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|Rachel Duan, president and CEO of GE China|
With guests including government officials, Chinese EPC (engineering, procurement and construction) company representatives, project end-users, and financiers, the Beijing forum provides a comprehensive view of the energy infrastructure ecosystem.
Now in its fifth year, the GE-Caixin forum is China’s first private-sector forum focusing on how Chinese infrastructure companies can employ best practices in going global.
With the Belt and Road Initiative originally announced in 2013, the forum took an opportunity to reflect on the past five years of executing projects in Belt and Road regions.
Industry experts were invited to discuss their views in sub-forums on market ecology for the regions of Latin America, the Middle East, and Asia, as well as in sub-forums on turnkey solutions for market development, project cooperation, and financing.
Participants took lessons from successful cases, while also acknowledging the challenges brought on by a world of rising geopolitical uncertainties.
|Since GE started working with Chinese EPCs more than 20 years ago, it has delivered over 35GW of power to developing markets, with an additional 20GW worth of power underway or pledged based on orders through the first half of 2018.|
“The past five years have been an incredible journey for us and our partners, as we have been able to join with leaders from across the Belt and Road ecosystem at this forum,” said Rachel Duan, president and CEO of GE China.
“Together, we have forged partnerships which harness the technology, engineering, and financing capabilities of multiple players on a global scale, to bring power and tangible economic benefits to communities along the Belt & Road.
“I am confident that our learnings will help us to drive forward further cooperation in the energy infrastructure ecosystem, and open in even more exciting chapter in the next five years,” Duan added.
Since GE started working with Chinese EPCs more than 20 years ago, it has delivered over 35GW of power to developing markets through these partnerships, with an additional 20GW worth of power underway or pledged based on orders through the first half of 2018.
Nearly two thirds of these orders have originated in the past five years alone, spurred by Chinese EPCs increasingly going global under the Belt and Road initiative.
Since the Belt and Road Initiative was launched, nearly 100 countries and international institutes have pledged support and gotten involved in growing the markets along the Belt and Road, with many landmark projects successfully completed or underway.
Forum participants agree that the continued success of the Belt and Road requires companies to deliver tangible results to local communities, with economically and environmentally sustainable solutions.
The forum provided an opportunity to review projects from the past five years, the incredible impact they have generated for local communities, and the reasons that these projects have been successful.
In line with project reviews, the forum provided an opportunity for attendees to network and forge new agreements for working together.
GE has signed a number of new deals with partners at the event, including India's Godda-2x800MW coal-fired power plant project, a long-term services agreement with Thar Energy Limited for the 330MW mine mouth lignite-fired plant at Thar Coal Block II Sindh, strategic teaming agreement with Energy China Energy Engineering Corporation subsidiary- NEPC- to offer competitive aero-derivative power plant solutions for global customers, and a project on Iraqi power sector development.
The 2018 forum noted that despite constant news of a more protectionist world, the global demand for power persists.
Forum participants agree that the key challenge will not be finding demand, but rather meeting the need for financing, dealing with geopolitical risk, and providing the right technological solutions for the right regions.
Breakout sessions at the forum discussed issues covering recent developments such as the decreasing cost of renewables, the rise of hybrid projects, and the ever-changing dynamics within host countries.