Against the background of steady growth, the field of new infrastructure investment has become the focus of the market. UHV power grid refers to 1000 kV AC and ±800 kV DC transmission network. First, the UHV power grid can meet the requirements of large-scale, long-distance, and high-efficiency power transmission. Secondly, the use of UHV power transmission can promote the intensive development and efficient utilization of clean energy. Finally, the use of strong AC and direct UHV AC-DC hybrid grid transmission can greatly reduce the problems of insufficient power flow transfer capacity and weak reactive power and voltage support of the 500-kilowatt grid in the event of a DC system failure, and reduce the risk of large-scale power outages in the grid. The first-level power grid will gradually create conditions for layered and partitioned operation, solve problems that limit the development of the power grid such as short-circuit current exceeding the limit, and improve the flexibility and reliability of power grid operation.

2023 UHV project construction planning and investment strategy survey

In recent years, UHV has always been the focus of major construction projects in China's power grid. In 2021, the 14th Five-Year Plan and the 2035 long-term goal outline clearly proposed to build a batch of multi-energy complementary clean energy bases and improve the utilization rate of UHV transmission channels, etc. A number of transmission channels completed and put into operation during the 14th Five-Year Plan.

According to the data of the State Grid, during the 14th Five-Year Plan period, the State Grid planned to construct 24 UHV projects and 14 straight lines, involving more than 30,000 kilometers of lines, with a transformation capacity of 340 million kVA and a total investment of 380 billion yuan. In addition, during the 14th Five-Year Plan period, China Southern Power Grid will plan to invest about 670 billion yuan in power grid construction. Among them, China Southern Power Grid will list the construction of distribution network as the focus of the 14th Five-Year Plan, and the planned investment will reach 320 billion yuan, accounting for nearly the total investment. half of.

The continuous and rapid growth of social electricity consumption in the whole country has effectively driven the market demand of the power equipment industry and the continuous improvement of the national power engineering investment and construction scale.

In recent years, with the continuous increase of electricity consumption in China as a whole, the electricity load in various regions has continued to increase, and the scale of investment in power engineering construction across the country has continued to increase. According to the statistics of the National Energy Administration, the scale of investment in China's electric power projects has increased from 739.3 billion yuan in 2011 to 1,048.1 billion yuan in 2021, with an average annual compound growth rate of 3.55%. The continuous increase in the investment and construction scale of national electric power projects has promoted the vigorous development of the new high-efficiency and energy-saving power transmission and distribution equipment market represented by energy-saving power transformers.

Development trend of power transmission and distribution and control equipment manufacturing industry

Under the background of advanced manufacturing + industrial Internet, the industry is closely integrated with the Internet, the degree of informatization of the whole industry is generally improved, product information can be traced, and the monitoring, protection, The control, measurement and management work are organically integrated to carry out long-distance data transmission and monitoring, improve the automation of equipment, and facilitate the operation and maintenance of equipment. Through the cooperation and cooperation between humans, automation equipment and industrial robots, manufacturing informatization and automation are realized, making the design, production, management and service of the manufacturing industry more and more intelligent, and with the advent of the 5G era, China's power transmission and distribution and Control equipment will gradually form a smart grid operation control and interactive service system.

With the acceleration of China's urbanization process, the capacity of the power grid per unit area continues to increase. Miniaturized power transmission and distribution and control equipment are favored by users due to their advantages in saving space, saving energy and materials, and improving the urban environment. With the use of composite insulation technology, APG automatic pressure gel technology, gas insulation technology and miniaturized vacuum interrupter, the size and weight of power distribution equipment have been greatly reduced compared with before. While the volume of power distribution and control equipment is continuously reduced, more electrical components and devices are added, and further improvement is made on the basis of ensuring the functions of the original products, so that a single product has more functions, which has become the development goal of the industry and trends.

The new power system needs to solve the problem of strong uncertainty (ie, randomness and volatility) and vulnerability of the system under the high proportion of new energy access, and give full play to the ability of large-scale resource allocation of the power grid. The future power grid will present a form of long-distance AC and DC power transmission, interconnection of regional power grids, and interaction between main grid and micro grid.

UHV AC/DC long-distance power transmission has become an important means of clean energy allocation. The distributed power supply is connected in layers according to the voltage level to realize local consumption and balance. Energy storage and demand-side response are developing rapidly. It is estimated that the scale of demand response will reach about 360 million kilowatts in 2060, and the installed capacity of energy storage will reach about 420 million kilowatts. Both will become important flexible resources for the future power system to ensure the consumption of new energy and safe and stable operation of the system.

