The central government directly supplemented the 4.75 billion 200 counties of green energy demonstration to “accelerate†the enthusiasm of new energy sources of biomass energy. “The scenery is infiniteâ€, but the biomass energy is hot to cold. To the surprise of the market, the "Twelfth Five-Year Plan" gave a surprising increase. What is driving this acceleration?
As the National Energy Administration's push for projects within five years, the billions of financial funds in the demonstration counties of green energy may be used to generate leverage. Perhaps the decision-making department wants to reverse the image of “manufacturing†under the feast of wind power and photovoltaics, and really start the use of green energy. Biomass energy is just for heavy use and light equipment manufacturing.
However, when investment promotion has become the inertia of local governments in recognizing political achievements, whether the heavy-consumption consumption of biomass can escape from the fate of the 11th Five-Year Plan is still to be solved.
Various signs indicate that the development of the national "12th Five-Year Plan" biomass energy will enter the acceleration phase.
On July 9th, at the first meeting of rural energy work in nearly 30 years, Liu Tienan, director of the National Energy Administration, announced the development goals of the “12th Five-Year Plan†for biomass energy: By 2015, biomass power generation capacity will reach 13 million kilowatts, and centralized supply of gas It has reached 3 million households, annual utilization of shaped fuel reached 20 million tons, annual utilization of bio-fuel ethanol reached 3 million tons, and annual utilization of biodiesel reached 1.5 million tons.
“An important impetus for achieving these development targets is the 200 green energy demonstration counties that the country will build during the 12th Five-Year Plan period.†Qin Shiping, a researcher at the Research Institute for Renewable Energy at the Energy Research Institute of the National Development and Reform Commission, told this reporter that at present, The state has announced the list of the first batch of 108 green energy demonstration counties.
According to Qin Shiping, according to the state's subsidy scope for green energy demonstration counties, the central government will have a subsidy of 4.75 billion yuan for the development of biomass energy. "In addition to supporting local governments, it will greatly stimulate the development of biomass energy."
The “Eleventh Five-Year†Biomass Energy Index is not completed. The reporter learned that among various renewable energy sources, the development of biomass energy is not satisfactory. It is the only new energy industry that has not achieved planning as scheduled during the “11th Five-Year Plan†period.
According to the Medium and Long-Term Development Plan for Renewable Energy and the 11th Five-Year Plan for Renewable Energy Development, the national development target for biomass energy during the “Eleventh Five-Year Plan†is that, in 2010, the total installed capacity of biomass power generation It reached 5.5 million kilowatts, the annual utilization of biogas reached 19 billion cubic meters, the annual biomass utilization of solid fuels reached 1 million tons, the annual non-grain fuel ethanol utilization increased by 2 million tons, and the annual biodiesel utilization reached 200,000 tons. .
The reporter found that, as of the end of 2010, biomass power generation installed capacity was about 5.5 million kilowatts, annual utilization of biogas was about 13 billion cubic meters, annual utilization of biomass solid formed fuel was about 500,000 tons, and annual production of non-grain raw material fuel ethanol For 200,000 tons, the annual output of biodiesel is about 500,000 tons.
Compared with the double development of wind energy and solar energy, the above five development goals of biomass energy have only achieved two results. Among them, only about 2/3 of the biogas utilization was completed, only 1/2 of biomass solid fuel was completed, and non-food fuel ethanol only completed about 10% of the target.
In this regard, Yuan Zhenhong, secretary general of the China Biomass Energy Special Committee of the China Renewable Energy Association, publicly stated that biomass energy experienced a process of pre-heat and post-cold during the “Eleventh Five-Year Planâ€. One of the main reasons was the support of the country’s industrial support. The policy did not keep up.
“In the current five-year policy that can be seen, the National Energy Administration will be a big plus for the green energy demonstration counties to be promoted in the future.†Zhuang Huiyong, general manager of the Ministry of Science and Technology of the State Energy Bio Power Group expressed to the reporter. "The green energy demonstration counties have better biomass resources and their industrialization base is better. With the support of the national finance, renewable energy needs to reach a certain percentage."
The so-called green energy demonstration counties are counties (cities) that have been jointly identified by the National Energy Administration, the Ministry of Finance, and the Ministry of Agriculture to develop and utilize green energy as the main means to solve or improve rural life energy use.
