Leading central and local enterprises join forces! Shanghai Electric signs strategic cooperation agreement with CHN Energy

According to an official announcement from Shanghai Electric, on May 12, Shanghai Electric Group and CHN Energy Investment Group Co., Ltd. (abbreviated as “CHN Energy”) held a high-level meeting in Beijing and officially signed a strategic cooperation framework agreement. The two leading enterprises in the energy sector will launch all-around, deep-level cooperation centering on three core areas: green and low-carbon energy transition, independent and controllable equipment, and collaborative technological innovation, joining hands to serve the national “Dual Carbon” strategy and the overall situation of energy security.

The signing ceremony was of a high standard with substantial consensus. Witnessed by Zou Lei, Secretary of the Party Committee and Chairman of CHN Energy; Feng Laifa, Deputy Secretary of the Party Committee and General Manager; Wu Lei, Secretary of the Party Committee and Chairman of Shanghai Electric Group; and Zhu Zhaokai, Deputy Secretary of the Party Committee and President, Liu Jingshan, Member of the Party Committee and Chief Accountant of CHN Energy, and Qiu Jiayou, Vice President of Shanghai Electric, signed the agreement on behalf of both parties. Heads of relevant departments and subordinate enterprises from both sides attended the ceremony together to witness this important moment of central-local collaborative development.

As benchmark enterprises in their respective fields, the two parties have a deep foundation for cooperation and significant complementary advantages. CHN Energy is a global leading comprehensive energy group, shouldering the core mission of safeguarding national energy security. It possesses a complete industrial layout covering coal, power, new energy, coal chemical industry, and other fields, along with massive project resources and rich application scenarios, playing a “stabilizer” role in energy supply and low-carbon transition. Shanghai Electric is a leading domestic high-end energy equipment manufacturing enterprise, having deeply cultivated the R&D, manufacturing, and integrated services of energy equipment for many years. It masters core technologies in nuclear power, heavy-duty gas turbines, wind power, energy storage, and other fields, possessing full industrial chain service capabilities. It has achieved outstanding results particularly in the localization of key equipment and tackling “chokepoint” technologies, providing solid equipment support for the independent and controllable development of the energy industry.

According to the agreement, both parties will focus on national energy strategic deployment, anchor the “Dual Carbon” goals, and use major projects under construction as cooperation handles to promote the implementation of multi-field collaboration:

· Green and Low-carbon Energy Transition Field: Jointly promote the upgrading of clean and efficient coal power, the integrated development of new energy and energy storage, and the layout of emerging energy industries such as hydrogen energy. Deepen the construction of new coal power units and the flexibility retrofit of existing units to assist in the construction of new power systems and energy systems.

· Independent and Controllable Equipment Field: Join hands to tackle key core technologies in the energy field, accelerate the iterative application of domestic high-end energy equipment such as nuclear power, heavy-duty gas turbines, and efficient energy storage, jointly build a security barrier for the energy industry chain and supply chain, and enhance the localization rate of key equipment.

· Collaborative Technological Innovation Field: Strengthen deep collaboration in strategic emerging industries such as artificial intelligence, modern coal chemical industry, and green hydrogen. Promote the tackling and demonstration application of key coal chemical technologies, build an integrated innovation platform for industry, academia, research, and application, and accelerate the transformation and implementation of scientific and technological achievements.

During the meeting, both parties unanimously agreed that China's energy industry is currently in a critical period of green and low-carbon transition. Ensuring energy security, promoting independent and controllable equipment, and accelerating technological innovation are core tasks for industry development. This strategic cooperation is an important measure for both parties based on national strategy and conforming to industry trends. It will fully leverage their respective resources, technologies, and industrial advantages to achieve a strong alliance and complementary strengths. This will not only promote the high-quality development of both parties' businesses but also inject strong momentum into the optimization of China's energy structure, energy security assurance, and the realization of the “Dual Carbon” goals, writing a new chapter of central-local enterprise collaborative development and sharing missions.

Previously, the two parties have carried out pragmatic cooperation in areas such as power equipment supply and new energy base construction. For instance, the coal power project of CHN Energy Gansu Company's Badain Jaran Desert New Energy Base adopted Shanghai Electric's steam turbine generator units, laying a solid foundation for this in-depth strategic cooperation. In the future, with the implementation of the agreement, both parties are expected to achieve breakthroughs in more major projects and key technology fields, leading the new direction of high-quality development in the energy industry.