Siemens and Shanghai Electric say they intend to set up two new joint ventures targeting the Chinese wind power market.
According to the companies, the goal of this alliance is to better serve China's wind-market expansion. In each of the two joint ventures, Siemens will have a 49% stake, and Shanghai Electric will have a 51% stake.
One of the joint ventures will focus on the research, development and production of wind turbine equipment for the Chinese market and for Siemens' global supply network. The second joint venture will be responsible for wind turbine equipment sales, marketing, project management and execution, as well as service in China.
The agreements are subject to the approval of the anti-trust authorities.