“In fact, for rural areas, renewable energy is mainly biomass energy. The green energy demonstration counties that have already been selected are counties with better biomass energy foundations.†Qin Shiping explained to this newspaper.
The model county learned from the Leverage Reporter that in the country’s overall plan for green energy demonstration counties, 50 were built in 2010, 200 in 2015, and 500 in 2020.
As early as the end of last year, the state announced the list of the first batch of green energy demonstration counties, including 108 counties including Beijing Yanqing, Hebei Zhangbei, and Jiangsu Rudong.
On April 27th, the Ministry of Finance, the National Energy Administration, and the three ministries of the Ministry of Agriculture jointly issued the Interim Measures for the Administration of Grants for the Construction of Green Energy Demonstration Counties (hereinafter referred to as the Interim Measures). According to the Interim Measures, the subsidy funds are arranged by the budget, and will be used and managed in accordance with the principles of “government guidance, market operation, county-level overall planning, and performance-based linking.†The central government's subsidy funds for each green energy county are in principle not More than 25 million yuan.
"Although the "Interim Measures" explained the green energy, it mainly refers to renewable energy such as biomass, solar energy, wind energy, geothermal energy, and hydropower. However, from the actual operation, subsidies are mainly directed at biomass energy." Qin Shiping, one of the participants in the Interim Measures, explained.
Qin Shiping analyzed that the highest subsidies for subsidizing the rural energy service system are 5%. The subsidies for the biomass energy industry that can be obtained in each county are up to 23.75 million yuan, according to the target of building 200 green energy demonstration counties in 2015. The subsidies available to the biomass industry are 4.75 billion yuan.
The time for the second batch of pilot applications is to be determined. Meanwhile, Article 10 of the “Provisional Measures†also stipulates the procedures issued by the central government subsidy, that is, for the model counties that meet the supporting conditions and have the ability to meet the prescribed targets, the central government comprehensively considers the annual construction plan, With regard to the scale of investment in the project and the arrangement of the central government budget, the demonstration subsidy funds shall be issued to the provincial finance departments in batches.
Among them, after the implementation of the plan, the fund will be allocated 1/3; after the mid-term evaluation is passed, 1/3 will be allocated; after the implementation plan is completed and the target is approved, the remaining funds will be disbursed.
In addition to the central government subsidies, local governments must also provide certain financial support. The “Provisional Measures†stipulates that local subsidy may adopt financial subsidy, subsidy for awards, and interest subsidy, etc. to support the construction of demonstration projects. The specific subsidy criteria shall be comprehensively considered by the local government in consideration of the construction content, investment scale, and self-raised funds of the enterprise. determine.
“Relevant departments have proposed that the subsidy standard for local financial supporting funds in the central and western regions is not less than 30% of that of the central government. However, this standard is a bit high for many failing county towns, so the “Provisional Measures†does not give A rigid request was made.†An expert who participated in the National Green Energy Model County Management Measures Symposium was introduced to this reporter.
Qin Shiping disclosed to this reporter that there are 84 counties reporting the implementation plan for the green energy demonstration counties, but only 26 have passed the expert review and the rest have been ordered to make changes. The start date of the second batch of green energy demonstration counties will be determined.
Biomass power generation: Xiao He pointed out that the supply of raw materials is the key to short-sighted sharp angle experts, and the short-term difficulty is the scale of hype. The “Twelfth Five-Year Plan for National Strategic Emerging Industries Development†(hereinafter referred to as the “Planningâ€) has entered the consultation stage. . At present, the installed capacity of biomass energy in the industry is relatively certain. Some people think that the low cost of biomass power generation and the high cost of solar power are one of the main reasons for the rapid development of biomass in the next five years. Therefore, biomass power generation is expected to become a major change in the new energy industry.
Affected by this, the recent concept of biomass power generation related stocks are active. Since the beginning of this week, the cumulative gains of biomass energy leaders Katie Power and Shengyun have exceeded 7%. And yesterday, Sheng Yun shares and Fuchun Environmental Protection rose again by more than 4%. In this regard, relevant experts cautiously stated in an interview yesterday that due to the small scale of biomass energy, it is difficult to form scale speculation except Kaidi Power, and related listed companies can pay attention to the biomass industry after forming a clear profit.
