On November 8, at Hitachi Energy's booth at the Sixth China International Import Expo, Shanghai Electric and Hitachi Energy announced the establishment of a joint venture, Shanghai Electric Hitachi Energy Power Technology Co., Ltd., and held the inauguration ceremony. At the ceremony, the joint venture signed a cooperation agreement with Shanghai Electric Wind Power Group. Liu Ping, Deputy Secretary of the Party Committee and President of Shanghai Electric Group, and Zhang Jinquan, Global Executive Vice President and President of Greater China of Hitachi Energy, inaugurated the joint venture and delivered speeches.

The joint venture will focus on offshore wind power business, utilizing the advantages of the new-generation offshore wind power flexible DC transmission technology to provide system solutions with "intensive sea area, lightweight offshore platform design, and lower cost of operation and maintenance" for China's offshore wind power transmission, and to improve the life-cycle investment returns of offshore wind power projects.

Liu Ping said in his speech that as leading energy equipment companies, Shanghai Electric and Hitachi Energy are always committed to promoting the development and upgrading of clean energy systems. Offshore wind power is an important part of green energy transformation, and the flexible direct transmission technology guarantees smooth transmission of offshore wind power. It can tailor intensive sea area, lightweight offshore platform and lower cost of operation and maintenance for offshore wind power projects to help customers achieve a greater return on investment.

Zhang Jinquan said that with the mission of "building a clean energy system and sharing a low-carbon future", Hitachi Energy works with all partners to innovate and continuously promote a cleaner, more flexible and safer global energy system. The new joint venture will fully combine the technical and market advantages of both parties to realize mutual benefits and contribute to the high-quality development of China's offshore wind power transmission.

China is rich in offshore wind resources, with more than 18,000 kilometers of coastline and 3 million square kilometers of usable sea area. With the energy load centers in the east and south, the development and utilization of offshore wind power have become the important drivers for clean energy. With the gradual development of deep-sea offshore wind power, the transmission distance and capacity will continue to improve. Flexible DC transmission technology will provide important technical support for future transmission with the advantages of large transmission capacity, low energy consumption and low reactive power demand.

As the pioneer and leader of HVDC transmission technology in the world, Hitachi Energy boasts nearly 70 years of experience in the industry and has delivered more than half of the world's HVDC projects and more than 70% of the world's flexible DC (light HVDC) projects. It has world-leading technology, reliable system solutions and long-term engineering experience in the field of offshore wind power, especially in the field of large-capacity and long-distance offshore wind power transmission. Shanghai Electric is a world-leading provider of industrial-grade green and intelligent system solutions, with advantages in equipment manufacturing and new energy. Upholding the principle of openness, coordination and win-win cooperation, Shanghai Electric promotes worldwide innovation and eco-friendly sustainable development through partnerships with more than 70 of the world's most prestigious enterprises.

The existing joint venture of Shanghai Electric and Hitachi Energy has achieved outstanding results in the field of dry-type transformers. Taking the establishment of this joint venture as a new starting point, the two companies will complement each other and promote the efficient development and utilization of offshore wind power resources, contributing to the construction of a new power system dominated by new energy and accelerating the realization of China’s "dual-carbon" goal.