推进新一轮大型太阳能项目 LSS5价值达70亿

（吉隆坡29日讯）为配合新能源转型大蓝图（NETR）项目，政府推出一系列能源倡议划和举措，而市场预计，仅第5大型太阳能项目（LSS5）的施工、采购、建造和启用（EPCC）的工作岗位将达到70亿令吉。

副首相兼能源转型及公共事业部长拿督斯里法迪拉尤索夫，在上周宣布了一系列转型举措，其中累计可再生能源转型配额达2.8吉瓦，电池储能系统（BESS）项目则达400兆瓦。

在计划方面，还包括继续实施净能源计量（NEM）项目，当中将增加400兆瓦配额。

至于LSS5招标，竞标配额已从LSS4限制的50兆瓦，一举提升到500兆瓦，预计将在今年4月进入建议书征求（RFP）阶段。

同时，政府将大力推动低碳能源发电计划，配额达400兆瓦，当中将透过全新改进供电方案（NEDA）机制进行，即透过非太阳能源，如风能、水电等展开。

丰隆投行研究分析员表示，这绝对是一个振奋人心的消息，因为随着配额提高，将有助于带动相关领域和股项表现。

规模大幅增加

分析员表示，在早去年政府就公布了NETR项目，当时放眼2050年可再生能源份额可到达70%，而此时此刻，项目终于启动开展。

“我们认为，关键亮点在于LSS5的竞标进程重返眼帘，而其规模更是大幅增加到2吉瓦，比LSS4授予的配额大2.4倍。”

分析员点出，LSS5计划预计将带来70亿令吉的太阳能合约，不过，现阶段的详情仍然缺乏，但相信整体配额将在2025年上半年发放，届时会敲定EPCC合约。

当然还有些信息值得注意，那就是随着规模扩大，不晓得外资仍然如LSS4般禁止加入。

尽管如此，随着电板价格持续下滑，相信投标价格将会创下新低。

再生能源主题涌现

分析员继续对再生能源领域给出“增持”评级，同时看好相关领域将会步入结构强劲的主题，以及净利增长周期。

“随着计划公布，我们相信Solarvest（SLVEST，0215，主板工业股）和Samaiden集团（SAMAIDEN，0223，主板工业股）将成为大赢家之一，进而给出‘买入’评级，目标价分别是1.55令吉和1.43令吉。”

主要催化剂则是合约推出、新的再生能源配额和出口消息等。

兴业投行研究则看好Sunview集团（SUNVIEW，0262，创业板）、柏卡集团（PEKAT，0233，创业板）和RL能源（RL，0219，主板能源股）也能从中获益。

吸引更多老牌企业

分析员表示，随着配额增加，相信会有更多分包和安装工作涌现，同时也会吸引更多拥有雄厚资金的老牌企业参与。

MIDF投行研究分析员则表示，杨忠礼电力（YTLPOWR，6742，主板公用事业股）和国家能源（TENAGA，5347，主板公用事业股）等大型公司将会加入，各组财团争夺更大的产能。

分析员表示，由于投标份额提升，资本开销可能会来到20亿至30亿令吉之间，而这非常考验资产负债表的能力。

“我们注意到之前的LSS得标者还包括来自产业、种植公司和建筑领域等非公用事业公司。鉴于对土地储备的巨大需求，地库持有者可以作为战略合作伙伴加入。”

“Large Scale Solar 5 alone will provide RM7b worth of solar EPCC jobs”

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) research estimates that solar engineering, procurement, construction and commissioning (EPCC) jobs from Large Scale Solar 5 (LSS5) alone will hit RM7 billion, with quota winners likely to be announced in the first half of 2025.

The research firm’s note comes after Energy Transition and Public Utilities Minister Datuk Seri Fadillah Yusof announced a series of energy transition programmes and initiatives for 2024 last week, having considered grid capabilities, green energy demand and multiplier effects.

HLIB research said the fifth bidding cycle of the Large Scale Solar (LSS) programme making a comeback with a significantly upsized quotas of 2GW (floating solar: 500 megawatt (MW), was a key highlight.

The request for proposal (RFP) will be available for purchase from Energy Commission from April 1, 2024 onwards.

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) research estimates that solar engineering, procurement, construction and commissioning (EPCC) jobs from Large Scale Solar 5 (LSS5) alone will hit RM7 billion, with quota winners likely to be announced in the first half of 2025.

The research firm’s note comes after Energy Transition and Public Utilities Minister Datuk Seri Fadillah Yusof announced a series of energy transition programmes and initiatives for 2024 last week, having considered grid capabilities, green energy demand and multiplier effects.

HLIB research said the fifth bidding cycle of the Large Scale Solar (LSS) programme making a comeback with a significantly upsized quotas of 2GW (floating solar: 500 megawatt (MW), was a key highlight.

The request for proposal (RFP) will be available for purchase from Energy Commission from April 1, 2024 onwards.

Overall, it views the cumulative 2.8GW of new renewable energy (RE) quotas announced through various programmes, significantly uplifting for the sector and for both stocks under coverage.

It sets in motion the government’s 2050 70 per cent RE share target as outlined in the National Energy Transition Roadmap (NETR) unveiled last year.

It made no changes to its “Overweight” rating on the RE sector.

HLIB research said the sector rides onstrong structural themes as well as positive earnings growth cycle.

It has Buy calls on Solarvest Holdings Bhd (target price (TP): RM1.55) and Samaiden Group Bhd (TP: RM1.43) are key winners from the slew of programmes announced.

Key catalysts include contract rollout, fresh RE quotas and export news flow. Risks include execution and slow implementation. -ends-

来源：阅读原文