SHANGHAI, Jan. 31, 2024 -- Shanghai Electric ("the Company", SEHK:2727, SSE:601727) announced that Nency Solar Technology (Nantong) Co., Ltd. ("Nency Solar"), the solar arm of Shanghai Electric, has been granted the IEC 61215:2021 and IEC 61730:2023 certifications for its n-type dual-glass photovoltaic (PV) module. The certifications were awarded by the global testing, inspection, and certification body TÜV SÜD, following extensive assessments designed to test and verify the performance, safety, service life, and reliability of solar modules, during which the product scored exceptional results.

The new milestone, which reaffirms Shanghai Electric's prowess in solar technology, adds to the Company's credentials in terms of product quality and functionality as it continues to ramp up investment in R&D to boost its technological innovation and bolster its standing in the renewable energy industry, paving the way for the development of more efficient, reliable, and high-performance solar products that help the world accelerate towards a greener future.

Launched in 2023, Nency Solar's n-type dual-glass solar module is the first product made by the company in its latest drive to develop high-efficiency solar modules, marking a significant stride forward in its journey towards advancing solar technology. The module boasts a power output of up to 630W, an efficiency rate of 3%, and high bifaciality, with advantages including a low-temperature coefficient, low light-induced degradation (LID), and low potential-induced degradation (PID), improving its versatility and long service time, as well as durability in extreme weather conditions.

Marking a landmark achievement in Shanghai Electric's roadmap for new energy products, the release of the solar module underscores the Company's autonomy in PV production and development, a major step that fuels its drive towards green, low-carbon, and high-quality development and lays an important groundwork for its global expansion.

Nency Solar, a fully owned subsidiary of Shanghai Electric, was established in June 2023, following an agreement between Shanghai Electric and the Haimen District Government of Nantong City, allowing the Company to set up its solar production and R&D base in the city. The project ushered in a partnership between Nantong City and the company, aiming to explore new development models that accelerate the growth of the solar sector. With a goal to reach a 4.8GW production capacity for high-efficiency heterojunction (HJT) solar modules, the establishment of Nency Solar is poised to transform Nantong into a PV hub, which is instrumental in empowering the city to achieve industrial upgrades.

In August 2023, Nency Solar and TÜV SÜD embarked on a strategic partnership focused on PV innovation, covering projects including product testing, certification, knowledge services, and training. The pair will join hands to also explore carbon-neutral technologies and leverage their respective resources and expertise to collaborate on areas such as the industrial chain, standard systems, and the integration of industry and finance.

Together, the business alliance will enable them to develop industrial standards for N-type high-efficiency module technology that helps assess and verify the reliability of the modules in real-world environments. They will also undertake projects that evaluate the application and carbon emissions of N-type modules in outdoor solar power stations. Looking forward, Shanghai Electric aims to build upon its technical breakthroughs to catalyze its innovation in new energy products. Aiming to increase its global footprint by expanding partnerships within the energy sector, the Company is set to invest more resources to explore new technologies to help propel the sector's advancement, empowering countries worldwide to drive towards their carbon targets with its state-of-the-art solutions.

For more information, please visit https://www.shanghai-electric.com/group_en/.

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