in News Departments > New & Noteworthy
print the content item

Citing fundamental differences in commercial priorities and business strategy, GE says it has come to a mutual agreement to dissolve its joint venture with China-based Harbin Electric.

In September 2011, GE announced the joint venture would work to manufacture and supply wind turbines to customers in China. Under the agreement, Harbin took 51% ownership of a new manufacturing facility in Zhenjiang, with GE holding the other 49%. Harbin also bought a 49% interest in GE's existing Shenyang Wind factory.

GE says the two companies have amicably agreed to pursue their respective strategies as separate, individual entities; Harbin will keep the Zhenjiang plant, and the Shenyang facility will continue as a 100% GE-owned plant. However, GE notes it is fully committed to the wind industry in China and its relationship with Harbin will continue through a long-standing gas turbine partnership.


Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Canwea_id1984
Renewable NRG_id1934