Siemens has signed a partnership agreement for cooperation in the renewable energy sector with Rostechnologii and RusHydro, two Russia-based companies. The three companies will establish a joint venture in which Siemens will retain the majority stake.
The planned joint venture is to set up production facilities for wind turbine components for the Russian market and will also be responsible for selling and servicing of Siemens wind turbines in Russia and other countries.
‘This strategic partnership will put us out front on the highly promising market for renewable energy in Russia,’ says Rene Umlauft, CEO of the renewable energy division of Siemens. ‘In the coming five years, we intend to install wind turbines with a total capacity of 250 MW to 500 MW per year.’
SOURCE: Siemens
