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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Shanghai Electric Group Company Limited    601727   CNE100000D55

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Shanghai Electric : DEWA inks EPC with Shanghai Electric for Rashid Al Maktoum park

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04/18/2018 | 10:25am CEST

The Dubai Electricity and Water Authority (DEWA) has signed an engineering, procurement and construction (EPC) contract with the Saudi Arabian company ACWA Power and the Chinese company Shanghai Electric for the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park (CSP). The

AED14.2bn (US$3.9bn) fourth phase will consist of a 600 MW parabolic basin complex and a 100 MW solar tower, which will be commissioned starting from the end of 2020.

The Mohammed bin Rashid Al Maktoum Solar Park is a giant solar project worth US$13.6bn. It is scheduled to generate 1,000 MW by 2020 and 5,000 MW by 2030. The first 13 MW phase (PV) came onstream in 2013, followed by the 200 MW second phase (PV) of the solar park in March 2017. The 800 MW third phase (PV) is set to become operational by 2020, along with the fourth stage of 700 MW.

The project fits into the framework of the Dubai Clean Energy Strategy 2050, which intends increase the share of renewable energies in Dubais total power output up to 7% by 2020, 25% by 2030, and 75% by 2050.

(c) Publishing Rights Reserved to Bahrain News Agency 2003 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( CNY)
Sales 2018 84 543 M
EBIT 2018 4 608 M
Net income 2018 2 185 M
Finance 2018 28 779 M
Yield 2018 0,69%
P/E ratio 2018 36,51
P/E ratio 2019 35,54
EV / Sales 2018 0,53x
EV / Sales 2019 0,51x
Capitalization 73 973 M
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Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 4,21  CNY
Spread / Average Target -27%
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Managers
NameTitle
Jian Hua Zheng Chairman & Chief Executive Officer
Jian Hua Dong Chairman-Supervisory Board
Kang Hu Chief Financial Officer
Ke Lin Zhu Vice Chairman
Min Fang Yao Non-Executive Director
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