The Energy Integration for Intelligent Future business summit forum, hosted by 
Shanghai Electric Group Company Limited (Shanghai Electric) as part of its 
120th-anniversary celebration, concluded successfully in Shanghai on September 
26, 2022. 

At this critical, historical moment for the firm, and in response to the global 
urgency for reducing carbon emissions, Shanghai Electric is transitioning all 
segments of its business to a low-carbon format. This is achieved by enhancing 
the capacity of new power systems and equipment, and by developing an optimal 
combination of traditional and renewable energy sources in a move to support 
the development of a modern energy ecosystem. 

Liu Ping, the Director and President of Shanghai Electric Group Co., said at 
the forum that over the past 120 years, the firm has embarked on an innovative 
journey of empowering the world through efforts to expand its main businesses 
in pursuit of win-win cooperation and integrated development. 

"Throughout this journey, Shanghai Electric has evolved into a prime example of 
what can be done to pave the way for China to become a key provider of high-end 
equipment to the world. The evolution allowed the company to transition from 
being a major player in its space to one which represents in-country peers as 
they collectively seek to export world-class equipment and technologies," said 
Liu Ping. 

Shanghai Electric has accomplished many record-breaking achievements both at 
home and abroad. Based on existing capabilities and strengths, the company 
expects to give full play to its three core competitive advantages - extreme 
manufacturing, integrated services and talent competitiveness - to build three 
industry-leading linked platforms covering core equipment, integrated systems 
and industrial capital, setting in motion what is well on track to becoming the 
leading development trend for the next 120 years.

Shanghai Electric is currently one of the few producers worldwide covering all 
categories of energy equipment. The energy sector produces more than 80% of 
China's total carbon emissions, making it the largest barrier to China 
achieving the goal of carbon peaking and carbon neutral. 

Since 2021, with the high frequency of extreme weather events, coupled with the 
intensification of tensions around the global energy supply, many regions 
throughout the country experienced power shortages, highlighting the increasing 
importance of thermal ballast. In the throes of a massive transition from 
stable fossil fuels to volatile alternative energies, a consensus among 
participants is that, in order to achieve the goal of carbon reduction under 
the premise of ensuring energy security, multi-energy complementarity will be 
the best solution for the integrated development of traditional and renewable 
energy sources over the long term.

Chen Ganjin, member of the Party Committee and vice president of Shanghai 
Electric, noted that China's energy structure has been undergoing a major 
change over the last decade, with the proportion of installed solar and wind 
power capacity having increased significantly, while the share of coal power 
has declined to half of the total, and nuclear power having returned to 
becoming a steadily growing viable alternative. The booming of renewable energy 
sources pushed power storage into a period of rapid development. However, due 
to the randomness and intermittency, the large-scale, high-ratio grid 
connection of renewable energies will pose serious challenges to the safe and 
stable operation of the grid.

When elaborating on the Chinese energy ecosystem landscape, Chen added that the 
per capita power consumption in China is relatively low when compared to other 
countries and regions across the world, demonstrating a huge potential for 
growth in power and related equipment markets. Shanghai Electric is committed 
to helping address the needs of the Chinese energy ecosystem in terms of power 
generation, transmission, storage and sale. 

The group is optimizing its efforts in furthering the growth of conventional 
and alternative energy-powered equipment as the country continues to pursue the 
goals of carbon peak and carbon neutrality. Shanghai Electric has proven 
technical capabilities in the realms of clean and efficient coal power, safe 
and state-of-the-art nuclear power, as well as efficient and flexible 
regulation of gas and power. In addition, the group is leveraging technological 
innovations to enhance its portfolio of wind, solar, storage and hydrogen 
energy-powered equipment and storage solutions, while accelerating the 
transformation  and exploring of additional application scenarios for its 
robust smart grid equipment.

Based on its existing competitive power equipment, Shanghai Electric has made 
significant progress in implementing new system solutions for coal-fired power 
and energy storage integration; source-grid-load-storage integration; and green 
hydrogen and chemicals integration. Furthermore, with the ongoing energy 
transformation, the group is embracing new opportunities in the energy storage 
sector with its vanadium batteries known for a high level of safety, 
high-capacity scalability, and long cycle life.

In line with the goals of carbon peak and carbon neutrality, Shanghai Electric 
is making efforts to establish a presence in what is being termed as "4+2+X" 
(where "4" refers to wind power, solar power, energy storage and hydrogen; "2" 
refers to intelligent industrial equipment and high-end medical equipment; and 
"X" refers to new opportunities in the energy sector) with a focus on 
supporting the carbon emission reduction in energy and industry in concert with 
the aim of creating a comprehensive new power system and an integrated solution 
for green and low-carbon industrial parks. 

By capitalizing on its proven capabilities in conventional energy-powered 
equipment, Shanghai Electric plans to further its investments in innovative 
equipment and technologies involving wind, solar, hydroelectric and thermal 
energy and energy storage, as well as power supply, grid, load and hydrogen 
storage to become the frontrunner in the journey towards achieving the goals of 
carbon peak and carbon neutrality, along with creating alternative 
energy-powered equipment and automated high-end equipment.

SOURCE  Shanghai Electric

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