Katie Power is the "only" company?
In fact, compared to solar energy and nuclear power, biomass power generation has always received relatively low attention. In the A-share market, the relatively clear biomass power generation companies are only Katie Power. As of press time yesterday, Katie Power's telephone call has been unanswered.
According to statistics, in mid-2010, Kaidi Power invested in seven biomass power generation projects such as the Nanling Kaidi Biomass Power Plant Project. After that, the company has been accelerating the pace of building biomass power plants. In the first quarter of this year, Katie Power already had 23 biomass power plants. The July 29 Kaidi Power Disclosure report showed that the company's biomass power generation revenue reached 122 million yuan, an increase of 289.33%, the main revenue accounted for 8.89%. At the end of 2010, Katie Power's biomass power generation was only 937.692 million yuan, and its main revenue was 2.97%.
"From the report point of view, the company's biomass power generation business continues to rise." Xiangcai Securities electric utilities analyst Zhu Chenghui said in an interview with the Shenzhen People's Daily, "The future of Katie Power in the biomass power generation business should be There will be growth, because currently the income of this company's business only includes 4 power plants, and public information shows that the company has 23 power plants.In this way, future biomass power generation will contribute to the company's performance. ."
Zhu Chenghui told reporters that the current policy for biomass power generation price is 0.75 yuan / degree, and Kaidi Power's gross profit margin of this business is 20%, which means that the company's biomass power generation costs 0.6 yuan / degree. In the total cost of biomass power generation, the cost of fuel accounts for 70%.
In addition, Che-hung, the chief analyst of Tianxiang Investment Power Industry, believes that Kaidi Power's biomass power generation business is developing steadily. It is expected that there will be 11 grid-connected power generation by the end of this year, and the remaining power plants will also be completed in 2012. At the same time, as biomass power generation and biomass fuel are still in the policy guidance support period, it is expected that in the next 3 to 5 years, relevant support policies will be gradually clarified and refined, so Katie Power will enjoy good policy support.
Several companies have successively involved in just looking at the profitability of a biomass power generation at Katie Power. Perhaps it's not bad. So is the situation in the entire biomass power generation industry as well?
Zhu Chenghui said that in fact, for biomass power generation enterprises, there is no higher-end technology among them, so the technical threshold for entry is not high, but the key is that the raw material of straw currently has a situation of uneven supply and demand.
The reporter learned from the interview that due to the policy support of biomass power generation, many companies competed to enter the industry, and in order to save costs, the companies were located in villages with more straw producing areas. In this way, a situation arises in which straws are produced by villages and towns, and the needs of many enterprises. In this way, the middlemen will increase the price of straw and increase the cost of straw acquisition, which will obviously affect the performance of the industry.
It is understood that taking rice husk fuel as an example, the red line for the current profitability of Kaidi Power is 400 yuan/ton, but this red line was touched when it hit the “price war†in 2009; at the time, the rice husk purchase price was once Explored to 380 yuan / ton. With the adoption of ultra-high pressure fluidized bed technology, the red line for profitability of power plants may be raised to 600 yuan/ton, and the profitability of power plants will also rise.
“The acquisition cost of straw has a greater impact on biomass power generation companies. From what we learned about Katie Power’s acquisition of straw, the company’s disclosed information is 240 yuan/ton, but the actual purchase price is higher than this price. This shows that the purchase price of straw has been bullish," said Zhu Chenghui.
It is worth noting that another company listed in Biomass Power Generation, a listed company, has prepared a considerable amount of biomass power generation material when entering the industry. According to the announcement of the company, the company has signed a letter of intent for cooperation in the supply of biomass fuel with 12 forest farms, 5 wood processing plants and some middlemen. The annual supply reaches 510,000 tons, and the continuous and stable supply of fuel has been fully realized. Protection. From this point of view, the supply of biomass fuel has become an important weight for the continued growth of biomass power generation companies.
Shi Zhenlu, a researcher with large scale of small speculation and difficulty in Zhejiang Securities Industry, cautiously stated that as a branch of new energy, biomass energy accounts for a relatively small proportion. Correspondingly, the proportion of business income from biomass energy development in related companies is also small. Among the A shares, listed companies with relatively clear links with biomass energy include Kaidi Power, Shengneng Energy, and COFCO Biochemical. In addition, companies such as combustion control technology have related equipment production. Therefore, the concept of biomass energy itself is suspected of being speculative.
