GE announces Chinese joint venture

UNITED STATES: GE has announced a joint venture with Harbin Electric Corporation, a state-owned company, to build and supply wind turbines for the Chinese market.

Harbin Electric Machinery Co., based in Harbin, northeast China’s Heilongjiang Province, produces about one half of China’s hydro-electric power units and one third of China’s turbo generators.

In the new joint venture, Harbin Electric Machinery Co. invests CHY186 million to hold 51% of the stakes, with GE owning the remainder. The new plant will be based in Zhenjiang, east China’s Jiangsu Province.

At the same time, Harbin Electric Machinery Co. will spend CHY160 million to purchase 49% of the shares of GE Pacific Pte. Ltd.’s wind turbine plant in Shenyang.

The venture will provide Chinese customers with all-round services, including sales, startup and maintenance to help customers ensure normal operation of the turbines. It will also continue to develop the direct-drive turbine technology, and actively explore the Chinese inter-tidal and offshore wind power projects.

Jack Wen, president and chief executive of GE Energy China, said cooperating with Harbin Electric will enable GE to markedly expand its capacity and jointly supply advanced wind power technologies to customers.

GE Energy, a leading wind turbine supplier, has more than 14,000 wind turbines installed across the world, including nearly 1,000 turbines in China.

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