According to the "2023-2028 China UHV Industry Market Survey Analysis and Development Prospect Forecast Research Report" by the China Research Institute Puhua Research Institute, it shows that in order to cope with global climate change, improve energy utilization efficiency, and coordinate domestic economic and social development and ecological environment protection, China The government has put forward the development goals of carbon neutrality and carbon peaking, and has successively introduced supporting industrial policies to effectively promote the sustainable and healthy development of the high-efficiency and energy-saving power equipment industry while accelerating the improvement of China's power equipment energy efficiency standards.

After experiencing a slowdown in 2022, UHV construction is expected to usher in a full-year acceleration in 2023. From the perspective of the demand side, the construction of large domestic wind and solar bases continues to advance, and the subsequent addition of large complex bases will further test the matching of power grid transmission channels on the basis of local consumption + cross-regional delivery. From the perspective of the supply side, multiple line projects have been included in the key promotion list. The current round of UHV construction in 2023-2024 is expected to usher in the first phase of intensive approval and bidding period. In 2024, it is expected to release UHV investment of about 150-160 billion yuan.

In China, UHV power grid refers to 1000 kV AC and ±800 kV DC transmission network. First, the UHV power grid can meet the requirements of large-scale, long-distance, and high-efficiency power transmission. Secondly, the use of UHV power transmission can promote the intensive development and efficient utilization of clean energy. Finally, the use of strong AC and direct UHV AC-DC hybrid grid transmission can greatly reduce the problems of insufficient power flow transfer capacity and weak reactive power and voltage support of the 500-kilowatt grid in the event of a DC system failure, and reduce the risk of large-scale power outages in the grid. The first-level power grid will gradually create conditions for layered and partitioned operation, solve problems that limit the development of the power grid such as short-circuit current exceeding the limit, and improve the flexibility and reliability of power grid operation.

In recent years, UHV has always been the focus of major construction projects in China's power grid. In 2021, the 14th Five-Year Plan and the 2035 long-term goal outline clearly proposed to build a batch of multi-energy complementary clean energy bases and improve the utilization rate of UHV transmission channels, etc. A number of transmission channels completed and put into operation during the 14th Five-Year Plan.

According to the data of the State Grid, during the 14th Five-Year Plan period, the State Grid planned to construct 24 UHV projects and 14 straight lines, involving more than 30,000 kilometers of lines, with a transformation capacity of 340 million kVA and a total investment of 380 billion yuan. In addition, during the 14th Five-Year Plan period, China Southern Power Grid will plan to invest about 670 billion yuan in power grid construction. Among them, China Southern Power Grid will list the construction of distribution network as the focus of the 14th Five-Year Plan, and the planned investment will reach 320 billion yuan, accounting for nearly the total investment. half of.

In January 2023, Xin Baoan, chairman of State Grid, said in an interview that investment in the economy and society should be brought into play, and the investment in power grids in 2023 will exceed 520 billion yuan. At the same time, Zhang Wenfeng, deputy general manager of China Southern Power Grid, said at the Guangdong Provincial High-Quality Development Conference that in 2023, the total investment of China Southern Power Grid Corporation in Guangdong projects will exceed 260 billion yuan, and the planned investment within the year will be about 80 billion yuan, including ensuring grid security, 66 billion yuan will be invested in power grids such as power supply and power supply quality improvement, 6 billion yuan will be invested in energy storage power stations, and 8 billion yuan will be invested in new energy storage, new energy, and charging facilities. Keywords: infrastructure, infrastructure construction, domestic engineering news, planning investment

Considering that the current power grid is facing certain pressures in terms of power supply guarantee and new energy large bases for delivery and consumption, and at the same time stabilizing the economy has become the top priority of development, the power grid has counter-cyclical attributes and is expected to make further efforts, and the investment amount is still likely to increase. Specifically, power grid investment mainly revolves around the three main lines of UHV, main network upgrade and user side. In terms of UHV, CICC believes that UHV is an important part of the new energy supply and consumption system. With the continuous advancement of large base projects, the progress of UHV projects is expected to further accelerate. It is expected that 2023-2024 is expected to usher in a new round of approval peaks for UHV DC, of which 4 direct currents and 3 AC are expected to be approved in 23 years, and the investment in UHV is expected to reach more than 80 billion yuan. Editor/Xu Shengpeng