Shanghai Electric and Indonesian Partners Collaborate to Advance Green and Stable Power Infrastructure

JAKARTA,Indonesia,May 25,2023 -- Shanghai Electric's (SEHK: 2727,SSE:601727)CEO and Chairwoman,Ms. Leng Weiqing,as part of a high-level delegation of six major Shanghai enterprises led by the city mayor,Mr. Gong Zheng during Shanghai-Jakarta Overseas Investment Symposium,discussed and shared knowledge with local institutions regarding its operations of multiple power plants in Indonesia,including the Java 7 Coal Fired Power Plant,Chilaza Power Station,and Qingshan Industrial Park that have been contributing significantly to local and global energy security and stability while making massive gains in the push for green energy usage and sustainability.

"We are extremely proud of this recent collaboration with our Indonesian partners that helps to ensure energy stability,not to mention job opportunities and increased standards of living,for multiple communities all over Indonesia," said Leng. "Much of the equipment provided,operated,and maintained by Shanghai Electric that is in service in Indonesia is making positive contributions to local energy security while contributing to improvements in energy level and consumption as well as people's livelihoods."

Additionally,the Company's business development in multiple fields includes the operation and maintenance of three thermal power units in Weda Bay Industrial Park,Nanjing Iron and Steel Group's coke engineering project with its annual output of 2.6 million tons,as well as a joint venture with an automobile air-conditioning heat exchanger factory.

Shanghai Electric's innovative low-carbon energy and solutions projects are making massive contributions to local communities in Indonesia

Java 7 Coal Fired Power Plant is a 2100MW coal-fired power project located in Banten,Indonesia.Shanghai Electric commenced project construction in 2016 and subsequently entered commercial operation in December 2019. The Chilaza Power Plant,run and maintained by Shanghai Electric for its second phase,holds the top spot for power generation efficiency among coal-fired power plants on Java Island in Indonesia. This remarkable achievement solidifies its standing as the top private power plant in the country. Following its recent connection to the grid earlier this month,the facility has emerged as a robust cornerstone,providing an unwavering guarantee for the stability of the local power grid.Another majorproject,Qingshan Industrial Park,is the Company's first foray into the international large-scale coking market and is therefore of significant importance as it fully promotes Shanghai Electric's internationalization strategy.

Shanghai Electric's broad scope covers lithium battery production lines,auto parts,large aircraft production lines,elevators,and air-conditioning compressors. Shanghai Electric's laser focus on technological innovation and involvement in the production and operation of rail transit systems and other industrial equipment,as well as integrated services,empowers international market cooperation opportunities and the development of green and low-carbon industrial technology globally.

Shanghai Electric is actively expanding its engineering businesses outside of China. It has completed over 100 power engineering projects with a total contract value of over 250 billion yuan (US$ 35.76 billion),which accounts for one third of the company's power equipment sales overseas. The Company also acquired 100% equity in Nedschroef in the Netherlands,expanding into the high-end automotive fastener industry,and acquired 100% equity in Germany's Broetje Automation,expanding into the high-end aviation equipment manufacturing industry.

For more information about the symposium,please visit https://www.chinadailyhk.com/article/328064; or gain more information regarding Shanghai Electric and its business in the worldwide,please visit https://www.shanghai-electric.com/group_en/.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727,SSE:601727),a leading global supplier of industrial-grade eco-friendly smart system solutions with a presence around the world,is dedicated to smart energy,intelligent manufacturing,and the integration of digital intelligence. With the focus on low-carbon development and digital transformation by opening up new arenas and promoting new growth drivers,Shanghai Electric will strive to be a leader in the pursuit of to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060,new energy equipment production,and high-end equipment localization,utilizing the boundless opportunities in an innovative industrial ecosystem along with global partners.