On December 17, Shanghai Boiler Works Co., Ltd., a subsidiary of Shanghai Electric, officially launched its large-scale high-end equipment manufacturing site project in the Penglai Wind Power Industrial Park in Yantai City, Shandong Province. The groundbreaking ceremony was attended by Shen Jian, Member of the Standing Committee of the CPC Yantai Municipal Committee and Vice Mayor, along with Jin Xiaolong, Member of the CPC Committee and Vice President of Shanghai Electric. Together, they officiated the commencement of the project.
The project has a total investment of CNY 2 billion, with the initial phase allocated CNY 310 million. This phase will focus on the production of power plant boilers and systems, large high-end pressure vessels, and solutions for new energy. Upon reaching full operational capacity, the facility is expected to achieve an annual output of 13,400 tons, including FPSOs (Floating Production Storage and Offloading units), reactors, and CO? storage tanks, generating an estimated annual revenue of CNY 500 million. The launch of this project also establishes the Penglai Wind Power Industrial Park as Shandong Province’s first fully integrated offshore wind industrial hub. The park now covers a complete value chain, encompassing upstream research and testing, midstream manufacturing of critical components such as turbines, blades, towers, monopiles, and subsea cables, and downstream construction and operational services.
In his address, Mr. Jin expressed gratitude to the local government, project teams, and other stakeholders present for their support and contributions. He reaffirmed Shanghai Electric’s commitment to implementing the Framework Agreement on Deepening Shanghai-Shandong Cooperation, and highlighted the company’s dedication to aligning with Yantai’s broader economic and social development goals, fostering closer collaboration between Shanghai and Shandong, and playing a key role in Yantai’s green transition and sustainable, high-quality growth.
As part of the launch activities, Shanghai Boiler Works hosted a conference titled “Shanghai-Shandong Partnership for Green Transition and Sustainable Low-Carbon Growth”. The event brought together more than 100 representatives from Yantai’s government, Shanghai Electric subsidiaries, industry partners, and academic institutions. The attendees exchanged insights on cutting-edge green technologies and explored strategies to accelerate the transformation and upgrading of the high-end equipment manufacturing sector.
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