The China Electric Power Construction Enterprise Association released the Q1 2026 China Clean Energy Construction Prosperity Index (CEPI) and the China Power Construction Development Index (PCDI). The CEPI for the quarter stood at 106.77, marking a year-on-year decrease of 6.66 points and a sequential decline of 1.47 points, yet it remains within a relatively prosperous range. As of March 2026, the nation's total installed power generation capacity reached 39.65 billion kilowatts, a 15.5% increase year-on-year. Clean energy installed capacity accounted for over 60% of this total, at 24.11 billion kilowatts. In Q1 2026, newly added power generation capacity nationwide was 83.82 million kilowatts, down 2.22% year-on-year and 53.29% sequentially. The decline in the year-on-year growth rate of newly added clean energy capacity contributed to the continued decrease in the CEPI. By the end of March 2026, the scale of clean energy projects under construction reached 809.52 million kilowatts, up 4.99% year-on-year. Investment completed in clean energy during Q1 amounted to 134.3 billion yuan, a 29.38% year-on-year increase. Clean energy power generation in Q1 totaled 788.6 billion kilowatt-hours, rising 7% year-on-year and accounting for approximately 33.16% of the nation's total power generation, equivalent to reducing carbon dioxide emissions by 649 million tonnes. By energy source, newly added hydropower capacity in Q1 was 1.42 million kilowatts, down 33.33% year-on-year; completed hydropower investment was 19.3 billion yuan, up 33.10% year-on-year; and hydropower generation reached 242.5 billion kilowatt-hours, an 8.60% year-on-year increase. Newly added wind power capacity was 15.77 million kilowatts, up 7.87% year-on-year; completed wind power investment was 43.6 billion yuan, surging 72.33% year-on-year; and wind power generation was 285.7 billion kilowatt-hours, a 1.13% year-on-year increase. Newly added solar power capacity was 41.39 million kilowatts, down 30.68% year-on-year. Completed solar power investment was 29.5 billion yuan, down 18.96% year-on-year. Solar power generation reached 147.5 billion kilowatt-hours, rising 29.61% year-on-year. In Q1 2026, power generation from clean energy sources, represented by hydropower, wind power, and solar power, all achieved year-on-year growth, indicating significant progress in China's green energy transition with a continuously improving structure. According to the CEPI warning trend chart, the warning index showed an upward trend in Q1 but remained within the green light zone. The PCDI for Q1 2026 was 86.83, up 0.2 points year-on-year but down 6.46 points sequentially. The sequential decline in PCDI was influenced by sequential decreases in its three sub-indices: green development, industrial scale, and economic benefits. The macroeconomic impact sub-index stood at 92.86, up 10.64 points year-on-year and 12.86 points sequentially. Completed investment in power construction in Q1 reached 312.9 billion yuan, a 37.36% year-on-year increase but a 55.03% sequential decrease. According to data from the National Bureau of Statistics, China's Q1 2026 GDP reached 33,419.3 billion yuan, a 5% year-on-year growth. The contribution of power construction investment to macroeconomic growth increased by 10.64 points year-on-year and 12.86 points sequentially. National fixed-asset investment (excluding rural households) in Q1 was 10,270.8 billion yuan. The share of completed power construction investment in national fixed-asset investment (excluding rural households) rose 0.84 percentage points year-on-year but fell 3.07 percentage points sequentially. The green development sub-index was 85.22, down 2.67 points year-on-year and 7.98 points sequentially. Newly added installed capacity from non-fossil energy sources in Q1 was 6,014 kilowatts, down 21.69% year-on-year and 57.67% sequentially, accounting for 71.75% of the nation's newly added power generation capacity. The industrial scale sub-index was 86.59, down 1.24 points year-on-year and 8.91 points sequentially. In Q1, newly started power generation projects reached 45,477 MW, down 46.20% year-on-year; newly added installed capacity decreased 2.22% year-on-year; but completed investment increased 33.06% year-on-year. On the grid side, the scale of newly started projects was 15,879 kilometers, down 15.14% year-on-year, while newly added transmission lines and completed investment increased 21.01% and 43.31% year-on-year, respectively. The economic benefits sub-index was 85.72, up 0.16 points year-on-year but down 7.20 points sequentially. According to the statistical caliber of the China Electric Power Construction Enterprise Association, the power construction industry's operating revenue in Q1 reached 174.478 billion yuan, down 0.69% year-on-year. The total value of newly signed contracts was approximately 329.203 billion yuan, a decrease of 7.30% year-on-year.
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