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CRRC's Wind-Solar-Hydrogen-Storage Integration Solutions Empower the Global Green Energy Ecosystem

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CRRC's Wind-Solar-Hydrogen-Storage Integration Solutions Empower the Global Green Energy Ecosystem
Business

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CRRC's Wind-Solar-Hydrogen-Storage Integration Solutions Empower the Global Green Energy Ecosystem

2024-09-25 23:26 Last Updated At:23:45

HAMBURG, Germany, Sept. 25, 2024 /PRNewswire/ -- At WindEnergy Hamburg, CRRC Corporation Limited ("CRRC", SHA: 601766) showcases its line-up of wind-solar-hydrogen-storage integration solutions, attracting visitors to Booth 241 in Hall B7 of the Hamburg Messe und Congress. The exhibit demonstrated how electricity from wind and PV sources is transferred to the urban grid via a booster station, with surplus power either stored in an energy storage system or used for hydrogen production. CRRC also displayed the full process of energy production, storage, and application within its systems, emphasizing a green, low-carbon, and sustainable ecosystem.

Its renewable energy portfolio includes wind, PV, hydrogen production, and energy storage. With its complete wind turbines as the cornerstone, CRRC has developed a technology and industry chain that spans all facets of clean electricity – from generation to transmission, distribution, and usage. The Company is equipped to offer customized wind-solar-hydrogen-storage integration solutions for various scenarios, accelerating the global shift towards carbon peaking and neutrality.

A Comprehensive Full-Category Wind and Solar Power Industry Chain Established

In 2023, 60% of all new wind power capacity added globally came from China, underscoring China's substantial role in the expansion of wind energy worldwide. CRRC, a pioneer in China's wind power equipment manufacturing sector, boasts a complete industry chain and wide range of products. It has successfully created an industrial cluster for wind power equipment, encompassing complete wind turbines, generators, blades, tower barrels, converters, gearboxes, transformers, and more. CRRC offers over 80 models, with flagship products spanning 1.5 MW to 12 MW for onshore applications and 8 MW to 20 MW for offshore applications. Its capabilities in equipment development, design, and manufacturing rank among the world's best, serving more than 260 wind farms globally with a total installed capacity exceeding 13,000 units.

In April this year, Brinckmann (BM), one of the world's top renewable energy consulting and research firms, announced the market share rankings for the top four component manufacturers in wind turbine blades, gearboxes, converters, and generators. CRRC secured the top global position for wind generators.

Beyond wind power, CRRC has also advanced the PV industry. Leveraging core technologies from the rail transit sector, such as system integration, converters, and control systems, CRRC has developed a series of portfolio of centralized and string inverters, with over 50GW delivered cumulatively. The offerings are suited for environments ranging from large-scale desert and mudflat power plants to industrial and commercial rooftops, and are used in more than 20 countries worldwide.

Hydrogen Energy and Energy Storage: Flexibility, Safety, Efficiency

The surge in renewable energy sources, such as wind and solar, has positioned green power-to-hydrogen as a pivotal solution to address the volatility and intermittency of these resources.

CRRC's flexible green power to hydrogen system maintains a dynamic balance between hydrogen production load and wind-solar generation capacity. Utilizing wind-solar forecasting, energy scheduling, cluster control, and gas-liquid regulation, the solution embodies flexibility, safety, efficiency, and intelligence. It offers optimal system-level benefits for multiple renewable energy hydrogen production scenarios, including AC/DC, grid connection/stand-alone, and others.

Energy storage is crucial for the development of renewable energy and is a key element of the new power system. It stores and releases energy, reduces wind and solar curtailment, manages peak demand, and enhances power supply reliability. CRRC has introduced the 5.X liquid-cooling energy storage system, featuring a 5 MWh single-cabin capacity and 99% maximum converter efficiency. The system ensures superior safety, longevity, and reliability.

As a global energy technology leader, CRRC aims to spearhead technological advancements, drive the evolution and upgrading of renewable energy technologies, and contribute to the global energy transition towards a cleaner, more beautiful Earth.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

CRRC's Wind-Solar-Hydrogen-Storage Integration Solutions Empower the Global Green Energy Ecosystem

CRRC's Wind-Solar-Hydrogen-Storage Integration Solutions Empower the Global Green Energy Ecosystem

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PRA Group Announces Leadership Succession Plan

2025-04-08 04:05 Last Updated At:04:25

Martin Sjolund appointed President and Chief Executive Officer, effective June 17, 2025

Vikram Atal to serve as senior advisor through December 31, 2025

NORFOLK, Va., April 8, 2025 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that its Board of Directors has appointed President of PRA Group Europe Martin Sjolund to serve as President and Chief Executive Officer (CEO), effective June 17, 2025. Sjolund succeeds current President and CEO Vikram Atal, who announced that he will retire and serve as a senior advisor through December 31, 2025. Sjolund will be appointed to the Board upon assuming the role of President and CEO, and Atal will retire from the Board at that time.

"On behalf of the Board, I want to thank Vik for his leadership of PRA Group during a pivotal time," said Executive Chair of the Board Steve Fredrickson. "Today's announcement is the culmination of the Board's ongoing succession planning process and commitment to enabling long-term, profitable growth."

"It has been a privilege to lead PRA Group through this transformative time in the company's history," said Atal. "Since March 2023, I have worked closely with Martin, and I am highly confident in his ability to further strengthen our global leadership position. His strong track record in our European business, extensive industry knowledge, thoughtful leadership and commitment to our culture and customers will build on our strengths and create meaningful value for our shareholders in the years to come."

"I am honored to have the opportunity to lead PRA Group as we enter our next phase of growth," said Sjolund. "As a team, we have already achieved record global portfolio purchases and double-digit cash growth, expanded our leadership team, improved operational processes and strengthened our capital structure. These actions have positioned us to continue driving the company forward while delivering value to our shareholders."

About Martin Sjolund
Sjolund has served as President of PRA Group Europe since 2018, providing leadership across 15 markets in Europe, Canada and Australia. During his tenure, Sjolund oversaw nearly $3 billion of successful portfolio investments across Europe, all while significantly improving the profitability of the European business. He led our expansion into two new markets, modernized the IT infrastructure and contact platforms, enhanced the data and analytics function and ultimately created one of Europe's most cost-efficient debt buying platforms.

Before being promoted to his current role, Sjolund served as Chief Operating Officer of Europe from 2015 until 2018. He was previously Director of Group Strategy and Corporate Development (Europe), a position he also held at Aktiv Kapital from 2011 until PRA Group acquired Aktiv Kapital in 2014.

Prior to joining Aktiv Kapital, Sjolund held leadership positions in global technology companies and was a management consultant with McKinsey & Company in Singapore and London. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.

About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.

News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com

Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

PRA Group Announces Leadership Succession Plan

PRA Group Announces Leadership Succession Plan

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