The green power sector has recently experienced a series of positive catalysts. On May 7, the Jilin Provincial Government Information Office held a special press conference focusing on initiating the "16th Five-Year Plan" period to promote Jilin's comprehensive revitalization and high-quality development. During the "16th Five-Year Plan" period, Jilin will advance the leapfrog development of green energy industries such as "green electricity" and "green hydrogen," striving to build a national hub for the green energy industry. Jilin plans to drive industrial development in three key areas: First, vigorously promoting the expansive development of "green electricity" by integrating the construction of "generation-grid-load-storage" systems, expanding diversified application scenarios, and strengthening policy support for direct green power connections, green electricity trading, green certification, and factor guarantees, aiming to add approximately 10 GW of new green power capacity annually. Second, vigorously promoting the advancement of the "green hydrogen+" industry by synergistically developing the entire hydrogen industry chain from production, storage, transportation to utilization, exploring centralized procurement and sales models to reduce hydrogen production and usage costs, deploying solid-state hydrogen refueling stations, and expanding application scenarios such as hydrogen vehicles, peak-shaving power stations, and hydrogen metallurgy, while establishing comprehensive hydrogen application pilot projects. Third, constructing "zero-carbon industrial parks" to high standards, aiming to establish three national-level zero-carbon parks in Songyuan, Liaoyuan, and Siping, along with a number of provincial-level zero-carbon parks including Baicheng.
On May 2, China's first large-scale "computing-power coordination" green power supply project—the 500 MW photovoltaic power station for direct green power supply to the Zhongwei Cloud Base Data Center—officially commenced operations. The DATANG POWER Zhongwei Cloud Base Data Center's green power supply project for 2 GW of new energy, which includes the 500 MW integrated generation-grid-load-storage photovoltaic power station and a 1.5 GW wind farm, represents the country's first computing-power coordinated direct green power supply project. The official operation of the 500 MW PV station signifies that China's "East Data, West Computing" project has achieved a direct connection from desert wind/PV power to digital computing power.
On April 22, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the "Opinions on Conducting Energy Conservation and Carbon Reduction Work at a Higher Level and with Higher Quality." The document emphasizes the need to rationally control the scale and power generation of coal-fired power, vigorously develop non-fossil energy and new energy storage, accelerate the construction of a new power system, scientifically plan pumped hydro storage, innovatively develop sectors like direct green power connections and smart microgrids, promote the consumption of green electricity, and ensure that new clean energy generation gradually meets the incremental electricity demand of the whole society.
At the local level, Jiangxi Province recently issued an implementation plan for the orderly development of direct green power connections. It specifies that the proportion of self-consumed annual new energy electricity generation for a project should be no less than 60% of the total available generation, and no less than 30% of total electricity consumption (increasing to no less than 35% by 2030), while the upper limit for grid-fed electricity should not exceed 20% of the total available generation.
Furthermore, the China Electricity Council recently released its "Analysis and Forecast Report on the National Electricity Supply and Demand Situation for Q1 2026," providing predictions for the full year 2026. It is estimated that total electricity consumption for the year will reach 10.9-11 trillion kWh, representing a year-on-year increase of 5%-6%, with Q2 growth expected around 5%. New infrastructure construction is driving rapid growth in electricity consumption for related industries. The annual peak load for the coordinated grid is projected to be approximately 1.57-1.63 billion kW. The report also anticipates a generally balanced electricity supply and demand situation nationwide in the second quarter.
Kaiyuan Securities pointed out that China is accelerating the construction of a national computing power infrastructure system characterized by "networked scheduling, universal accessibility, and green security." In the future, computing-power coordination is expected to evolve from "power supporting computing" to "computing optimizing power," leading to a deep integration of clean green electricity and computing power networks. Guosheng Securities suggested focusing on targets related to computing-power coordination, noting that this synergy could open up new growth avenues for green power companies, with a positive outlook on high-quality wind and solar assets. China Securities (CSC) indicated that in Q1 2026, national newly installed wind and PV capacity increased by 28.6% and 41.3% year-on-year respectively, while the green power consumption rate rose to 97.2%. Mandatory energy storage allocation ratios and inter-provincial green power trading mechanisms are being accelerated. Against the backdrop of an expedited new power system build-out, the value reassessment of green electricity operating assets is seen as sustainable. Everbright Securities noted that from a policy perspective, the 2026 Government Work Report included computing-power coordination in new infrastructure projects for the first time; the "16th Five-Year Plan" outline explicitly promotes the coordinated layout of green power and computing power; and the Ministry of Industry and Information Technology is conducting policy research and standard formulation for computing-power coordination. As relevant policies are successively introduced and implemented, the computing-power coordination industry is expected to experience accelerated development.
Related concept stocks: DATANG POWER (00991): DATANG POWER announced that for March 2026, the group's consolidated power generation amounted to 2,755.9 GWh, a decrease of 20.87% compared to March 2025. Within this, wind power generation was 2,300.6 GWh, down 26.02% year-on-year, while photovoltaic power generation was 455.3 GWh, up 21.98% year-on-year. As of March 31, 2026, the group's cumulative power generation for 2026 reached 8,854.2 GWh, a decrease of 9.43% compared to the same period in 2025. Cumulative wind power generation was 7,660.5 GWh, down 12.87% year-on-year, while cumulative PV generation was 1,193.7 GWh, up 21.28% year-on-year.
Longyuan Power (00916): On April 29, Longyuan Power disclosed its Q1 2026 results. UBS noted that Longyuan Power's Q1 performance was largely in line with market expectations. Net profit for the quarter fell 14% year-on-year to 1.7 billion yuan, while revenue decreased 4% year-on-year to 7.9 billion yuan, primarily affected by weaker wind power generation. However, solar business revenue grew 27% year-on-year, and operating cash flow increased 5% year-on-year to 2.9 billion yuan, indicating a slight improvement in subsidy collection.
DATANG POWER (00991): Recently, DATANG POWER announced that it, along with Jiangsu Guoxin Group and Ordos New Energy, signed a capital contribution agreement to establish a joint venture company with cash investments for developing the "Inner Mongolia Power to Jiangsu" project. The registered capital of the joint venture is 10 billion yuan. DATANG POWER will contribute 5.1 billion yuan, Jiangsu Guoxin Group will contribute 3.4 billion yuan, and Ordos New Energy will contribute 1.5 billion yuan, representing 51%, 34%, and 15% of the joint venture's registered capital respectively. The announcement stated that planning and constructing large-scale energy supply bases, with a focus on desert, Gobi, and arid regions, is a major initiative to implement national strategic decisions, support China's carbon peaking and carbon neutrality goals, promote the clean and low-carbon transition of energy, and enhance energy security capabilities. Leveraging the new energy and coal resources of the Kubuqi Desert and surrounding areas in Inner Mongolia, alongside Jiangsu Province's economic strength and industrial vitality, the partners' joint investment in the "Inner Mongolia Power to Jiangsu" project can fully utilize Inner Mongolia's role as a key national energy base and support Jiangsu's energy transition and low-carbon development.
GUOFUHEE (02582): The company announced that on May 4, 2026, its indirectly wholly-owned subsidiary, Xinjiang Guofumingzhi Hydrogen Energy Technology Co., Ltd., entered into a sales agreement to supply a complete set of equipment for a 300 MW new energy coupled green power project to an independent third-party client, Jiujiang Power Construction (Shaanxi) Co., Ltd., for a contract value of 150 million yuan.
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