Leading New Energy Enterprises Landing Major Investments in Succession

Since the first quarter of this year, China’s new energy industry has ushered in a new wave of investment. From the national power grid to leading electric vehicle battery manufacturers, from giant anode material producers to wind power equipment leaders, a series of “big-ticket” investments have been continuously announced.

According to Shanghai Securities News, as the “dual carbon” goals advance and favorable policies for new energy continue to be released, many leading new energy companies are accelerating their nationwide expansion, focusing on integrated wind, solar, and energy storage, power battery manufacturing, and new energy materials. They are leveraging large investments, capacity expansion, and supply chain improvement to further strengthen their industry positions and seize development opportunities.

Leading Companies Increasing Investment

Recently, China General Nuclear (Shanxi) New Energy Investment Co., Ltd. completed its business registration, with the registered capital increasing from 50 million yuan to approximately 8.56 billion yuan. This capital increase also introduced three financial institutions under large state-owned banks as strategic shareholders through market-based methods. The new funds will mainly be used for the development, construction, and operation upgrades of clean energy projects such as wind, solar, and energy storage in Shanxi, as well as for expanding comprehensive smart energy initiatives and acquiring high-quality external new energy assets.

Data shows that this is not an isolated case.

Since 2026, many leading companies have been active: in January, Fulin Precision’s subsidiary established Inner Mongolia Fulin Times New Materials Co., Ltd. in Ordos, investing 6 billion yuan to build an annual production capacity of 500,000 tons of high-end lithium iron phosphate for energy storage; in February, CATL signed a strategic cooperation agreement with Ningde city government, planning a total investment of over 60 billion yuan to establish a global headquarters and “mother factory”; in March, Zhengli New Energy signed a contract for a 50 GWh long-term energy storage intelligent manufacturing project in Changshu, Suzhou, with a total investment of 10 billion yuan…

Professor Li Zhi from Xiamen University’s Energy Economics Research Center analyzed to Shanghai Securities News that the massive capital increases by leading companies are a forecast of the changing industrial logic during the 14th Five-Year Plan: to seize new market spaces, technological tracks, and dominant business models. In the short term, these moves are capital expenditure expansions; in the long term, they are key strategic layouts to lock in global competitiveness and avoid risks associated with traditional industry decline.

Industry Investment Presents New Opportunities

The “14th Five-Year Plan” outline proposes “building a new energy system centered on water, wind, solar, and nuclear energy,” which brings new development opportunities for related industries. Han Wenke, researcher at the China Macroeconomic Research Institute, told Shanghai Securities News that since the first quarter, several favorable policies have been released in the new energy sector: at the end of January, a notice to improve the capacity electricity price mechanism for power generation projects was issued, opening stable profit channels for energy storage projects; in March, the “Basic Rules for the Medium- and Long-term Power Market” was officially implemented, further improving the trading mechanism for new energy markets. Additionally, policies such as pilot projects for hydrogen energy applications and guidelines for photovoltaic module recycling have been rolled out, forming a policy support system covering the entire industry chain.

Against this backdrop, “new energy” has become a frequently mentioned term in government work reports of provinces, regions, and cities. According to incomplete statistics, more than 20 provinces have explicitly listed wind, solar, storage, and hydrogen energy industries as key development directions.

As a pilot province for national energy revolution comprehensive reform, Shanxi issued the “Notice on the Mechanism Electricity Price Bidding for Incremental New Energy Projects in 2026” at the beginning of 2026 to address the core issue of revenue uncertainty in new energy investments. The notice specifies that for new incremental projects in 2026, a mechanism electricity price of 0.2 to 0.32 yuan per kWh (including tax) will be set, with a long-term lock-in period of 10 years.

Han Wenke pointed out that when national policies and industry trends work together, they can stimulate new market vitality. The significant investments distributed across different regions of the country are the most direct recognition of the development prospects of the new energy industry.

(Source: Shanghai Securities Journal)