The two "national team" enterprises go overseas and spread the good news!
On the evening of October 10, PowerChina and China Energy Construction successively issued announcements announcing that they had won a number of overseas new energy projects, with a total amount of more than 30 billion yuan.
Among them, the consortium led by Power China signed a large photovoltaic order worth about 11.719 billion yuan, the project is located in Saudi Arabia, and China Energy Construction, its subordinate consortium also won the general contracting contract for new energy projects with a total amount of about 19.554 billion yuan.
This means that China's "green power" technology and construction capabilities are accelerating to the world.
Two super solar power plants will be built in two years
Specifically, several companies under Power China, China Hydropower Construction Group International Engineering Co., Ltd. and East China Survey and Design Research Institute, together with PowerChina Group, formed a "cooperative team" (consortium) and signed two large contracts with Saudi Arabia's Afif Renewable Energy Company.
The two projects are "Saudi Arabia Afif 1 Photovoltaic" and "Afif 2 Photovoltaic", both located in the town of Afif near Riyadh, the capital of Saudi Arabia. The contract amount of each project is close to 5.9 billion yuan, adding up to about 11.719 billion yuan.
The project will build a large-scale solar power plant, including:
2,000 megawatt photovoltaic panel array (equivalent to a large-scale "solar farm") Substations, which increase the voltage for long-distance transmission Transmission lines, connecting roads and other supporting projects The contract stipulates that both projects will be completed within 26 months, which is about two years.
Power China and Energy Construction Group went overseas
Power China: Overseas orders are hot, signing more than 140 billion yuan in half a year
In the first half of this year, PowerChina vigorously expanded its overseas business, not only improving efficiency, but also increasing its scale.
From January to June, the total number of new international contracts signed reached 141.665 billion yuan, a year-on-year increase of 17.5%, accounting for 20.6% of all new contracts signed by the company; overseas revenue was 43.715 billion yuan, an increase of nearly 6% year-on-year, accounting for about 15% of the company's total revenue.
The company said that it is taking advantage of the "Belt and Road" cooperation opportunities to accelerate transformation and upgrading and promote the high-quality development of international business.
China Energy Construction: Jointly won three major new energy projects in Saudi Arabia, with a total amount of nearly 20 billion
China Energy Construction also came with good news: its subsidiary China Energy Construction International, Guangdong Thermal Power, and Northwest Electric Power Design Institute formed a "joint team" to sign three large-scale new energy projects with Saudi project companies, with a total amount of about US$2.745 billion (about 19.554 billion yuan).
These three projects are all "heavyweights":
Shakira 1GW wind power project: build a 1,000 megawatt wind farm with a contract value of US$663 million and a construction period of 26 months; Stella 2GW wind power project: build a 2,000 megawatt wind farm with a contract value of US$1.251 billion and a construction period of 30 months; Foris 2GW photovoltaic project: build a 2,000 megawatt solar power plant with a contract value of US$831 million and a construction period of 26 months.
These projects are part of the clean energy program of the Saudi Public Investment Fund (PIF) and are built by the Chinese team. To put it simply: China's "green electricity" corps is going overseas as an organization, and has won super orders in the Middle East one after another!
Overseas is getting bigger and bigger, and it is becoming more and more "green"
In the first half of 2025, China Energy Construction handed over a solid report card:
total revenue reached 212.091 billion yuan, a year-on-year increase of 9.18%; net profit was 2.802 billion yuan, a year-on-year increase of 0.72%.
The company said that this is mainly due to the vigorous promotion of the "going out" strategy and the strong momentum of overseas business.
In the first six months of this year, the company's new contracts, operating income and profit overseas all achieved double-digit growth:
The amount of new overseas contracts signed increased by 13.74% Overseas revenue increased by 12.92% Overseas profit increased by 10.15%
The business structure is also constantly being optimized, focusing on the construction of energy and power infrastructure.
Among them, new energy projects have become the biggest highlight:
more than 80% of the newly signed overseas power projects are energy and power, especially green energy projects such as "wind energy, photovoltaic, hydrogen energy, and energy storage" (hereinafter referred to as "wind and solar hydrogen storage"), and the contract amount has soared by 78.6% year-on-year.
To put it simply: China Energy Construction is not only getting bigger and bigger overseas, but also becoming more and more "green".
Jingtai suggestions|Three main lines, laying out the dividends of "the Belt and Road + new energy going overseas"
1. Direct positive: China Power Construction, China Energy Construction - order-driven growth is clear
Power China: In the first half of 2025, the international new contract amount was 141.665 billion yuan, a year-on-year increase of 17.5%; International revenue accounted for nearly 15% and continued to increase.
China Energy Construction: In the first half of the year, the amount of new overseas contracts signed increased by 13.74% year-on-year; New energy (wind, solar and hydrogen storage) contracts increased by 78.6% year-on-year!
Both companies have entered the stage of "accelerated release of international orders", and their valuations are still at historical lows, with the potential of "performance + valuation" double-clicking.
2. Extension of the industrial chain: pay attention to "overseas support" enterprises
Large-scale new energy projects require: photovoltaic modules (LONGi, Jinko, Trina); wind turbines (Goldwind Technology, Mingyang Intelligence); Inverter (Sungrow, Jinlang Technology); Energy storage system (CATL, BYD).
Although the contract is EPC general contracting, there is a high probability that the equipment procurement will be "supported in China", and related enterprises will indirectly benefit.
3. Long-term layout: Middle East new energy investment platform and operation and maintenance service provider
After the completion of the project, there will be long-term: operation and maintenance service demand; digital management needs; Energy trading demand.
Attention: Energy service companies that have been deployed in the Middle East; A platform enterprise with experience in overseas power plant management.
