 46GW), with actual electricity load expected to reach 60-65GW The corresponding demand for wind power support is close to 190GW. **The demand for electricity collaboration in Europe is accelerating, and the UK has canceled tariffs on the wind power supply chain, benefiting Chinese wind power companies.** The UK government announced that starting from April 1, 2026, it will officially cancel 33 import tariffs on wind power components, with tariffs on wind turbine blades reduced from 6% to 0, and tariffs on cables reduced from 2% to 0. This move aims to release approximately £22 billion in investments and accelerate the deployment of offshore wind power installations, reflecting the strong local electricity demand and the significant gap in the domestic wind power supply chain, while also opening up an important incremental market for the Chinese wind power industry. According to the European Data Centre Association (EUDCA), the electricity consumption of data centers in Europe is expected to reach around 38GW by 2030, and further increase to 40GW by 2031, corresponding to an additional wind power demand of nearly 85GW. If Chinese companies can capture a 30% market share, the incremental demand brought by the electricity collaboration in Europe alone could contribute approximately 25GW of high-margin offshore wind power orders to domestic companies by around 2030. **Wind power is a flexible and revenue-determined link under the scenario of green fuel + electricity collaboration.** Electrolyzers in green fuel hydrogen production and data centers have extremely high requirements for power supply reliability, with stability needing to reach 99.99%. Currently, the mainstream green electricity supply solutions in China and Europe use an over-allocation of wind power + energy storage model to achieve stable power supply, with a 1GW load corresponding to a 3GW wind power demand. In terms of economic comparison, the annual utilization hours of wind power can reach 2,200 hours, while the load-to-storage ratio for wind-storage routes is only 1:0.3~0.5, whereas the load-to-storage ratio for solar-storage routes can be as high as 1:1~2, showing a significant difference in capital expenditure for the energy storage segment. It is estimated that the cost of wind-storage electricity is lower than that of solar-storage by 0.03~0.05 yuan, with a cost advantage of 5%~15%. Relying on significant economic advantages, wind power has become the mainstream choice for green fuel projects and green electricity supply for data centers. Driven by both green fuel and electricity collaboration in China and Europe, it is expected that nearly 465GW of new wind turbine demand will be generated by 2030. **Risk factors:** The advancement of China's energy independence strategy is not as expected; China's AI competition investment is not as expected; the opening of the European wind power market is not as expected ### 相关股票 - [CHINA LONGYUAN (001289.CN)](https://longbridge.com/zh-CN/quote/001289.CN.md) - [CECWPC (601016.CN)](https://longbridge.com/zh-CN/quote/601016.CN.md) - [MYSE (601615.CN)](https://longbridge.com/zh-CN/quote/601615.CN.md) - [GOLDWIND (02208.HK)](https://longbridge.com/zh-CN/quote/02208.HK.md) - [Goldwind (002202.CN)](https://longbridge.com/zh-CN/quote/002202.CN.md) - [Sany Renewable Energy (688349.CN)](https://longbridge.com/zh-CN/quote/688349.CN.md) - [E Fund CSI Green Power ETF (562960.CN)](https://longbridge.com/zh-CN/quote/562960.CN.md) - [GF CSI All Share Power Public Service ETF (159611.CN)](https://longbridge.com/zh-CN/quote/159611.CN.md) - [Penghua SSE STAR New Energy ETF (588830.CN)](https://longbridge.com/zh-CN/quote/588830.CN.md) - [Windey (300772.CN)](https://longbridge.com/zh-CN/quote/300772.CN.md) - [Bosera CSI All Share Electric Utilities ETF (561700.CN)](https://longbridge.com/zh-CN/quote/561700.CN.md) - [SEWPG (688660.CN)](https://longbridge.com/zh-CN/quote/688660.CN.md) - [ChinaAMC Green Electricity ETF (562550.CN)](https://longbridge.com/zh-CN/quote/562550.CN.md) ## 相关资讯与研究 - [China Longyuan Power's Profit, Revenue Decline in 2025](https://longbridge.com/zh-CN/news/281300557.md) - [China Longyuan Power Group Corporation Limited Reports Consolidated Power Generation Results for the Month of February 2026](https://longbridge.com/zh-CN/news/278114942.md) - [Ming Yang Smart Energy Says No Official Word From UK Over GBP1.5 Billion Wind Project Amid Media Reports of Rejection](https://longbridge.com/zh-CN/news/280771555.md) - [Triumph New Energy Sets Board Meeting to Review First-Quarter 2026 Results](https://longbridge.com/zh-CN/news/281406836.md) - [Inox Clean Energy acquires Vibrant Energy at ₹5000 cr enterprise value](https://longbridge.com/zh-CN/news/281365648.md)