Canada's Xantrex Technology, based in Vancouver, says it will form a joint venture with Shanghai Power Transmission & Distribution (SPTD) to design, manufacture and sell wind and solar power electronics products exclusively for the renewable energy market in China. The deal is an "important milestone" for Xantrex, says chairman Mossadiq Umedaly. "The renewable energy market in China, which has the potential to be very large, is integral to our long term growth plans and Shanghai Electric is a resourceful and strategically attractive partner," he adds. Total initial investment in the joint venture, to be owned 49% by Xantrex and 51% by SPTD, will be $20 million. The partners plan to build a manufacturing facility in Shanghai and develop a product line based on technology licensed from Xantrex. The company manufactures wind converter systems for utility scale applications and inverters for large solar projects, as well as inverters for residential wind and solar power systems.
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Senior Renewable Energy Analyst (WindGEMINI Product Lead) DNV GL Bristol (City Centre), City of Bristol