On the afternoon of March 15, Leng Weiqing, Secretary of the Party Committee and Chairman of Shanghai Electric Group, met with Christian Bruch, President and CEO of Siemens Energy AG (hereinafter referred to as “Siemens Energy”). Both parties exchanged in-depth views on deepening cooperation in various sectors and jointly promoting green and low-carbon energy transformation in the new era.

Christian Bruch said that in the long-term cooperation between Shanghai Electric and Siemens Energy, both parties had scored great successes, especially in power station equipment, wind power and power transmission and distribution. In the future, Siemens Energy will be dedicated to energy transformation and new energy development, and achieve business decarbonization step by step. Siemens Energy has raised its proportion of non-carbon businesses to 60%, and, in the meantime, has been placing its emphasis on the development of gas-fired power generation, wind power, power transmission and distribution, energy storage, solar energy and hydrogen energy. The service sector in gas-fired power generation is still the primary business for value contribution in Siemens Energy. Gamesa Wind Power will be absorbed into Siemens Energy as a whole. Flexible transmission and energy storage technology will be combined to guarantee the safety of new energy. In the meantime, Siemens Energy will invest heavily in hydrogen energy in the future. Siemens Energy is willing to join hands with Shanghai Electric to constantly advance energy transformation and development, and create greater value for users.

According to Leng Weiqing, Shanghai Electric has made great strategic accomplishments in the 30-year extensive and in-depth partnership with Siemens Energy in energy equipment, building a model for Chinese enterprises to establish joint venture and cooperation with foreign enterprises. Based on the global consensus on carbon emissions and the carbon peaking and carbon neutrality goals of China, we shoulder the common responsibility and mission of green and low-carbon energy transformation, which shows huge market potential. In recent years, Shanghai Electric has given full play to the advantage of the combination of traditional and new energy, accelerated the research, development, promotion and application of such technologies as energy conservation and decarbonization, developed the integral energy solutions that utilize the complementary advantages among “wind-solar-hydroelectric-thermal-storage”, and actively built the “omni-directional” new power system. As Siemens Energy is a leader in green and low-carbon energy technology, both parties see huge potential for cooperation in facilitating the construction of the new energy system and exploring energy market in the future. Shanghai Electric hopes that both parties can leverage their own industrial advantages, technology advantages and market advantages, create the innovation ecosystem, develop more innovative and green energy solutions, cultivate more efficient and mutually beneficial business models, and thus build a safe, clean, efficient and sustainable modern energy system.

Tim Holt, member of Global Executive Committee of Siemens Energy, Yao Zhenguo, Global Senior Vice President of Siemens Energy, Jin Xiaolong, Member of the Party Committee and Vice President of Shanghai Electric, and relevant business heads of both parties were present at the meeting.