DONG HA, Vietnam, Feb. 23, 2024 /PRNewswire/ -- Electric Wind Power ("the Company", SHA:688660), a subsidiary of Shanghai Electric (SEHK:2727, SSE:601727), also China's leading onshore wind power equipment manufacturer and one of China's largest offshore wind power equipment makers,  recently signed a deal to provide its advanced wind turbines to joint venture partners Hai Anh Wind Power Company, IPC Construction Joint Stock Company (IPC E&C), and Asia Industrial Technology Joint Stock Company (ACIT) for the Hai Anh Wind Farm Project in Quang Tri Province, Vietnam. The wind farm will cover an area of 855.25 hectares with an installed capacity of 40MW and will utilize eight of the Company's WH5.25-172 wind turbine units, bolstering the green energy transformation in Southeast Asia.

Electric Wind Power has a wealth of experience in international cooperation, brought its most advanced wind power technology and products, along with its most experienced team, to the Hai Anh Wind Farm Project. The Company's global green energy development strategy facilitates the transnational flow of clean and efficient energy while increasing the energy supplies of partnering countries. This optimizes the local energy consumption structure and drives green and low-carbon development around the globe.

The Hai Anh Wind Farm Project is the Company's first wind power project in Vietnam and is utilizing Electric Wind Power's WH5.25-172 wind turbine unit, which boasts the largest onshore wind turbine diameter in the Vietnamese market to date. With a hub center height of 125 meters, the project has the largest single machine capacity and the highest hub center height among all of the Company's international onshore projects. With the signing of this contract, Electric Wind Power continues its support for China's Belt and Road Initiative while actively promoting green development. Another model project that displays the Company's transnational energy is the construction of the Senj Wind Power Project in Croatia, the largest onshore wind power project in the Balkans.

Vietnam has experienced rapid economic development in recent years and has huge potential for future economic growth, which will drive high growth in electricity demand. According to Vietnam's latest national power plan, Vietnam will work to rapidly develop renewable energy to meet the increasing demand for electricity while gradually reducing the proportion of thermal power generation.

In recent years, coal power pollution has been a serious problem in some areas of Vietnam, so in order to stimulate a post-pandemic green economic recovery, the Vietnamese government has stated that it will give priority to the development of renewable energy. This means that renewable energy such as wind energy, which has abundant reserves in Vietnam, will receive further attention and share in the future and will grow significantly, creating huge potential in the green energy market.

The Hai Anh Wind Farm Project's foundation anchor components will be delivered at the end of March 2024, and the first batch of four of the Company's wind turbines will be delivered in early June 2024, with the second batch of four due to be delivered in mid-June 2024. The hoisting of the wind turbines will be completed by the end of August 2024 and is expected to be completed and connected to the grid prior to November 2024.

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 peak carbon dioxide emissions before 2030 and 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.

For more information about Electric Wind Power and Shanghai Electric, please visit https://www.shanghai-electric.com/group_en/.