On October 14th, 2016, HEI Chairman Guo Yu was invited as a special guest to attend the ‘2016 One Belt and One Road Summit’ (hereinafter referred to as ‘the Summit’) held by GE at the Diaoyutai State Guesthouse in Beijing with the theme of ‘China for the World’, and held talks with GE Global Vice Chairman John Rice.

Regarded as one of the most important annual events, the Summit carried out an extensive discussion of how to take the strategic opportunity of the ‘One Belt and One Road’ initiative to establish a ‘China for the World’ oriented global cooperation mechanism for the whole industry, and accelerate the expansion of China’s overseas eEPC business along the ‘One Belt and One Road’ route region. Nearly 1,000 leaders from domestic and overseas EPC industries attended the Summit, along with representatives from Chinese enterprises engaging in EPC sector, policy-making authorities and financial institutions, and regional project owners. High-level talks were set as an essential part of the Summit, in which HEI President Mr. Guo Yu shared the successful experience of the in Hassyan 2,400 MW Clean Coal Project in Dubai with Silk Road Fund President and Executive Director Mr. Wang Yanzhi and ACWA Power CEO Mr. Paddy, with GE Steam Power System CCO Mr. Michael as the moderator. Paddy and Wang Yanzhi respectively made detailed elaborations in terms of the investment architecture and IPP bidding strategies in Hassyan, the role of the Silk Road Fund in facilitating project financing by equity and credit participation, supporting overseas projects for Chinese enterprises and others. Guo Yu fully recognized the teamwork and support given by ACWA Power, Silk Road Fund, GE and other project participators, and shared the experience accumulated in the process from start-up of project development to final award. In addition, Guo Yu described the challenges both in the aspects of technical standards and environmental-protection requirements, providing valuable references and examples for Chinese participants to ‘go global’ and for China to speed up the implementation of the ‘One Belt and One Road’ strategy.

At the Summit, the attending parties expressed their intentions to take the Hassyan Project as a cooperation template for conducting cooperation on other electric power projects worldwide, and making concerted efforts to tap into the potential market for investment in electric power projects.

In conversation with GE Vice Chairman John Rice, Guo Yu stated that HEI recently held a ceremony for the renewal of its strategic partnership agreement with GE. Compared with the signing of the strategic partnership agreement three years ago, the renewal of the agreement marks that the cooperation between the two parties has entered a practical stage with fruitful results. They worked in teams closely like a family. Guo Yu also pointed out that cooperation and inclusion formed the eternal theme, especially for Hassyan Project in which it was due to the complementary advantages and cooperation among HEI, GE and ACWA Power that they could stand out from over 30 competitors, and HEI’s comprehensive competitiveness was thereby improved to a new level. HEI would like to work further with GE and ACWA Power to replicate the innovative cooperation mode adopted in the Hassyan Project in projects in Jordan, Morocco and other countries, thereby realizing the potential for win-win cooperation.

Guo Yu agreed with John Rice’s industrial digital concept, and expressed a belief that HEI should keep up with the latest industry trends to make good preparations for its industrial digitalization. Adhering to the principles of open and diversified development, HEI expects to carry out more flexible cooperation with GE on investment, financing and equity loans. In light of the existing harmonious cooperation at all levels, HEI has full confidence in the prospects for cooperation.

John Rice said that HEI is GE’s best partner in the power field, and also GE’s first partner in the EPC industry in China, so he can see HEI and GE enjoying a long-standing partnership. In addition, the Hassyan Project jointly undertaken by GE and HEI was the best demonstration of pragmatic cooperation under the ‘One Belt and One Road’ initiative. He also said that GE would develop towards the path of irreversible industrial digitalization, taking digital capability as the tool to occupy greater shares and achieve more success in EPC. GE looks forward to further cooperation with HEI on industrial digitalization, and invited President Guo Yu and HEI delegates to visit GE’s digital center in Saint-Taymond.

HEI Vice President Wang Shimin, HEI Chief Marketing Officer Ge Xin, GE Senior Vice President and GE China President& CEO Ms. Duan Xiaoying and GE Steam Power SystemCCO Michael Keroulle and others were present.