《大行報告》美銀證券上調大唐新能源(01798.HK)至2.1元 評級「買入」
美銀證券發表的研究報告指,大唐新能源(01798.HK)對內地處理補貼應收帳款處理有信心,並指出據財政部於去年11月刊發的文件,敦促電網公司將合資格可再生能源項目列入補貼名單,意味財政部計劃處理補貼的應收帳款問題。據相關文件,合資格的可再生能源應為2006年後連接的電網,並在政府核准工程名單上,而價格亦獲監管機構批准。公司不預期會在五年內收回所有補貼的應收帳款,與該行預期一致,將公司目標價由1.85元升至2.1元,重申「買入」評級。
中國風能協會指出,國家能源局已提升可再生能源目標以達到2060年碳中和的目標,並確認人行計劃為可再生能源項目開發商提供低成本借貸,同時要求處理補貼應收帳款問題。協會估計「十四五」期間可再生能源安裝量每年將逾100吉瓦,當中風電每年安裝量將逾50吉瓦。協會亦指出內地政府堅決處理補貼的應收帳款問題,或會讓國有銀行等募資以達到目標,不過可再生能源項目的開發商如要提前領取應收帳款,將要承擔利息開支,雖然國有開發商不願承擔,但料很多私營開發商均願意。
另外協會估計離岸的風電項目三年內將達至「市電平價」,主要受惠建築成本降低、政府支持下融資成本下降以及規模效益等,協會對風電渦輪機生產商等看法樂觀,估計「十四五」期間本地生產商出口量將大增。(el/u) ~
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