According to the announcement of the day, the main project of Meizhou Pumped Storage Power Station Phase II, which was invested and built by Peak Regulation and Frequency Modulation Company, started.
Meizhou Pumped Storage Power Station is located in Longchun Town, Wuhua County, Meizhou City, Guangdong Province, with a planned total installed capacity of 2.4 million kilowatts. It will be built in two phases: the installed capacity of the first phase of the project10.2 million kilowatts will be completed and put into operation in the first half of 2022; The second phase of the project is expanded on the basis of the first phase, with a planned installed capacity of 65.438+200,000 kilowatts and a total investment of 4.659 billion yuan. It is planned to be fully completed and put into operation in 2025.
Wenshan Electric Power is a listed company in China Southern Power Grid, mainly engaged in hydropower generation and power supply business, and operates Wenshan local power grid, mainly serving Wenshan, Yanshan, Funing and Qiubei counties in Wenshan Prefecture in southern Yunnan Province.
According to the mid-year report, in the first half of 2022, Wenshan Electric Power achieved operating income of11620,000 yuan, a year-on-year increase of1/0.05%; The net profit returned to the mother was 65.438+002 billion yuan, down 654.38+06.75% year-on-year.
Thanks to the price increase of power supply business, Wenshan's power revenue increased year-on-year. However, due to the increase of power purchase cost, investment income and profit decreased. He Xiao Yu Xiang, power utility analyst of Chuancai Securities, said.
Recently, Wenshan Power Energy Storage Major Assets Restructuring Project was approved by SASAC and approved by M&A Committee of China Securities Regulatory Commission.
On 202 1 10, Wenshan electric power first disclosed the reorganization plan and officially announced the start of the acquisition of the peak-shaving FM company.
At the beginning of May this year, the draft of reorganization landed. The specific scheme is as follows: Wenshan Electric Power invested 65.438+000% equity in Peak-shaving FM Company by means of major asset replacement and share issuance, and the related assets and liabilities focusing on power purchase and sale, power design and power distribution were priced at 265.438+004 billion yuan, and the difference was purchased by listed companies by means of share issuance.
At the end of August this year, the restructuring was approved by the China Securities Regulatory Commission.
On September 1 day, Wenshan Power signed the Confirmation of Asset Delivery with China Southern Power Grid and Yunnan Power Grid, confirming the completion of the procedures for the delivery of placed assets. The equity of Peak-shaving FM Company has been changed and registered under the name of Wenshan Electric Power, and the reorganization has landed.
On September 6th, Wenshan Electric Power plans to change its company name to China Southern Power Grid Energy Storage Co., Ltd., referred to as China Southern Power Grid Energy Storage.
Before the reorganization, Wenshan Electric Power was mainly engaged in power purchase and sale, design and other related businesses in Wenshan Prefecture, Yunnan Province. After the reorganization, it is planned to build the largest power grid-side energy storage platform A-share listing.
On September 16, Wenshan Power said at the 2022 semi-annual performance briefing that the restructuring is progressing smoothly as planned. After the reorganization, the company's main business is the development, investment, construction and operation of pumped storage, peak-shaving hydropower and independent energy storage business on the grid side, which still belongs to the power sector.
At the same time, Wenshan Power said that at present, the company's energy storage business mainly involves five southern provinces (Guangdong, Guangxi, Hainan, Yunnan and Guizhou). In the future, according to industry development and market development opportunities, it will consider deploying new energy storage business outside the southern power grid area.
According to Wenshan Electric Power Company, Peak Regulation and Frequency Modulation Company is one of the earliest enterprises in China to enter the pumped storage industry. At present, the 1 1 pumped storage project of Peak Regulation and Frequency Modulation Company has entered the preliminary stage, with a total capacity of12.6 million kilowatts, which will be completed and put into operation one after another during the "14th Five-Year Plan" to the "16th Five-Year Plan".
After the reorganization, Wenshan Electric Power will become one of the leading listed companies in the domestic energy storage industry and is expected to fully benefit from the rapid development of the energy storage industry. Chuancai Securities predicts that Wenshan Electric Power will realize net profit of 1.65, 438+09, 1.35, 654.38+60 billion yuan in 2022-2024, corresponding to PE of about 65.38, 57.64 and 48.62 times.