Shanghai Electric Shares Innovative Green Energy Solutions at Opening Ceremony of China Corner at COP28 to Promote Global Sustainable Development

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Shanghai Electric (SEHK:2727, SSE:601727) showcased its innovative green energy solutions at the opening ceremony of the China Corner at COP28, emphasizing its commitment to global sustainable development and climate governance. The company's 4+2+X development strategy focuses on reducing carbon emissions and building zero-carbon industrial parks, with key smart industry solutions launched this year to support its ESG commitments. Shanghai Electric has undertaken key projects to support Dubai's Clean Energy Strategy, including the construction of the world's largest single-site concentrated solar power plant, Noor Energy 1, which will provide green energy for 320,000 households and reduce carbon emissions by 1.6 million tons annually.

Positive

• Shanghai Electric showcased its leadership role in global climate governance and sustainability at COP28.
• The company's 4+2+X development strategy focuses on reducing carbon emissions and building zero-carbon industrial parks.
• Shanghai Electric undertook key projects to support Dubai's Clean Energy Strategy, including the construction of the world's largest single-site concentrated solar power plant, Noor Energy 1.

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• None.

DUBAI, UAE, Dec. 14, 2023 /PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) participated in the opening ceremony of the China Corner at the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) held in Dubai, United Arab Emirates, from November 30 to December 12, 2023. The Ecological Civilization and Beautiful China Practice side event held at the conference showcased to the world the Company's leadership role in global climate governance and sustainability.

Qiu Minghua, Deputy General Manager of Shanghai Electric Power Plant Engineering Company, said at the event: "At this crucial moment for global climate governance, Shanghai Electric continues to provide innovative green solutions for more energy companies and industrial enterprises. We will continue to push hard to achieve mutually beneficial cooperation with partners so we can all share a new green future of sustainable development together."

Shanghai Electric has been staying true to its ESG commitments with the promotion of its 4+2+X development strategy that focuses on emerging fields supported by advanced technologies with a strong focus on wind-solar-hydrogen-storage integration. The key goal of the strategy is energy and industrial carbon emissions reduction, and actively building its three-dimensional zero-carbon industrial park solution that provides industrial parks with everything from the design and construction of green industrial plants with a distributed new energy supply that features green smart manufacturing lines producing industrial-driven energy efficiency improvements. Shanghai Electric's key smart industry solutions launched this year include its Integrated Wind, Solar, Storage and Distribution Solution and Energy Carbon Smart Butler which are key pillars in the Company's ESG commitments.

Shanghai Electric has undertaken and participated in the construction of several key projects in support of Dubai's Clean Energy Strategy that aims to produce 75 per cent of its energy requirements from clean sources by 2050. One of these projects is the construction of Dubai's 700MW concentrated solar power (CSP) and 250MW photovoltaic solar power station engineering, procurement and construction (EPC) project, Noor Energy 1, co-invested by the Saudi International Electricity and Water Company (ACWA Power), the Silk Road Fund, and the Dubai Electricity and Water Authority.

Noor Energy 1, the largest single-site concentrated solar power plant in the world, located in Phase 4 of the Mohammed bin Rashid Al Maktoum Solar Park, adopts an advanced tower solar thermal and trough solar thermal technology combination, which set a new global benchmark as the world's tallest concentrated solar power (CSP) tower and largest thermal energy storage capacity. Upon completion, the project will provide green energy for 320,000 households and reduce carbon emissions by 1.6 million tons annually.

Moving forward, Shanghai Electric will continue the development of high-quality, green, and low-carbon energy equipment while undertaking more global energy projects that will encourage more global partners to join sustainable development efforts, promote global climate governance, and collaborate to realize a greener future for all.

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SOURCE Shanghai Electric

FAQ

What is the ticker symbol of Shanghai Electric?

The ticker symbols for Shanghai Electric are SEHK:2727 and SSE:601727.

What is the 4+2+X development strategy of Shanghai Electric?

Shanghai Electric's 4+2+X development strategy focuses on reducing carbon emissions and building zero-carbon industrial parks.

What key projects has Shanghai Electric undertaken to support Dubai's Clean Energy Strategy?

Shanghai Electric has undertaken the construction of the world's largest single-site concentrated solar power plant, Noor Energy 1, to support Dubai's Clean Energy Strategy.