Is the era of green electricity coming with the rise of the wind power sector?

Recently, the green energy sector has continued to benefit from both policy support and market optimism. The “computing and electricity” synergy has been elevated to a national strategic level. International oil prices have fluctuated and risen due to geopolitical conflicts. Under these dual influences, the green energy sector has shifted from previous volatility, with leading stocks performing actively and market attention continuing to heat up.

From a capital perspective, among ETFs tracking the CSI Green Power Index, the largest green power ETF (562550) has recently attracted sustained capital inflows. As of March 16, it has experienced net inflows for six consecutive days, totaling 339 million yuan, with its latest size reaching 827 million yuan—an all-time high since inception, ranking first among the same index.

The “14th Five-Year Plan” outlines a goal to reduce carbon dioxide emissions per unit of GDP by 17% and to promote green and low-carbon transformation in key sectors. Meanwhile, the government work report for the first time explicitly mentions “computing and electricity” synergy, establishing a development pattern based on green electricity and hydrogen energy as a breakthrough.

1. Computing and Electricity Synergy: A New Infrastructure Engine Incorporated into Government Work Reports

In 2026, “computing and electricity” synergy was officially included in the government work report for the first time. The report clearly states the implementation of large-scale intelligent computing clusters and computing-electrical synergy projects as new infrastructure initiatives. This not only signifies a shift in technical terminology but also indicates that the foundational fields of computing power and electricity will enter a phase of deep integration and comprehensive optimization.

The explosion of AI large models has made the industry consensus that “computing power ends with electricity.” According to the China Academy of Information and Communications Technology, in a high-growth scenario for AI, China’s data center electricity consumption could exceed 700 billion kWh by 2030, accounting for 5.3% of total social electricity use. Behind this figure lies enormous energy consumption pressure and a historic opportunity for green electricity absorption.

Currently, China still exhibits a pattern of “computing power concentrated in the east and green electricity in the west”: the Yangtze River Delta’s computing demand grows at an average of 28% annually, but demand is mainly in the east, while green electricity is abundant in the west. Cross-provincial and cross-regional green power trading mechanisms are not yet fully developed.

This contradiction directly hits the core issue: without green electricity, computing power is not truly green; without demand for computing power, green electricity cannot realize its maximum value. Therefore, the essence of “computing and electricity” synergy is to let “watts” follow “bits,” and even more, to let “bits” actively seek “watts.”

2. AI Computing Power Explosion, Increasing Green Electricity Demand

Emerging high-energy-consuming fields such as AI computing centers and data centers are also becoming key growth points for green electricity demand.

The industry boom of AI large models is driving exponential expansion of computing capacity. According to the International Energy Agency, by the end of 2024, global data center electricity consumption will reach 416 TWh, with high growth expected to continue into 2026. Electricity costs have become a core operational expense for AI. The government has explicitly required that new data centers at national computing hubs allocate at least 80% of their electricity from green sources, further boosting green electricity consumption.

Global Data Center Annual Electricity Use (Unit: TWh)

3. Long-term Logic of the Green Power Industry Established

Driven by the “dual carbon” goals, energy security, and cost advantages, replacing traditional fossil fuels with green electricity has become an irreversible long-term trend. The green power industry is expected to enter a sustained high-growth cycle.

1. Industry Scale Continues to Expand, Growth Momentum Remains Strong

In recent years, China’s green power industry has developed rapidly, with installed capacity and power generation steadily increasing. According to the National Energy Administration, by 2025, new photovoltaic (PV) installations nationwide reached 317 million kW, up 14% year-over-year; by the end of 2025, PV capacity reached 1.2 billion kW, up 35%; PV power generation totaled 1.17 trillion kWh, up 40%, with utilization efficiency at 95%. Hydropower capacity stands at 450 million kW, wind power at 640 million kW, and biomass power at 47 million kW, making China one of the leading countries globally in renewable energy capacity.

New Installed Capacity for Wind and Solar (Unit: 10,000 kW)

Since 2026, the growth momentum has further accelerated. Data shows that in January-February 2026, renewable energy power generation nationwide reached 789 billion kWh, up 16.8% year-over-year, with non-fossil fuel energy accounting for 23.5% of total electricity consumption. As direct green power connection projects accelerate, technological advances continue, and costs decline, the green power industry’s growth potential will be further unleashed.

2. Application Scenarios Continue to Expand, Demand Space Fully Opens

Alongside the continuous expansion of scale, green electricity applications are extending from traditional industrial sectors to buildings, transportation, agriculture, and service industries, broadening demand.

Additionally, residential green electricity consumption is gradually rising. More households are installing rooftop photovoltaics or purchasing green electricity to practice a low-carbon lifestyle, further expanding the market. The diversification of application scenarios provides stable demand support for the long-term development of the green power industry and offers broad growth opportunities for related companies.

4. One-Click Deployment, High-Purity Power Index

Under the resonance of multiple favorable factors, the structural dividends of the green power industry will continue to be released, making it one of the most promising investment tracks in the coming years.

As a convenient tool for deploying this sector, the Green Power ETF (562550) closely tracks the CSI Green Power Index, allowing investors to easily bundle industry leaders.

In terms of industry purity, the CSI Green Power Index has a 99.26% weight in the power sector within the Shenwan secondary classification, significantly higher than the GuoZhen Green Power Index and the CSI Power Index. It is currently the highest “power content” index in the market.

Segmented Structure: According to Shenwan tertiary industry classification, the ETF’s holdings include clean energy companies such as hydropower, wind, and solar, as well as energy transition companies like thermal power and nuclear power. The index has high concentration, with the top four industry weights totaling 82.81%.

Data source: ifind, as of March 10, 2026.

Among products tracking the CSI Green Power Index, the Green Power ETF (562550) ranks first in size. The fund benefits from three major dividends: demand for clean energy from AIDC, rising green certificate prices, and expanding electricity demand from token exports. It is an efficient tool for one-click deployment in the green power sector and capturing the energy transition benefits of the AI computing era.

Specifically, the Green Power ETF (562550)’s top ten holdings account for 48% of the total, including industry leaders such as China Yangtze Power, China Nuclear Power, China Three Gorges Energy, State Power Investment Corporation, and Huaneng International, offering high industry representativeness.

Furthermore, the “computing and electricity” synergy and the AI boom will also catalyze grid upgrades. The Power Grid Equipment ETF (159326) is the only ETF tracking the CSI Power Grid Equipment Index, with over 77% of its holdings in the power grid sector—making it the purest power grid index in the market. It includes industry giants like State Grid NARI, TBEA, and Siyuan Electric, covering the entire industry chain. It is a key tool for capturing the high growth of the power grid equipment industry, supporting TBEA’s ultra-high voltage projects, smart grid upgrades, and AI computing power grid transformations.

Data source: ifind, as of March 10, 2026; power grid content from Shenwan secondary classification; “Wind, Solar, Water, Nuclear” content from Shenwan tertiary classification; ultra-high voltage and smart grid content refers to the weight of related concept stocks in the index.

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