摩根士丹利发表报告指出，2025年7月19日，雅鲁藏布江下游水电工程正式开工建设。该项目位于西藏林芝，由新成立的中国雅江集团有限公司负责运营，共包括五座梯级电站，计划投资约1.2万亿元(相较于三峡工程的2500亿元及白鹤滩工程的2200亿元)。 大摩认为，覆盖范围内的主要受益者可能包括特高压输电设备企业：平高电气、许继电气、国电南瑞、思源电气。此外，以下领域亦可能存在机会：1)水电站工程公司；2)主要水电设备制造商，如东方电气和哈尔滨电气。该行亦看好“水光风互补基地”的发展潜力，利用枯水期太阳能及风能实现稳定的可再生能源输出。
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