PR95774

SHANGHAI, Apr. 30, 2022 /PRNewswire=KYODO JBN/--

Shanghai Electric Wind Power Group ("Shanghai Electric Wind Power" or "the

Company") has been named as one of the top five wind turbine manufacturers in

China, with its newly added offshore wind capacity overtaking all the other

industry players in China in 2021, according to BloombergNEF's China's Top 10

Wind Turbine Manufacturers in 2021 report.

The report, which ranks China's wind turbine manufacturers based on new

turbines installed throughout 2021, shows that Shanghai Electric Wind Power

took the number five spot by increasing its wind capacity by 5.18GW, securing 9

percent of the market share in China. The Company retains the top spot in the

offshore wind scene as the Company's newly installed offshore capacity grew by

4.1GW over the year.

"In light of the lingering effects of the COVID-19 pandemic and fierce market

competition triggered by the looming end to offshore wind subsidies, Shanghai

Electric Wind Power overcame the challenges and broke multiple industry

records, winning recognition from our partners for our exceptional installation

efficiency, as well as product and service quality. These accolades from the

industry have given us fresh impetus as we continue to reshape China's wind

power sector in an effort to accelerate towards carbon peak and neutrality

goals," Shanghai Electric wrote in a statement.

In 2021, China's newly installed wind capacity increased 55.8GW in total, a

slight dip of 3% from 2020, passing the 50GW threshold for the second year in a

row. It comes at a time when China's wind power sector is contending with

market uncertainties posed by surges in global commodity prices as well supply

chain disruptions. Last year saw commissioning rates offshore shooting up 351%

by adding 14.2GW, while domestic onshore capacity dropped by 23% from its peak

in 2020, to 41.6GW in 2021.

Established in 2006, Shanghai Electric Wind Power offers services including

wind turbine manufacturing, wind farm operation and maintenance (O&M), wind

resource assessment, digitized wind farm investment and development, wind farm

asset management, smart energy and more. The Company's product portfolios

feature wind turbines with capacity ranging from 1.25MW to 10MW.

The last decade and a half have seen the Company launch itself to become the

largest offshore wind turbine manufacturer in China, cementing its leadership

in the global new energy sector. In May 2021, Shanghai Electric Wind Power

launched an initial public offering on the Shanghai Stock Exchange Science and

Technology Innovation Board, through which the Company can further expand

investment into the R&D of its core technology.

Last year, Shanghai Electric Wind Power also unveiled its Petrel platform

SEW11.0-208 to the world. The flagship direct-drive turbine, which is the

company's full proprietary intellectual property, features a nameplate capacity

of 11 MW – the largest of its kind in Asia – marking a major breakthrough for

China's homegrown innovation in offshore wind technology.

With the development of cutting-edge technology sitting at the forefront of its

strategy, the Company seeks cooperation with top-tier wind power companies in

the hope of jointly driving forward the global new energy sector. Now, the

Company is expanding its upstream and downstream partnerships, with the

business focus centered on digitized wind farm development and smart O&M,

transforming itself into a full-cycle service provider. Aiming to become a

world-class wind power company, Shanghai Electric Wind Power is ramping up its

global presence, bringing its high-quality products and services to customers

worldwide.

SOURCE: Shanghai Electric

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