"Overall, the number of biomass energy targets is small, the market size is small, and the concept of subject matter is strong. From a speculative point of view, suitable for hot money speculation, from the perspective of investment, is still far from the point of time." Shi Zhenxi said that in the new Before energy as a whole has no clear profit model and sustainable government subsidies, biomass energy will appear as a phased shock market rather than a trending opportunity.
Huang Tingjun, a research fellow at Ping An Securities, pointed out that in addition to Kaidi Power, biomass energy concept stocks mainly include listed companies for biomass upstream resources (raw materials), listed companies for biomass energy equipment and listed companies for biomass energy operations. Individual stocks mainly include Wanxiang Deonong, Ronghua Industry, COFCO Biochemical, ST Guofa, Beidahuang, ST Ganhua, Huazi Industry, Hainan Coconut Island, Huaguang, Huadian International, and Shanneng Energy. After the profitability of the biomass energy industry is clear, the above companies can focus their attention.
New energy focuses on the four major industries Biomass energy has the unique advantage of low-cost advantages such as biomass energy generation, and will become a major focus of China's new energy industry. The reporter recently learned that the 12th five-year plan for strategic emerging industries has been developed. At the stage of soliciting comments, the introduction was close to the stage. As one of the seven strategic emerging industries, New Energy will focus on the four major industries of nuclear power, wind power, solar energy and biomass energy in future development. Among them, the installed capacity of solar and biomass power generation is basically determined, namely 10 million kilowatts and 13 million kilowatts respectively in the next five years. From a planning point of view, biomass energy has been overshadowed by photovoltaics.
Relevant experts pointed out that compared with photovoltaics, biomass power generation has a more cost advantage, which is an important reason that led to its ups and downs.
Shi Yuanchun, an academician of the Chinese Academy of Sciences and the Chinese Academy of Engineering, estimated that 13 million kilowatts of power generation capacity means 500-700 biomass power plants, and more than 100 biomass power plants will be built in a year.
"As affected by the nuclear accident in Japan, the safety of nuclear power development has received more attention, which may affect the speed of its development." Zhou Fengqi, senior adviser to the Energy Research Institute of the National Development and Reform Commission, pointed out that the cost of biomass power generation is low and the cost of solar power is high. It is one of the main causes of the faster development of biomass in the next five years.
Liu Tienan, deputy director of the National Development and Reform Commission and director of the National Energy Administration, said at the first meeting of China's rural energy work conference that it is necessary to rationalize the deployment of biomass power generation projects, promote the use of biomass fuel, steadily develop non-food biological liquid fuels, and actively promote biomass gas. Chemical engineering.
According to reports, in addition to reaching 13 million kilowatts of biomass power generation capacity by 2015, it is also necessary to centralize supply of gas to 3 million households, annual utilization of shaped fuels to 20 million tons, and annual utilization of biofuel ethanol to 3 million tons. Utilization reached 1.5 million tons. Experts predict that by 2015, biomass utilization will exceed at least 40 million tons of standard coal.
"For strategic emerging industries, all localities attach great importance and provide all kinds of support." An industry source disclosed to reporters that not long ago the Guangdong Provincial Development and Reform Commission issued a notice to specifically investigate the demand for loans for strategic emerging industries. Its purpose is to use loan commitments, guarantees, interest subsidies, and other methods to guarantee the funding needs of strategic emerging industries construction projects.
The reporter learned that in order to fully support the development of new energy industries, relevant departments have already identified some major actions and important supporting policies. Among them, the National Development and Reform Commission is currently organizing the implementation plan for comprehensive utilization of straw, plans to launch a straw comprehensive utilization pilot program, and intends to promote the development and promotion of large-scale automated straw collection machinery, in order to pave the way for the development of biomass energy. In addition, relevant departments will also promote the development of key equipment such as gas-fired internal combustion generator sets, as well as the industrialization of large scale biomass gasification and purification equipment.
Li Yuanpu, executive director of the China Renewable Energy Society, believes that in addition to the aforementioned measures, it is necessary to strengthen the breeding and industrialization of bio-energy plant raw materials.
