GE Releases First Energy Transition White Paper for China - Technological Innovation is the Key to Solving the Dilemma of Energy Transition

• China has the most ambitious energy transition goals in the world and is currently in a critical window of transition. Technological innovation is the key to solving the transformation dilemma;
• Based on energy supply stability and consumption economy, GE continues to introduce and develop the most suitable energy solutions for China, and invest in upgrading local supply chain capabilities to support China's construction of a new power system;
• GE is committed to building a more sustainable future aviation, working with partners to provide China's civil aviation industry with technical equipment that takes both convenient travel and green and low carbon into account.

April 22, 2022 -- On the 53rd "Earth Day", GE released the "GE China Energy Transition White Paper", which aims to explore the implications of China's "dual-carbon" goal in the context of global and China's energy transition. Realize the path and the active role of the enterprise in it. The white paper analyzes the current situation of China's energy transition in detail, shares GE's technological innovation and application prospects in related fields, and the implementation of a series of energy transition projects in China.

The white paper points out that the energy transition needs to be carried out in a gradual and holistic manner, taking into account multiple factors such as resource endowment, energy security and long-term emission reduction. GE believes that, on the premise of ensuring energy stability and even increasing supply, gradually transforming China's coal-dominated energy structure and improving the utilization rate of clean energy are the footholds to achieve the "dual carbon" goal; The continuous increase in the proportion of consumption and the clean transformation of the power system are the core tools for China to achieve the "dual carbon" goal. The white paper further pointed out that China's offshore wind power will usher in a period of rapid development relying on technological progress. Therefore, the construction of the offshore wind power ecosystem is being regarded as a key project of energy transformation by more and more coastal provinces and cities.

The white paper emphasizes that renewable energy will be the main energy supply form of the new power system, which will bring new challenges to the "guaranteed and stable supply" of energy. Therefore, regulated power sources such as natural gas power generation and pumped hydro storage, which are characterized by flexibility, cleanliness and high efficiency, will be the "ballast stone" for the stable operation of the power system. Among them, flexible, clean and stable gas-fired power generation, especially hydrogen-fired units, will play an important clean and low-carbon alternative power source in the process of orderly withdrawal of coal-fired power. At the same time, pumped storage, as the most mature technology, the most economical, and the most large-scale development condition for peak shaving power in China, will usher in a golden period of development in the next decade.

In addition, carbon reduction in the transportation sector is another topic the white paper focuses on. Currently, the transportation sector accounts for 8% of China's carbon dioxide sources, ranking third after the power sector and industry. The white paper pointed out that in the future, the construction of a convenient and low-carbon transportation system will be the only yardstick to measure whether the construction of aviation, railways and highways is in line with economic and social development.

Xiang Weiming, Global Vice President of GE and President of GE China, said: "China's high-coal energy structure, urbanization development and short transition period make the task of energy transition both economical and stable. GE believes that innovation always It is the driving force and the DNA of GE. Upholding its firm commitment to carbon neutrality and the Chinese market, GE will continue to introduce and develop the most suitable industry solutions for China, improve the energy efficiency of the entire industry chain, and work with partners to provide China's low-carbon future is in full swing."

Investment and commitment to sustainable development are deeply embedded in GE's day-to-day operations. In 2020, GE proposed the "3050 Sustainable Development Goals", which is a commitment to achieve carbon neutrality in GE's global operations by 2030, and achieve net zero emissions of greenhouse gases under Scope 3 conditions by 2050. Adhering to this goal, GE takes technology introduction and strengthening the local supply chain as the starting point in China, and promotes the complementary development of offshore wind power, gas power, pumped storage and other regulated power sources, and continues to achieve more efficient, cleaner and more advanced for China. Power production provides industry-leading solutions.

- In March this year, the first batch of locally assembled and produced Haliade-X 13MW offshore wind turbines, GE's largest so far, was shipped in Jieyang, Guangdong, to supply the Dogger Bank offshore wind farm in the UK. This marks the production base's role as the pivot of the South China offshore wind ecosystem and an important supply chain for GE's global offshore wind power supply chain;
- In terms of regulated energy, the first GE 9HA.01 gas-fired power plant in China, Tianjin Huadian Junliangcheng Power Plant in China, has been operating stably since it was put into operation, with a combined cycle efficiency of 63.36%, which is the HA-class gas turbine unit currently put into operation in China It has the highest efficiency in the middle and reduces carbon dioxide emissions by 1.8 million tons per year. China's first natural gas-hydrogen dual-fuel 9HA power plant will be launched in 2023 at the Huizhou Daya Bay Petrochemical District Comprehensive Energy Station under Guangdong Energy Group. The two units of the power station will use the 9HA.01 heavy-duty gas turbine manufactured by the joint venture company of GE and HEC to realize the mixing ratio of 10% hydrogen and natural gas. The proportion of hydrogen-fueled combustion of GE HA-class gas turbines is expected to reach 100% by 2030;
- In the field of hydropower, based on long-term large-scale water conservancy projects and 50 years of experience in pumped-storage hydropower generation projects, GE Hydro has developed variable-frequency power plants with higher water resource utilization, flexibility and grid balancing capabilities in recent years. Speed ​​pumped storage unit, and the first project was put into operation in Switzerland in 2018;
- GE's grid solutions focus on the efficiency and stability of energy transmission to cope with the transmission loss of more wind turbines and pumped storage projects integrated into the grid;
- In the field of aviation, GE's definition of future aviation is not only faster, smarter and safer, but also promotes cleaner, greener and more sustainable flight. Last year, CFM International, a joint venture between GE and Safran International, launched the "RISE Sustainable Engine Advanced Technology Verification Project", which is expected to reduce fuel consumption and carbon emissions by more than 20% compared with the currently widely used LEAP engine, and achieve sustainable aviation fuel consumption. 100% compatible with alternative energy sources such as hydrogen.

Xiang Weiming said, "In the future, GE will continue to promote low-carbon operations, invest in innovative R&D, and industrial chain cooperation, gather global wisdom and experience, and work with local partners to help China achieve high carbon emissions in power, industry, and transportation. The low-carbon transformation of the industry drives a more sustainable future.”