SHANGHAI ELEC GP UNSP/ADR - SIELY STOCK NEWS

The inauguration of Shanghai Electric New Energy Development on July 15, 2022, marks a significant step in expanding Shanghai Electric's green and low-carbon initiatives. The firm announced a RMB 3 billion investment, with partners to develop renewable energy projects aligning with China's carbon peak and carbon neutrality goals. This includes a roadmap for winds, solar, hydrogen, and storage energy projects. The new entity aims to create a full lifecycle service platform, enhancing the integration of energy systems while collaborating with various stakeholders to promote sustainable industrial growth.

Shanghai Electric Wind Power Group Co., Ltd. announced a milestone with the production of its first EW8.X-230 wind turbine generator at the Putian facility on June 10, 2022. This generator is tailored for medium-low wind speeds typical of China's coastal areas and aims to support the nation's targets for carbon peaking and neutrality. Key features include a design for cost-effective energy generation, carbon fiber blades, and advanced control systems. The EW8.X-230 can generate 28 million kWh annually, powering 14,500 households while significantly reducing coal consumption and CO2 emissions.

Shanghai Electric has released its 2022 Corporate Social Responsibility (CSR) Report, showcasing achievements in Environmental, Social, and Governance (ESG) for the fiscal year 2021. This report highlights their commitment to green transformation and technological innovation across energy sectors while adapting to global challenges like the pandemic. Key focuses include boosting low-carbon technologies, enhancing employee skills, and establishing a green supply chain. Shanghai Electric also emphasizes its plans for digital transformation to meet China’s carbon neutrality goals.

Shanghai Electric has made significant progress in international projects despite global challenges. The Rupsha 800-Megawatt combined cycle power plant in Bangladesh is advancing, having completed the hoisting of its first gas turbine, supporting local energy security. Meanwhile, the Yakai photovoltaic power plant in Japan is now operational, delivering over 20 megawatts of renewable energy. The UK’s REP 1&2 energy storage project, with a capacity of 100MW, marks Shanghai Electric's first international project as a main contractor, enhancing its global presence.

Shanghai Electric announced that Fuqing Nuclear Power Unit 6 achieved 168 hours of trial operation, ready for commercial use. This unit is part of the Hualong One project, showcasing China's advanced nuclear technology. The project boosts China's standing in nuclear power and supports their shift towards a leading global position in the sector. Moreover, the K-2 and K-3 units at Karachi Nuclear Power Plant highlight China-Pakistan cooperation in energy, contributing to a low-carbon economy and China's Belt and Road Initiative. Each Hualong One unit can generate 9 billion kWh, servicing 4 million households.

Shanghai Electric has partnered with the Confucius Institute at the University of Karachi to launch a Chinese language training program for personnel involved in the Thar Block-1 Integrated Coal Mine and Power Project. This initiative aims to enhance the skills of local workers and students, offering free language lessons and resources. Currently, 100 individuals are enrolled, highlighting the project's potential to improve career prospects in Pakistan's southern Sindh province. The program also seeks to strengthen cultural ties between China and Pakistan, facilitating better communication and job opportunities in ongoing China-Pakistan cooperation projects.

Shanghai Electric plays a vital role in supporting the Belt and Road Initiative by helping countries build low-carbon energy infrastructure while minimizing ecological impacts. The company is involved in constructing the world's largest solar thermal power project in the UAE, which includes a 950MW capacity at the Mohammed bin Rashid Al Maktoum Solar Park. This initiative aims to deliver clean energy to over 320,000 households and significantly reduce CO2 emissions. Shanghai Electric collaborates with local ecologists to ensure wildlife protection and resource conservation during the construction process.

Shanghai Electric showcased its innovative technologies during "Shanghai Electric Day" at Dubai Expo 2020 on December 1. The event highlighted advancements in new energy and intelligent equipment, reflecting the company's commitment to a greener future. Shanghai Electric plays a key role in the UAE's Clean Energy Strategy 2050, being the EPC contractor for the Mohammed bin Rashid Al Maktoum Solar Park, which includes a 700 MW CSP and 250 MW PV project. The solar project's completion is expected to provide green energy for over 320,000 households, cutting carbon emissions significantly.