Shanghai Electric Expands Iraqi Power Plants, Boosting Capacity by 50%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Project Launch: Shanghai Electric has initiated the Eufrat combined cycle power plant expansion in four Iraqi provinces, aiming to add 625 megawatts of capacity and produce an additional 5 billion kilowatt-hours of electricity annually, significantly alleviating the country's chronic power shortages.
- Technological Innovation: By converting simple cycle units to combined cycle systems, the project is expected to enhance overall plant efficiency by approximately 50%, which not only boosts power generation capacity but also reduces reliance on imported natural gas and lowers electricity production costs.
- International Collaboration: The project is progressing smoothly due to close cooperation between Chinese and Iraqi teams, with major equipment already on-site, showcasing the critical role of Chinese technology in modernizing Iraq's power infrastructure.
- Strategic Importance: The Iraqi Minister of Electricity emphasized the project's significance in improving electricity supply and optimizing power infrastructure, which is expected to lay a solid energy foundation for national economic recovery and industrial development.
SE
$121.97+Infinity%1D
Analyst Views on SE
Wall Street analysts forecast SE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SE is 188.55 USD with a low forecast of 138.00 USD and a high forecast of 226.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
11 Buy
2 Hold
0 Sell
Strong Buy
Current: 120.460
Low
138.00
Averages
188.55
High
226.00
Current: 120.460
Low
138.00
Averages
188.55
High
226.00
About SE
Sea Limited is a consumer Internet company. The Company, through its subsidiaries, operates three core businesses of e-commerce, digital financial services, and digital entertainment, known as Shopee, SeaMoney and Garena. Its segments are e-commerce, digital financial services, and digital entertainment. The platform of Garena offers mobile and personal computer online games and develops mobile games for the global market. It offers e-sports and provides access to other entertainment content and social features, such as live-streaming of gameplay, user chat, and online forums. The platform of Shopee is a mobile-centric, social-focused marketplace. It provides users a shopping environment with integrated payment, logistics infrastructure, and seller services. SeaMoney provides digital financial services and products, including mobile wallet services, payment processing, credit, banking, and Insurtech. It operates in Indonesia, Taiwan, Thailand, Singapore, Malaysia, and the Philippines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