It is to see the enormous potential of biomass energy development. In recent years, local governments such as Hubei and Shandong, as well as listed companies such as Kaidi Power and COFCO Biochemical, have concentrated their advantageous resources and increased their input into the biomass energy industry.
As the National Energy Administration's push for projects within five years, the billions of financial funds in the demonstration counties of green energy may be used to generate leverage. Perhaps the decision-making department wants to reverse the image of “manufacturing†under the feast of wind power and photovoltaics, and really start the use of green energy. Biomass energy is just for heavy use and light equipment manufacturing.
However, when investment promotion has become the inertia of local governments in recognizing political achievements, whether the heavy-consumption consumption of biomass can escape from the fate of the 11th Five-Year Plan is still to be solved.
Various signs indicate that the development of the national "12th Five-Year Plan" biomass energy will enter the acceleration phase.
On July 9th, at the first meeting of rural energy work in nearly 30 years, Liu Tienan, director of the National Energy Administration, announced the development goals of the “12th Five-Year Plan†for biomass energy: By 2015, biomass power generation capacity will reach 13 million kilowatts, and centralized supply of gas It has reached 3 million households, annual utilization of shaped fuel reached 20 million tons, annual utilization of bio-fuel ethanol reached 3 million tons, and annual utilization of biodiesel reached 1.5 million tons.
“An important impetus for achieving these development targets is the 200 green energy demonstration counties that the country will build during the 12th Five-Year Plan period.†Qin Shiping, a researcher at the Research Institute for Renewable Energy at the Energy Research Institute of the National Development and Reform Commission, told this reporter that at present, The state has announced the list of the first batch of 108 green energy demonstration counties.
According to Qin Shiping, according to the state's subsidy scope for green energy demonstration counties, the central government will have a subsidy of 4.75 billion yuan for the development of biomass energy. "In addition to supporting local governments, it will greatly stimulate the development of biomass energy."
The “Eleventh Five-Year†Biomass Energy Index is not completed. The reporter learned that among various renewable energy sources, the development of biomass energy is not satisfactory. It is the only new energy industry that has not achieved planning as scheduled during the “11th Five-Year Plan†period.
According to the Medium and Long-Term Development Plan for Renewable Energy and the 11th Five-Year Plan for Renewable Energy Development, the national development target for biomass energy during the “Eleventh Five-Year Plan†is that, in 2010, the total installed capacity of biomass power generation It reached 5.5 million kilowatts, the annual utilization of biogas reached 19 billion cubic meters, the annual biomass utilization of solid fuels reached 1 million tons, the annual non-grain fuel ethanol utilization increased by 2 million tons, and the annual biodiesel utilization reached 200,000 tons. .
The reporter found that, as of the end of 2010, biomass power generation installed capacity was about 5.5 million kilowatts, annual utilization of biogas was about 13 billion cubic meters, annual utilization of biomass solid formed fuel was about 500,000 tons, and annual production of non-grain raw material fuel ethanol For 200,000 tons, the annual output of biodiesel is about 500,000 tons.
Compared with the double development of wind energy and solar energy, the above five development goals of biomass energy have only achieved two results. Among them, only about 2/3 of the biogas utilization was completed, only 1/2 of biomass solid fuel was completed, and non-food fuel ethanol only completed about 10% of the target.
In this regard, Yuan Zhenhong, secretary general of the China Biomass Energy Special Committee of the China Renewable Energy Association, publicly stated that biomass energy experienced a process of pre-heat and post-cold during the “Eleventh Five-Year Planâ€. One of the main reasons was the support of the country’s industrial support. The policy did not keep up.
“In the current five-year policy that can be seen, the National Energy Administration will be a big plus for the green energy demonstration counties to be promoted in the future.†Zhuang Huiyong, general manager of the Ministry of Science and Technology of the State Energy Bio Power Group expressed to the reporter. "The green energy demonstration counties have better biomass resources and their industrialization base is better. With the support of the national finance, renewable energy needs to reach a certain percentage."
The so-called green energy demonstration counties are counties (cities) that have been jointly identified by the National Energy Administration, the Ministry of Finance, and the Ministry of Agriculture to develop and utilize green energy as the main means to solve or improve rural life energy use.
“In fact, for rural areas, renewable energy is mainly biomass energy. The green energy demonstration counties that have already been selected are counties with better biomass energy foundations.†Qin Shiping explained to this newspaper.
