Shanghai Electric Works with Partners to Ensure Progress of its International Projects

SHANGHAI,May 20,2022 -- Shanghai Electric ("Shanghai Electric" or "the Company") (601727.SS and 02727. HK) has announced that a series of milestones have been made for its major international projects since the start of this year. As a world's leading energy solutions provider,the company continues to ramp up its effort in accelerating the progress of its construction undertakings around the world amid global uncertainties brought on by renewed COVID-19 resurgences and prolonged supply chain disruptions.

Two of its landmark projects – the Rupsha 800-Megawatt combined cycle power plant project and the Japan Yakai photovoltaic power plant project – are well underway,with Shanghai Electric Guoxuan New Energy Technology Co.,Ltd (Electric Guoxuan),a subsidiary of Shanghai Electric Power Generation Group,having recently signed a contract with Pacific Green Technologies Group (PGTK) of REP 1&2 battery energy storage project in the UK during the online conference.

UK's REP 1&2 Energy Storage Project

Consisting of two sites with a total capacity of 100MW/100MWH,the UK's REP 1&2 energy storage project,located in the Ridgeborough Energy Park,Kent,is part of the exclusive agreement between PGTK and TUPA Energy Limited to develop up to 1,100MW of battery energy storage systems ("BESS") in the country.

It is the first time for Shanghai Electric Power Generation Group to participate in an international project as the main contractor,working in tandem with PGTK to pool the best of their expertise and resources to help the UK expedite energy transformation. The two parties have commenced the designing process,with the first batch of supplies expected to be delivered in the third quarter of 2022.

Bangladesh's Rupsha 800-Megawatt Combined Cycle Power Plant Project

Financed by the Asian Development Bank,the project features two one-on-one F-class combined-cycle gas turbines and it will be the largest gas turbine power station ever built in the country. Sitting in the Khulna Division,the second largest division of Bangladesh,the project aims to ease the strain on the power supply in the southwestern regions of the country as part of Bangladesh's national strategy to further strengthen its energy security,playing an essential role in boosting the national economy and providing more job opportunities for the local residents.

The construction of the project has recently made major progress after Shanghai Electric announced that the hoisting work of the No.1 gas turbine was completed,paving the way for the installation stage of its main equipment. The announcement came after the on-site construction operation was stalled by multiple challenges caused by the COVID-19 pandemic and the dry season that hindered the delivery of large-size construction materials. Facing difficulties and challenges,Shanghai Electric coordinated with all teams to ensure deliveries were made on time,significantly speeding up the overall progress.

Bangladesh’s Rupsha 800-Megawatt Combined Cycle Power Plant Project

Japan's Yakai Photovoltaic Power Plant Project

On April 14,the Yakai photovoltaic power plant in Japan was successfully connected to the power grid with the support of local subcontractors and power companies. The solar plant,the first of its kind developed by Shanghai Electric in the country,is now operating at full capacity to provide over 20-megawatts of renewable energy to local households and businesses.

The on-time completion of the project is the result of the joint efforts of Shanghai Electric's teams and its partners to mitigate the impact of Japan's seventh wave of COVID-19 outbreak and the magnitude-7.3 earthquake that struck Fukushima on March 16. Shanghai Electric also coordinated with the local government and power companies to enable the power plant to enter commercial operation ahead of schedule in compliance with local laws and regulations,allowing the owner to maximize returns on the project.

Japan’s Yakai Photovoltaic Power Plant Project