OREANDA-NEWS. September 02, 2011. Shanghai Electric Group Company Limited (“Shanghai Electric” or the “Group”) and Schneider Electric China signed a letter of intent for joint venture on an energy management contract, writing a new chapter in the field of energy management contract and building energy saving, reported the press-centre of Shanghai Electric.
 
With over a decade of cooperation between Shanghai Electric and Schneider Electric China, this partnership in energy efficiency of green buildings is in line with the objective of energy saving and emission reduction across the globe. It is also a move in achieving the target of cutting carbon dioxide emissions per unit of gross domestic product by up to 40%-45% by 2020 from 2005.
 
At present, the two parties are speeding up to work on the establishment of the joint venture: Shanghai Electric and Schneider Electric China will integrate their respective advantages to groom the joint venture unit into the most professional integrated service company of building energy-saving in China in three to five years, and ultimately becomes a leading total solutions provider and equipment manufacturer in the energy-saving field. In the signing ceremony, Shanghai Electric also signed the letter of intent for ten energy-saving building demonstration projects, i.e.  main building of Municipal Office; Office Center in Pudong New District, Jinjiang Hotel, Yongan Company, Bureau of Quality Supervision of Changning District and Hepin Cinema etc., All these energy-saving projects will be undertaken by the new joint venture company.
 
Before the signing ceremony, Mr. Huang Dinan, President of Shanghai Electric had a discussion with Mr. Zhao Guohua, COO and President of Management Committee of Schneider Electric. After the signing ceremony, Mr. Yu Zhengsheng, member of the Political Bureau of the CPC Central Committee and Secretary of the Shanghai Municipal Party Committee, met President Zhao Guohua and his members of delegation.