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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 announced the opening of commercial operations for Block B at the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, completing it 17 days ahead of schedule. The project faced challenges due to the pandemic, including delays in raw material shipments and labor issues, but a dedicated crisis team helped bring the project back on track. Each block has a capacity of 300 MW, with Block A operational since July 2021. Preparations for Block C are ongoing, ensuring continued progress in the solar park's development.
Shanghai Electric has ascended to 40th place on the 2022 Top 250 International Contractors list by Engineering News-Record, up from 51st in 2021. This ranking reflects revenue generated from major projects including a photovoltaic-thermal facility in Dubai and a coal mine in Pakistan. Despite challenges from the COVID-19 pandemic, the company maintained growth and contributed to an improvement in international turnover. In total, 79 mainland Chinese companies made the list, showcasing China's dominance in the global construction market.
Shanghai Electric has announced that Phase B of the 900-MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park is now operational. The project aims to generate 2.268 billion kWh annually, powering over 240,000 homes and reducing carbon emissions by 1.1 million tonnes each year. Despite challenges, including pandemic-related supply chain issues, the project's team successfully managed costs and construction logistics, adding $3 million in extra costs due to site elevation changes. The entire project is part of Dubai's renewable energy vision, creating significant job opportunities.
Shanghai Electric reiterated its dedication to fostering Sino-Pakistani relations on August 1, 2022, coinciding with International Friendship Day. Following a devastating fire in Varwai village, the company activated its emergency response, mobilizing resources to aid 38 families and preserve 86 houses. The firm has also implemented educational and training programs for local employees, enhancing skills and promoting cultural exchange. Through these initiatives, Shanghai Electric aims to strengthen community ties and support local development.
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.
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