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SHANGHAI ELEC GP UNSP/ADR (SIELY) is a prominent player in the energy sector, specializing in cutting-edge nuclear power technology. Shanghai Electric, a key participant in the world's first nuclear power plant project to feature Gen IV nuclear power technology, recently achieved a milestone with the successful commercial operation of the Shidaowan High-Temperature Gas-Cooled Reactor Pebble-bed Module (HTR-PM) demonstration project. This groundbreaking project marks China's advancement in nuclear energy innovation, emphasizing safe, reliable, and sustainable power sources to support carbon neutrality goals. Shanghai Electric's contributions to the project include supplying essential equipment such as reactor pressure vessels, turbines, and control systems, showcasing its expertise in the industry. With a focus on HTGR technology, Shanghai Electric is at the forefront of developing safer and more efficient nuclear power solutions, solidifying its position as a leader in the global energy sector.
Shanghai Electric Wind Power Group, a subsidiary of Shanghai Electric (SEHK:2727, SSE:601727), has taken delivery of Asia's first offshore wind power service and operation vessels (SOVs), Zhizhen 100 and Zhicheng 60, in Qidong, Jiangsu province. Built by Zhenhua Heavy Industries, these motherships are designed for continuous operation and maintenance in deep water and deep-sea wind farms.
The new SOVs address several challenges faced by China's current marine transportation ships, including short window periods, inability to hold continuous operations, frequent round trips, low efficiency, and poor performance in severe sea conditions. These vessels integrate efficient, green, and smart operations and maintenance capabilities, positioning Shanghai Electric as a leader in offshore wind power technology and services.
Shanghai Electric has completed a comprehensive upgrade of Vietnam's Ninh Binh Power Plant, one of the country's first power plants. The project has increased the output of each of the four steam turbines from 25MW to 27MW and is expected to extend the plant's operational lifespan by 30 years. Built in 1974, the plant is important for northern Vietnam's infrastructure and economic growth, capable of producing 800 million kilowatt-hours of electricity annually at full capacity.
The upgrade addressed complex wear and aging issues, overcoming challenges such as lack of technical documentation. Shanghai Electric provided technical enhancements, including control system upgrades, environmental improvements, and boiler co-firing capabilities. The project has restored turbine efficiency to optimal levels, maximizing power output and improving local grid stability.
Shanghai Electric (SEHK: 2727, SSE: 601727) has launched a comprehensive training program for over 700 newly recruited graduates, focusing on youth career development in the energy industry. The program aims to nurture talent for sectors reshaping the energy landscape, with a strategic focus on innovation in high-end, intelligent, and green industrial and energy equipment.
Key highlights of the recruitment drive include:
- 48% of new hires hold master's or doctoral degrees
- 78 graduates from world-leading universities
- 34% specializing in AI, intelligent manufacturing, and automation
- 40% from green industry backgrounds
The company has implemented a digital recruitment process and developed the 'Excellence E+' talent development framework to maximize young professionals' potential. Subsidiary groups have also launched targeted programs for hands-on training and leadership development in renewable energy sectors.
Shanghai Electric (SIELY) unveiled ambitious plans to advance self-reliance in science and technology at its Technology Conference 2024. The company aims to boost innovation in new energy and industrial equipment sectors. Key highlights include:
1. Integrating resources to foster an innovation ecosystem
2. Establishing national key laboratories and R&D centers
3. Launching a three-year action plan to enhance talent development
4. Allocating 17.7 billion RMB to R&D from 2021 to 2023, with 30% directed towards emerging sectors
5. Forming strategic partnerships with Shanghai Jiao Tong University and Tsinghua University
Chairman Wu Lei emphasized the company's commitment to technological innovation and its goal to become an innovation powerhouse contributing to national strategy and industrial development.
Shanghai Electric (SEHK:2727, SSE:601727) has made significant progress in reducing green hydrogen production costs with its new Z-series alkaline electrolyzer technology. This innovation aims to make emission-free hydrogen production more economically viable, accelerating its adoption in various industries. The company is focusing on integrating wind, solar, storage, and hydrogen as a key strategy for expanding clean energy applications.
Shanghai Electric has been advancing hydrogen production technology since 2015, developing both alkaline water electrolysis and proton exchange membrane (PEM) water electrolysis methods. In 2023, the company released China's largest single hydrogen production unit and a megawatt-level PEM electrolyzer. The company is also exploring hydrogen applications in green chemistry and hydrogen-blended gas turbines, with projects across power, transportation, and chemical sectors.
Shanghai Electric (SEHK:2727, SSE:601727) took center stage at the SNEC PV Power Expo 2024 held from June 13-15, showcasing innovations in solar, energy storage, and hydrogen solutions. Key highlights included strategic cooperation agreements signed by subsidiaries Hency Solar and Shanghai Electric Gotion with 14 industry players. Notable products presented were the 'Intellectual' and 'Edgeless' solar modules, advanced energy storage systems from the 'Elite Cool' series, and the 'Z' series alkaline electrolyzer. The agreements aim to accelerate renewable energy deployment and drive global sustainability.
Shanghai Electric (SEHK:2727, SSE:601727) showcased its latest renewable energy solutions at the second Shanghai International Neutrality Expo from June 5th to 8th, 2024. The company highlighted its advancements in wind, photovoltaics, energy storage, and grid technologies. These innovations align with China's carbon-neutral strategy. Additionally, Shanghai Electric presented integrated equipment systems aimed at optimizing system performance and enhancing intelligent control.
Shanghai Electric showcased its green energy and industrial solutions at China Brand Day 2024, emphasizing clean energy technology to build a greener future. The exhibition highlighted the company's commitment to low-carbon innovation, technological breakthroughs, and global energy transformation. Shanghai Electric's focus on sustainable progress and prosperity aims to drive economic growth and environmental sustainability.
Shanghai Electric (SEHK:2727, SSE:601727) released its 2023 ESG report showcasing significant achievements in sustainable development. The report highlights a reduction in standard coal consumption by 3,234 tons, CO2 emissions by 8,409 tons, and a 40% decrease in water usage. The Company invested 70 million RMB in environmental protection, marking a five-year record high. Shanghai Electric continues to lead in green technology innovation, with notable advancements in low-carbon technologies, R&D investments, and global sustainability efforts.
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