Shanghai Electric Accelerates Overseas Layout, Seeks Overseas Partners

ABU DHABI, United Arab Emirates, Sept. 18, 2019 /PRNewswire/ -- Shanghai Electric Group (the "Group"), a leading energy equipment maker and solutions provider, showcased its various solutions and equipment at the 24th World Energy Congress (WEC) that took place in Abu Dhabi through Sept. 9-12. The Group has long operated overseas and has established projects, especially with partners in the Middle East in various fields including solar power, gas power, desalination and energy management.

In a bid to provide cleaner and smarter solutions, Shanghai Electric has developed more advanced products and has brought to the WEC more comprehensive and inter-connected solutions with services of a full life cycle, to better serve its clients globally. From rolling out individual products to offering more comprehensive and integrated solutions, the Group has been actively seeking a positive transformation in its strategic planning and its position in the industry based on the trend of market development and industry demand.

On the business side, Shanghai Electric has shed light on overseas markets. In 2018, the Group even saw the number of new construction orders in foreign markets surpassing those in the domestic market, underlining the Group's efforts to bring its solutions abroad in line with China's Belt and Road Initiative. The Group in 2018 has undertaken several landmark overseas projects, including the solar power station construction project in Dubai, the coal-fired power project in Egypt, the combined-cycle power project in Panama, and the desalination project in Brunei, among others.

The power plant under construction by Shanghai Electric in Sheikh Mohammed bin Rashid al-Maktoum Solar Park, Dubai, currently the largest solar power plant in the world, can provide clean electricity for over 320,000 households every year in Dubai, cutting down carbon emissions by 1.6 million tons.

China's President Xi Jinping also said in July during his visit to the UAE that China is pushing ahead a strategic plan driven by innovation, and as the UAE looks to boost its energy industry further, the two countries shall seek for tighter cooperation to strive for breakthroughs in advanced technology.

This year, Shanghai Electric has offered solar power solutions in more countries. It constructed a solar power station in Hokkaido, Japan, and started generating power in February. The Group has also had multiple ongoing energy projects in the UK and Australia.

"We highly value our overseas business, and our goal is to increase the proportion of our overseas assets and double the revenue in the next three to five years," said Zheng Jianhua, Chairman of Shanghai Electric.

About Shanghai Electric

Shanghai Electric is a large integrated equipment manufacturing enterprise specialized in energy equipment, industrial equipment and integration services. It is committed to providing customers with solutions to technology integration and systems incorporating green, eco-friendliness, intelligence and Internet.