Shanghai Electric (officially Shanghai Electric Group Company Limited) is a Chinese multinationalpower generation and electrical equipment manufacturing company headquartered in Shanghai.[1] The company traces its roots to 1880.
It is the world's largest manufacturer of steam turbines.[2]
History
Shanghai Electric has a long history and one of its subsidiaries was established before 1880. Shanghai Electric has achieved a number of breakthroughs since 1949, including the first 6,000 kW fossil-fueled power generating unit, the first cooling gas turbine generator in the world, the first ten-thousand water pressing machine in China, the first 300 MW nuclear power generating unit in China, the first large ship-use crankshaft in China, and the first 1,000 MW ultra super-critical fossil-fueled power generating units in China.
In October 2010, Shanghai Electric and Reliance Power of India signed a US$8.3 billion agreement for Shanghai Electric to supply 36 coal-fired thermal power generation units to Reliance over the subsequent three years.[3][4]
In April 2011 Shanghai Electric and Alstom agreed to combine their power plant boiler divisions into a new joint-venture company called Alstom-Shanghai Electric Boilers Co.[5] In June 2011, Shanghai Electric announced plans to invest RMB 1 billion in a joint venture with Shanghai Municipal Electric Power Company, with each to hold a 50% stake.[6]
In September 2011, Shanghai Electric signed a cooperation agreement with CESC to collaborate on the construction of coal-based power stations in India.[7]
Corporate affairs
Shanghai Electric has several A share listed subsidiaries, including Shanghai Mechanical & Electrical Industry co., Ltd., and has over 50 joint-ventures, including Shanghai Mitsubishi Elevator Co., Ltd., a joint venture with Mitsubishi Electric.[1]
Shanghai Electric has a strategy to assist in the improvement of China's overall competitiveness through the achievement of three major objectives: "core business concentration, self-mastered innovation and global resource consolidation". The company also intends to develop its "Shanghai Electric" brand into a universal brand.