CN-Shanghai Waigaoqiao

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The Waigaoqiao Thermal Power Project is intended to: 1) increase electricity supply to reduce the acute power shortages in Shanghai through development of two very large coal-fired super-critical thermal units; 2) develop a program to apply for the first time in China the "bubble concept" for cost effective air quality management within Shanghai Municipality; 3) support the ongoing power sector reform by restructuring Shanghai Municipal Electric Power Company (SMEPC) in line with the power sector reform strategy; increasing private sector involvement through listing of the generation company; and adjusting the tariff level to accommodate the stricter sulfur dioxide emission standards; and 4) promote an innovative and diversified financing model for large infrastructure projects and improve the access of power entities to international financial markets. The project will include the following components: (i) investment; (ii) environmental protection; (iii) power sector reform; and (iv) institutional development.