Both domestically and internationally, Shanghai Electric has set numerous records.
On September 26, 2022, Shanghai Electric Group Company Limited (Shanghai Electric), as part of its 120th-anniversary celebration, successfully wrapped off the Energy Integration for Intelligent Future business summit conference.
Shanghai Electric Group Co.’s Director and President, Liu Ping, stated at the forum that during the past 120 years, the company has started on an unprecedented path to empower the world by working to enhance its primary businesses in an effort to achieve win-win collaboration and integrated development.
Shanghai Electric is changing the structure of every aspect of its operations to one that is low in carbon emissions at this pivotal historical juncture for the company. In order to promote the development of a contemporary energy ecosystem, this is accomplished by increasing the capacity of new power systems and equipment as well as by creating the best possible mix of conventional and renewable energy sources.
The company anticipates leveraging its three fundamental competitive advantages—extreme manufacturing, integrated services, and talent competitiveness—to the fullest extent possible in order to construct three industry-leading linked platforms for core equipment, integrated systems, and industrial capital. By doing so, it will launch what is on track to become the dominant development trend for the ensuing 120 years.
Currently, Shanghai Electric is one of the few manufacturers in the world that produces all types of energy equipment. The main obstacle to China meeting its objective of carbon peaking and carbon neutrality is the energy sector, which generates more than 80% of the country’s total carbon emissions.
Many sections of the country have experienced power outages since 2021 as a result of the growing frequency of catastrophic weather events and the escalating tensions around the world’s energy supply, underscoring the rising significance of thermal ballast. Participants agree that multi-energy complementarity will be the best option for the integrated development of conventional and renewable energy sources over the long term as we face a massive transition from stable fossil fuels to volatile alternative energies in order to achieve the goal of carbon reduction under the premise of ensuring energy security.
China’s energy system has seen a substantial transformation over the past ten years, according to Chen Ganjin, a member of the Party Committee and vice president of Shanghai Electric. The proportion of installed solar and wind power capacity has climbed significantly, while the share of coal power has decreased to 50% of the total and nuclear power has returned to being a gradually rising viable alternative.
In addition, Chen noted that China’s per capita power consumption is very low when compared to other nations and areas throughout the world, indicating a significant opportunity for growth in the market for electricity and related equipment. Shanghai Electric is dedicated to assisting with the generation, transmission, storage, and sale of power in order to meet the needs of the Chinese energy environment.
As the nation continues to work toward the targets of carbon peak and carbon neutrality, the group is maximizing its efforts to promote the expansion of conventional and renewable energy-powered equipment.
Shanghai Electric intends to increase its investments in innovative equipment and technologies by building on its established expertise in conventional energy-powered equipment. This will help it become a leader in the race to achieve the goals of carbon peak and carbon neutrality as well as the development of automated high-end equipment and alternative energy-powered equipment.
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