The model county learned from the Leverage Reporter that in the country’s overall plan for green energy demonstration counties, 50 were built in 2010, 200 in 2015, and 500 in 2020.
As early as the end of last year, the state announced the list of the first batch of green energy demonstration counties, including 108 counties including Beijing Yanqing, Hebei Zhangbei, and Jiangsu Rudong.
On April 27th, the Ministry of Finance, the National Energy Administration, and the three ministries of the Ministry of Agriculture jointly issued the Interim Measures for the Administration of Grants for the Construction of Green Energy Demonstration Counties (hereinafter referred to as the Interim Measures). According to the Interim Measures, the subsidy funds are arranged by the budget, and will be used and managed in accordance with the principles of “government guidance, market operation, county-level overall planning, and performance-based linking.†The central government's subsidy funds for each green energy county are in principle not More than 25 million yuan.
"Although the "Interim Measures" explained the green energy, it mainly refers to renewable energy such as biomass, solar energy, wind energy, geothermal energy, and hydropower. However, from the actual operation, subsidies are mainly directed at biomass energy." Qin Shiping, one of the participants in the Interim Measures, explained.
Qin Shiping analyzed that the highest subsidies for subsidizing the rural energy service system are 5%. The subsidies for the biomass energy industry that can be obtained in each county are up to 23.75 million yuan, according to the target of building 200 green energy demonstration counties in 2015. The subsidies available to the biomass industry are 4.75 billion yuan.
The time for the second batch of pilot applications is to be determined. Meanwhile, Article 10 of the “Provisional Measures†also stipulates the procedures issued by the central government subsidy, that is, for the model counties that meet the supporting conditions and have the ability to meet the prescribed targets, the central government comprehensively considers the annual construction plan, With regard to the scale of investment in the project and the arrangement of the central government budget, the demonstration subsidy funds shall be issued to the provincial finance departments in batches.
Among them, after the implementation of the plan, the fund will be allocated 1/3; after the mid-term evaluation is passed, 1/3 will be allocated; after the implementation plan is completed and the target is approved, the remaining funds will be disbursed.
In addition to the central government subsidies, local governments must also provide certain financial support. The “Provisional Measures†stipulates that local subsidy may adopt financial subsidy, subsidy for awards, and interest subsidy, etc. to support the construction of demonstration projects. The specific subsidy criteria shall be comprehensively considered by the local government in consideration of the construction content, investment scale, and self-raised funds of the enterprise. determine.
“Relevant departments have proposed that the subsidy standard for local financial supporting funds in the central and western regions is not less than 30% of that of the central government. However, this standard is a bit high for many failing county towns, so the “Provisional Measures†does not give A rigid request was made.†An expert who participated in the National Green Energy Model County Management Measures Symposium was introduced to this reporter.
Qin Shiping disclosed to this reporter that there are 84 counties reporting the implementation plan for the green energy demonstration counties, but only 26 have passed the expert review and the rest have been ordered to make changes. The start date of the second batch of green energy demonstration counties will be determined.
Biomass power generation: Xiao He pointed out that the supply of raw materials is the key to short-sighted sharp angle experts, and the short-term difficulty is the scale of hype. The “Twelfth Five-Year Plan for National Strategic Emerging Industries Development†(hereinafter referred to as the “Planningâ€) has entered the consultation stage. . At present, the installed capacity of biomass energy in the industry is relatively certain. Some people think that the low cost of biomass power generation and the high cost of solar power are one of the main reasons for the rapid development of biomass in the next five years. Therefore, biomass power generation is expected to become a major change in the new energy industry.
Affected by this, the recent concept of biomass power generation related stocks are active. Since the beginning of this week, the cumulative gains of biomass energy leaders Katie Power and Shengyun have exceeded 7%. And yesterday, Sheng Yun shares and Fuchun Environmental Protection rose again by more than 4%. In this regard, relevant experts cautiously stated in an interview yesterday that due to the small scale of biomass energy, it is difficult to form scale speculation except Kaidi Power, and related listed companies can pay attention to the biomass industry after forming a clear profit.
Katie Power is the "only" company?
In fact, compared to solar energy and nuclear power, biomass power generation has always received relatively low attention. In the A-share market, the relatively clear biomass power generation companies are only Katie Power. As of press time yesterday, Katie Power's telephone call has been unanswered.
