Shanghai Electric Reveals Dual Carbon Action Plan at the Inaugural Carbon Neutrality Expo in Shanghai

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 inaugural Shanghai International Carbon Neutrality Expo in Technologies, Products and Achievements (Carbon Neutrality Expo), the first-ever carbon-neutral themed exhibition in China. The plan introduces groundbreaking and comprehensive solutions for a new type of power system, as well as three-dimensional zero-carbon industrial park solutions.

The action plan encompasses Shanghai Electric's systematic measures and strategic planning for optimizing and upgrading its corporate structure across various carbon emission scopes, with the aim of achieving the Company's dual carbon goals based on its own operations. The ultimate objectives include a 70 percent reduction in carbon dioxide emissions per unit of GDP by 2030 compared to 2020 levels, reaching carbon neutrality by achieving peak carbon emissions, and achieving full value chain carbon neutrality by 2055.

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

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

Coal Power - Shanghai Electric has developed a product system for coal-fired power generation that has continuously broken global records for the lowest coal consumption. Notably, the ultra-supercritical secondary reheating million-kilowatt unit at Datang Dongying Power Plant has reached an efficiency of 49.4 percent, reducing coal consumption to 248.86 g/kWh, setting new benchmarks for the lowest coal consumption globally.

Pumped Storage - The fifth unit of the Changlongshan Pumped Storage Power Station, located in Anji County, Zhejiang Province, was officially connected to the grid and put into commercial operation. This power station features a rated water head of 710 meters and a reversible unit with an output of over 300 MW, making 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 commercial single-unit capacity wind power project and the project with the largest wind turbine diameter.

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

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 possesses a series of stack, electrolyte, and system modules with modular design, manufacturing, and engineering delivery capabilities. Its solutions have been exported to Europe, Japan, and Australia, among other regions.

Hydrogen Energy - Shanghai Electric covers the entire value chain in the field of hydrogen energy, including hydrogen production, storage, refueling 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 foundation for station-level centralized control, virtual power plant construction, and integration with renewable energy projects.

Additionally, 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, digitalized green intelligent production lines, industrial drive and intelligent control systems, core products, smart building construction, intelligent operation and health management platforms for rail transit, seawater desalination, and park-wide recycling transformation.

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

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727, SSE:601727), a leading global supplier of industrial-grade eco-friendly smart system solutions with a presence around the world, is dedicated to smart energy, intelligent manufacturing, and the integration of digital intelligence. With the focus on low-carbon development and digital transformation by opening up new arenas and promoting new growth drivers, Shanghai Electric will strive to be a leader in the pursuit of to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, new energy equipment production, and high-end equipment localization, utilizing the boundless opportunities in an innovative industrial ecosystem along with global partners.

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

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