Shanghai Electric reported orders for wind power equipment up over 505% in the first six months of 2020, compared with the same period last year.
The company, which signed a licensing agreement with Siemens Gamesa in 2018 to produce and sell the latter’s 8.0-167 DD turbine in China, said the increase was part due to technological breakthroughs in development and production of the model in the Chinese market.
Shanghai Electric also cited its plans for an initial public offering of its wind power business for the strong figures.
Equipment for storage, solar, wind and biomass accounted for 80% of the RMB47bn (€5.8bn) of new energy orders.
The remaining 20% was in traditional energy production from coal, gas and nuclear power.
Revenue at Shanghai Electric was up 0.5% or RMB280m.