According to statistics, in mid-2010, Kaidi Power invested in seven biomass power generation projects such as the Nanling Kaidi Biomass Power Plant Project. After that, the company has been accelerating the pace of building biomass power plants. In the first quarter of this year, Katie Power already had 23 biomass power plants. The July 29 Kaidi Power Disclosure report showed that the company's biomass power generation revenue reached 122 million yuan, an increase of 289.33%, the main revenue accounted for 8.89%. At the end of 2010, Katie Power's biomass power generation was only 937.692 million yuan, and its main revenue was 2.97%.
"From the report point of view, the company's biomass power generation business continues to rise." Xiangcai Securities electric utilities analyst Zhu Chenghui said in an interview with the Shenzhen People's Daily, "The future of Katie Power in the biomass power generation business should be There will be growth, because currently the income of this company's business only includes 4 power plants, and public information shows that the company has 23 power plants.In this way, future biomass power generation will contribute to the company's performance. ."
Zhu Chenghui told reporters that the current policy for biomass power generation price is 0.75 yuan / degree, and Kaidi Power's gross profit margin of this business is 20%, which means that the company's biomass power generation costs 0.6 yuan / degree. In the total cost of biomass power generation, the cost of fuel accounts for 70%.
In addition, Che-hung, the chief analyst of Tianxiang Investment Power Industry, believes that Kaidi Power's biomass power generation business is developing steadily. It is expected that there will be 11 grid-connected power generation by the end of this year, and the remaining power plants will also be completed in 2012. At the same time, as biomass power generation and biomass fuel are still in the policy guidance support period, it is expected that in the next 3 to 5 years, relevant support policies will be gradually clarified and refined, so Katie Power will enjoy good policy support.
Several companies have successively involved in just looking at the profitability of a biomass power generation at Katie Power. Perhaps it's not bad. So is the situation in the entire biomass power generation industry as well?
Zhu Chenghui said that in fact, for biomass power generation enterprises, there is no higher-end technology among them, so the technical threshold for entry is not high, but the key is that the raw material of straw currently has a situation of uneven supply and demand.
The reporter learned from the interview that due to the policy support of biomass power generation, many companies competed to enter the industry, and in order to save costs, the companies were located in villages with more straw producing areas. In this way, a situation arises in which straws are produced by villages and towns, and the needs of many enterprises. In this way, the middlemen will increase the price of straw and increase the cost of straw acquisition, which will obviously affect the performance of the industry.
It is understood that taking rice husk fuel as an example, the red line for the current profitability of Kaidi Power is 400 yuan/ton, but this red line was touched when it hit the “price war†in 2009; at the time, the rice husk purchase price was once Explored to 380 yuan / ton. With the adoption of ultra-high pressure fluidized bed technology, the red line for profitability of power plants may be raised to 600 yuan/ton, and the profitability of power plants will also rise.
“The acquisition cost of straw has a greater impact on biomass power generation companies. From what we learned about Katie Power’s acquisition of straw, the company’s disclosed information is 240 yuan/ton, but the actual purchase price is higher than this price. This shows that the purchase price of straw has been bullish," said Zhu Chenghui.
It is worth noting that another company listed in Biomass Power Generation, a listed company, has prepared a considerable amount of biomass power generation material when entering the industry. According to the announcement of the company, the company has signed a letter of intent for cooperation in the supply of biomass fuel with 12 forest farms, 5 wood processing plants and some middlemen. The annual supply reaches 510,000 tons, and the continuous and stable supply of fuel has been fully realized. Protection. From this point of view, the supply of biomass fuel has become an important weight for the continued growth of biomass power generation companies.
Shi Zhenlu, a researcher with large scale of small speculation and difficulty in Zhejiang Securities Industry, cautiously stated that as a branch of new energy, biomass energy accounts for a relatively small proportion. Correspondingly, the proportion of business income from biomass energy development in related companies is also small. Among the A shares, listed companies with relatively clear links with biomass energy include Kaidi Power, Shengneng Energy, and COFCO Biochemical. In addition, companies such as combustion control technology have related equipment production. Therefore, the concept of biomass energy itself is suspected of being speculative.
