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-Shanghai Electric shares innovative green energy solutions at China Corner opening ceremony at COP28 to promote global sustainable development

DUBAI, UAE, Dec. 14, 2023/PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) participated in the opening ceremony of China Corner at the 28th Conference of the Parties to the United Nations Framework Convention on Change (COP28) held in Dubai, United Arab Emirates, from November 30 to December 12, 2023. The side event on ecological civilization and the practice of beautiful China held at the conference showed the world the leading role of the Company 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 time for global climate governance, Shanghai Electric continues to provide innovative green solutions for more power companies and industrial enterprises. We will continue to make great efforts to achieve cooperation mutually beneficial with partners so that we can all share together a new green future of sustainable development.

Shanghai Electric has remained true to its ESG commitments by promoting its 4 2 The key objective of the strategy is the reduction of industrial and energy carbon emissions, and the active construction of 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 new distributed energy supply that includes smart, green manufacturing lines that produce industry-driven improvements in energy efficiency. Shanghai Electric's major smart industrial 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, which aims to produce 75 percent of its energy needs from clean sources by 2050. One of these projects is the construction of a 700 MW Dubai concentrated solar power (CSP) plant and the engineering, procurement and construction (EPC) project of a 250 MW solar photovoltaic power station, Noor Energy 1, with joint investment from Saudi International Electricity and Water Company (ACWA Power), Silk Road Fund and Dubai Electricity and Water Authority.

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

In the future, Shanghai Electric will continue to develop high-quality, low-carbon, green 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 achieve a greener future for all.

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