Shanghai Electric in Hand Schneider Electric

Yesterday, Shanghai Electric and Schneider Electric signed a letter of intent for joint venture energy management contract to develop joint ventures and cooperation in energy efficiency of buildings. It is understood that the current joint venture and cooperation between the two companies are accelerating. Some administrative office buildings, large commercial buildings, and shopping malls in Shanghai have been listed on the list of energy-saving projects. The site has been assessed and researched, and energy-saving and efficiency-enhancing solutions have been designed.

According to the semi-annual report of Shanghai Electric, the company achieved revenue of 33.72 billion yuan, a year-on-year increase of 10.7%, and net profit of 1.637 billion yuan, a year-on-year increase of 15.3%. Among them, the revenue from the new energy and high-efficiency clean energy business accounted for more than half of the total revenue, totaling 18.62 billion yuan. The company has involved power generation equipment, gas turbines, waste heat boilers, elevators, air conditioners, and intelligent systems in energy-saving product technologies and applications.

Schneider Electric mainly provides integrated energy efficiency management solutions with products in more than 100 countries, with 2010 sales of 19.6 billion euros.