"Overall, the number of biomass energy targets is small, the market size is small, and the concept of subject matter is strong. From a speculative point of view, suitable for hot money speculation, from the perspective of investment, is still far from the point of time." Shi Zhenxi said that in the new Before energy as a whole has no clear profit model and sustainable government subsidies, biomass energy will appear as a phased shock market rather than a trending opportunity.
Huang Tingjun, a research fellow at Ping An Securities, pointed out that in addition to Kaidi Power, biomass energy concept stocks mainly include listed companies for biomass upstream resources (raw materials), listed companies for biomass energy equipment and listed companies for biomass energy operations. Individual stocks mainly include Wanxiang Deonong, Ronghua Industry, COFCO Biochemical, ST Guofa, Beidahuang, ST Ganhua, Huazi Industry, Hainan Coconut Island, Huaguang, Huadian International, and Shanneng Energy. After the profitability of the biomass energy industry is clear, the above companies can focus their attention.
New energy focuses on the four major industries Biomass energy has the unique advantage of low-cost advantages such as biomass energy generation, and will become a major focus of China's new energy industry. The reporter recently learned that the 12th five-year plan for strategic emerging industries has been developed. At the stage of soliciting comments, the introduction was close to the stage. As one of the seven strategic emerging industries, New Energy will focus on the four major industries of nuclear power, wind power, solar energy and biomass energy in future development. Among them, the installed capacity of solar and biomass power generation is basically determined, namely 10 million kilowatts and 13 million kilowatts respectively in the next five years. From a planning point of view, biomass energy has been overshadowed by photovoltaics.
Relevant experts pointed out that compared with photovoltaics, biomass power generation has a more cost advantage, which is an important reason that led to its ups and downs.
Shi Yuanchun, an academician of the Chinese Academy of Sciences and the Chinese Academy of Engineering, estimated that 13 million kilowatts of power generation capacity means 500-700 biomass power plants, and more than 100 biomass power plants will be built in a year.
"As affected by the nuclear accident in Japan, the safety of nuclear power development has received more attention, which may affect the speed of its development." Zhou Fengqi, senior adviser to the Energy Research Institute of the National Development and Reform Commission, pointed out that the cost of biomass power generation is low and the cost of solar power is high. It is one of the main causes of the faster development of biomass in the next five years.
Liu Tienan, deputy director of the National Development and Reform Commission and director of the National Energy Administration, said at the first meeting of China's rural energy work conference that it is necessary to rationalize the deployment of biomass power generation projects, promote the use of biomass fuel, steadily develop non-food biological liquid fuels, and actively promote biomass gas. Chemical engineering.
According to reports, in addition to reaching 13 million kilowatts of biomass power generation capacity by 2015, it is also necessary to centralize supply of gas to 3 million households, annual utilization of shaped fuels to 20 million tons, and annual utilization of biofuel ethanol to 3 million tons. Utilization reached 1.5 million tons. Experts predict that by 2015, biomass utilization will exceed at least 40 million tons of standard coal.
"For strategic emerging industries, all localities attach great importance and provide all kinds of support." An industry source disclosed to reporters that not long ago the Guangdong Provincial Development and Reform Commission issued a notice to specifically investigate the demand for loans for strategic emerging industries. Its purpose is to use loan commitments, guarantees, interest subsidies, and other methods to guarantee the funding needs of strategic emerging industries construction projects.
The reporter learned that in order to fully support the development of new energy industries, relevant departments have already identified some major actions and important supporting policies. Among them, the National Development and Reform Commission is currently organizing the implementation plan for comprehensive utilization of straw, plans to launch a straw comprehensive utilization pilot program, and intends to promote the development and promotion of large-scale automated straw collection machinery, in order to pave the way for the development of biomass energy. In addition, relevant departments will also promote the development of key equipment such as gas-fired internal combustion generator sets, as well as the industrialization of large scale biomass gasification and purification equipment.
Li Yuanpu, executive director of the China Renewable Energy Society, believes that in addition to the aforementioned measures, it is necessary to strengthen the breeding and industrialization of bio-energy plant raw materials.
It is to see the enormous potential of biomass energy development. In recent years, local governments such as Hubei and Shandong, as well as listed companies such as Kaidi Power and COFCO Biochemical, have concentrated their advantageous resources and increased their input into the biomass energy industry.