Shanghai Electric (02727) saw its shares rise by 5.46% in early trading, reaching HK$4.25 with a turnover of HK$119 million.

According to an announcement, a consortium comprising Shanghai Electric Group Company Limited, Shanghai Electromechanical Engineering Design & Research Institute Co., Ltd., and Kazakhstan's GCD Partners LLP has secured an EPC contract for the 1 GW Mirny Wind Power Project in Kazakhstan. This marks a significant breakthrough for Shanghai Electric in the Central Asian energy market.

The project is Kazakhstan's largest wind power initiative to date. It is being developed by Aktas Energy, a joint venture formed by French energy giant TotalEnergies, Kazakhstan's Samruk-Energy, and the national oil and gas company KazMunayGas. The project adopts a "China-France-Kazakhstan" tripartite cooperation model to ensure its successful implementation.

Scheduled to commence construction in 2026, the project will integrate large-scale wind power generation with battery storage systems, significantly enhancing Kazakhstan's grid stability while optimizing its energy mix and reducing reliance on fossil fuels.