GE has announced a joint venture with Harbin Electric Machinery Co. Ltd. (HEC), a subsidiary of Harbin Power Equipment Co. Ltd., to manufacture and supply wind turbines to its customers in China. The deal enhances GE's ability to compete in China's $13 billion wind industry segment, according to the company.
‘This is an important investment in China for GE and one that will enable us to participate in the tremendous growth potential of the Chinese wind turbine segment,’ says Jack Wen, president and CEO of GE Energy China.
The new company will manufacture GE-designed wind turbines for near-shore and offshore applications in China. Under the new joint venture, HEC will own 51% and GE 49% of the company. As part of the overall wind partnership, HEC is purchasing a 49% interest in the existing GE Shenyang Wind factory, which will continue to manufacture land-based wind turbines.
GE will work with the new joint venture to develop wind turbines for offshore projects in China using direct-drive technology. The joint venture will also provide customer and sales support, as well as commissioning and maintenance services to help customers maintain their fleet.
SOURCE: GE Power & Water