Shanghai Electric Wind Power Group ("Shanghai Electric Wind Power" or "the 
Company") has been named as one of the top five wind turbine manufacturers in 
China, with its newly added offshore wind capacity overtaking all the other 
industry players in China in 2021, according to BloombergNEF's China's Top 10 
Wind Turbine Manufacturers in 2021 report.

The report, which ranks China's wind turbine manufacturers based on new 
turbines installed throughout 2021, shows that Shanghai Electric Wind Power 
took the number five spot by increasing its wind capacity by 5.18GW, securing 9 
percent of the market share in China. The Company retains the top spot in the 
offshore wind scene as the Company's newly installed offshore capacity grew by 
4.1GW over the year.

"In light of the lingering effects of the COVID-19 pandemic and fierce market 
competition triggered by the looming end to offshore wind subsidies, Shanghai 
Electric Wind Power overcame the challenges and broke multiple industry 
records, winning recognition from our partners for our exceptional installation 
efficiency, as well as product and service quality. These accolades from the 
industry have given us fresh impetus as we continue to reshape China's wind 
power sector in an effort to accelerate towards carbon peak and neutrality 
goals," Shanghai Electric wrote in a statement.

In 2021, China's newly installed wind capacity increased 55.8GW in total, a 
slight dip of 3% from 2020, passing the 50GW threshold for the second year in a 
row. It comes at a time when China's wind power sector is contending with 
market uncertainties posed by surges in global commodity prices as well supply 
chain disruptions. Last year saw commissioning rates offshore shooting up 351% 
by adding 14.2GW, while domestic onshore capacity dropped by 23% from its peak 
in 2020, to 41.6GW in 2021.

Established in 2006, Shanghai Electric Wind Power offers services including 
wind turbine manufacturing, wind farm operation and maintenance (O&M), wind 
resource assessment, digitized wind farm investment and development, wind farm 
asset management, smart energy and more. The Company's product portfolios 
feature wind turbines with capacity ranging from 1.25MW to 10MW.

The last decade and a half have seen the Company launch itself to become the 
largest offshore wind turbine manufacturer in China, cementing its leadership 
in the global new energy sector. In May 2021, Shanghai Electric Wind Power 
launched an initial public offering on the Shanghai Stock Exchange Science and 
Technology Innovation Board, through which the Company can further expand 
investment into the R&D of its core technology.

Last year, Shanghai Electric Wind Power also unveiled its Petrel platform 
SEW11.0-208 to the world. The flagship direct-drive turbine, which is the 
company's full proprietary intellectual property, features a nameplate capacity 
of 11 MW – the largest of its kind in Asia – marking a major breakthrough for 
China's homegrown innovation in offshore wind technology.

With the development of cutting-edge technology sitting at the forefront of its 
strategy, the Company seeks cooperation with top-tier wind power companies in 
the hope of jointly driving forward the global new energy sector. Now, the 
Company is expanding its upstream and downstream partnerships, with the 
business focus centered on digitized wind farm development and smart O&M, 
transforming itself into a full-cycle service provider. Aiming to become a 
world-class wind power company, Shanghai Electric Wind Power is ramping up its 
global presence, bringing its high-quality products and services to customers 
worldwide.


SOURCE: Shanghai Electric

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