National Data Bureau experts emphasize the true meaning of integrated electricity and data collaboration. Ningbo Energy and Tongbao Energy hit the daily limit in the afternoon.

On March 25th, the green power sector continued its upward trend in the afternoon. As of the time of writing, the constituent stocks Ningbo Energy (600982.SH) and Tongbao Energy (600780.SH) hit the daily limit-up. Previously, stocks such as Zhongmin Energy (600163.SH), Shaoneng Shares (000601.SZ), Fuchun Environmental Protection (002479.SZ), JinKong Power (000767.SZ), and Baoxin New Energy (000690.SZ) also reached the limit-up. Additionally, popular leaders like Huaneng Liaoning Power (600396.SH) hit the limit 8 days in a row, Huaneng Energy (600726.SH) hit 3 limit-ups in 5 days, Zhejiang New Energy (600032.SH) hit 3 limit-ups in 3 days, and Yuedian A (000539.SZ) hit 4 limit-ups in 6 days.

On the news front, the “Shenzhen City Action Plan for Accelerating High-Quality Development of the Artificial Intelligence Server Industry Chain (2026–2028)” proposes to create benchmark zero-carbon data centers with “photovoltaic/offshore wind + energy storage + green power direct connection” tailored to local conditions, helping to meet local computing power demand and promote efficient use of green electricity.

Additionally, Liu Liehong, Director of the National Data Bureau, stated at the China Development High-Level Forum 2026 Annual Meeting that the next step will be to vigorously promote the computing power and electricity collaboration project, ensuring that more than 80% of new computing power facilities at hub nodes use green electricity, maximizing the supporting role of green power.

Zhang Xianghong, a member of the Expert Advisory Committee of the National Data Bureau, said, “The essence of computing and electricity collaboration is to use our country’s advanced green electricity to develop our computing and artificial intelligence industries.”

Everbright Securities believes that as offshore wind power projects accelerate construction, offshore wind capacity outside China is expected to see significant growth by 2026. Based on the construction pace outside China, it is estimated that overseas offshore wind capacity could reach 12 GW in 2026, a substantial increase from 3.1 GW in 2025. Specifically, Europe is expected to reach 7.5 GW in offshore wind capacity in 2026, up from 2 GW in 2025.

Dongwu Securities states that the deepening of electricity reform and revaluation of the power sector will bring significant benefits. The three main constraints on green electricity—“consumption + electricity prices + subsidies”—are gradually easing, with new energy fully entering the market and market-oriented development leading the high-quality growth of new energy. Founder Securities believes that in 2025, many regions will see downward pressure on long-term contract electricity prices, with policies such as retail price gap restrictions introduced to curb irrational competition. Starting in 2026, capacity electricity price compensation ratios are generally increased, suggesting that the short-term bottoming of the power sector is likely. The industry is shifting from a phase of “price and volume decline” to a new stage of “stabilized prices and increased revenue,” which could drive a reassessment of sector value.