Shanghai Elec Group Co Ltd Stock Price, News & Analysis

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.

Shanghai Electric has partnered with the Confucius Institute at the University of Karachi to launch a Chinese language training program for personnel involved in the Thar Block-1 Integrated Coal Mine and Power Project. This initiative aims to enhance the skills of local workers and students, offering free language lessons and resources. Currently, 100 individuals are enrolled, highlighting the project's potential to improve career prospects in Pakistan's southern Sindh province. The program also seeks to strengthen cultural ties between China and Pakistan, facilitating better communication and job opportunities in ongoing China-Pakistan cooperation projects.

Shanghai Electric plays a vital role in supporting the Belt and Road Initiative by helping countries build low-carbon energy infrastructure while minimizing ecological impacts. The company is involved in constructing the world's largest solar thermal power project in the UAE, which includes a 950MW capacity at the Mohammed bin Rashid Al Maktoum Solar Park. This initiative aims to deliver clean energy to over 320,000 households and significantly reduce CO2 emissions. Shanghai Electric collaborates with local ecologists to ensure wildlife protection and resource conservation during the construction process.

Shanghai Electric showcased its innovative technologies during "Shanghai Electric Day" at Dubai Expo 2020 on December 1. The event highlighted advancements in new energy and intelligent equipment, reflecting the company's commitment to a greener future. Shanghai Electric plays a key role in the UAE's Clean Energy Strategy 2050, being the EPC contractor for the Mohammed bin Rashid Al Maktoum Solar Park, which includes a 700 MW CSP and 250 MW PV project. The solar project's completion is expected to provide green energy for over 320,000 households, cutting carbon emissions significantly.

Shanghai Electric has formed a strategic partnership with SKF at the China International Import Expo 2021. This collaboration aims to leverage Shanghai Electric's expertise in infrastructure and SKF's global supply chain to enhance R&D and competitiveness. During the event, Shanghai Electric secured over 10 procurement contracts worth more than 1.7 billion RMB, highlighting its commitment to expanding international trade. The partnership aligns with China's green initiatives, promoting innovative solutions in renewable energy.

Shanghai Electric has achieved a new record for metro train turnback time with the TSTCBTC®2.0 signaling system, reaching 86 seconds in a live demonstration conducted with Thales. This innovation enhances operational efficiency, allowing higher train frequency and increased safety. The TSTCBTC®2.0 system is China's first dual CBTC architecture, offering reduced life cycle costs and eliminating traditional backup systems, thus decreasing safety risks. Certified by leading organizations, it marks a significant milestone in urban rail transit technology.

Shanghai Electric will showcase innovations in smart energy and intelligent manufacturing at the China Pavilion during Expo 2020 Dubai starting October 1, 2021. As an official partner, the company aims to highlight China's achievements in energy, including the world's largest solar energy plant in Dubai. The exhibition emphasizes Shanghai Electric's commitment to low-carbon solutions and partnerships for sustainable development. Notably, the Dubai Concentrated Solar Power project will reduce 1.6 million tons of carbon emissions annually, benefiting over 270,000 residents.