- Shanghai Electric Unveils Dual Carbon Action Plan at Inaugural Shanghai Carbon Neutral Expo

The comprehensive action plan focuses on building capabilities that offer systematic solutions for application scenarios that contribute to a greener planet.

SHANGHAI, June 13, 2023/PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) recently unveiled its impressive dual carbon action plan at the Shanghai International Carbon Neutrality Expo on Technologies, Products and Achievements (Carbon Neutrality Expo), the first carbon neutrality themed expo in China. The plan presents comprehensive and innovative solutions for a new type of energy system, as well as three-dimensional solutions for zero-carbon industrial parks.

The action plan covers Shanghai Electric's systematic measures and strategic planning to optimize and improve its corporate structure in various carbon emission scopes, with the goal of achieving the company's double carbon targets based on its own operations. Ultimate targets include a 70 percent reduction in carbon dioxide emissions per unit of GDP by 2030 compared to 2020 levels, achieving carbon neutrality by reaching carbon emissions peaks, and achieving carbon neutrality by the complete value chain by 2055.

Shanghai Electric's action plan focuses on two main application scenarios: the "comprehensive" new power system solution and the zero-carbon "three-dimensional" industrial park solution. Through three major paths such as green process transformation, green energy substitution, and intelligent green supply chain management, as well as three paths of energy substitution, energy efficiency improvement, and resource circulation, Shanghai Electric aims to build and develop robust dual-carbon systems, carbon technology, industrial innovation, and industrial capital platforms. These efforts are aimed at accelerating the optimization and improvement of the industrial structure.

In the action plan, Shanghai Electric shared the following test cases of traditional low-carbon energy transformation and exploration of clean energy development and application:

Coal Power: Shanghai Electric has developed a system of coal-fired power generation products that has continuously broken world records for lowest coal consumption. In particular, the one million kilowatt ultrasupercritical secondary reheating unit at the Datang Dongying Power Plant has achieved an efficiency of 49.4 percent, reducing coal consumption to 248.86 g/kWh, setting new benchmarks. reference for the lowest coal consumption worldwide.

Pumped Storage: The fifth unit of the Changlongshan Pumped Storage Power Station, located in Anji County, Zhejiang Province, has been officially connected to the grid and put into commercial operation. This power plant has a nominal head of water of 710 meters and a reversible unit with a power of more than 300 MW, which makes it the first of its kind in the world.

Wind Power: Shanghai Electric dominates China's offshore wind power market for eight years and has achieved global recognition. The Company successfully completed the world's largest single-unit commercial wind power project and the project with the largest diameter wind turbine.

Solar Power: Shanghai Electric is capable of achieving 24-hour continuous power generation with 100 percent renewable energy. It has the world's largest single capacity of concentrated solar power (CSP) and photovoltaic (PV) installations. In particular, the 950 MW Dubai CSP project achieves an average electricity price of 7.3 US cents/kWh and reduces carbon dioxide emissions by 1.6 million tonnes per year.

Lithium-ion battery energy storage: Shanghai Electric has demonstrated comprehensive applications of lithium-ion batteries in various scenarios, including grid-side, user-side and power generation-side applications. The Company has pioneered the shared energy storage model on the grid side.

Liquid Flow Energy Storage: Shanghai Electric owns a series of cell, electrolyte, and system modules with modular design, manufacturing, and engineering capabilities. Its solutions have been exported to Europe, Japan and Australia, among other regions.

Hydrogen Power: Shanghai Electric covers the entire value chain in the field of hydrogen power, including hydrogen production, storage, fueling stations, and the design and production of gas turbines for hydrogen blending.

Centralized Digital Intelligence Platform: Shanghai Electric's SEUnicloud 2.0 Industrial Internet Platform enables digitalization and centralized control. It serves as the basis for centralized control at the station level, the construction of virtual power plants, and integration with renewable energy projects.

In addition, Shanghai Electric excels in the design, research and development, manufacturing and service of heavy-duty gas equipment, nuclear power equipment, integrated solutions in power transmission and distribution, and comprehensive solutions for intelligent and integrated systems.

Regarding zero carbon industrial park solutions, Shanghai Electric focuses on aspects such as green industrial plant design and construction, distributed renewable energy supply, digitized green smart production lines, control systems smart and industrial drive, commodities, smart building construction, smart operation and health management platforms for rail transit, seawater desalination and recycling transformation across the park.

Shanghai Electric will continue to take advantage of its comprehensive advantages in high-end equipment industries, and collaborate with institutions in the industrial chain to promote green transformation and upgrading. With a history of 120 years, Shanghai Electric plays a crucial role as the national pillar of the industry and aims to empower global industrial development through technology and innovation, contributing to a better life for mankind.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727, SSE:601727), a leading global provider of industrial-grade green smart system solutions with a global presence, is dedicated to smart energy, smart manufacturing and energy integration. digital technology. intelligence. With the focus on low-carbon development and digital transformation by opening up new scenarios and promoting new growth drivers, Shanghai Electric will strive to be a leader in pursuing maximum carbon dioxide emissions sooner. by 2030 and achieve carbon neutrality by 2060, new energy equipment production and localization of high-end equipment, utilizing the unlimited opportunities in an innovative industrial ecosystem together with global partners.

For more information, please visit https://www.shanghai-electric.com/group_en/.

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