Beijing, China The new company will manufacture GE-designed wind turbines for near-shore and offshore applications in China. GE will hold 49% of the firm, with 51% belong to HEC, a subsidiary of the power plant equipment giant Harbin Power Equipment.
GE will also work with the new joint venture to develop wind turbines for offshore projects in China using direct drive technology.
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.
“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,” said Jack Wen, president and CEO of GE Energy China.
China already has the world’s largest wind turbine sales territory but its market is set to surge by 500%, with installed capacity soaring from 25 GW in 2009 to 150 GW by 2020.
GE has been active in China’s energy sector for nearly a century and has supplied the country with a wide range of products including 270 gas turbines, 70 steam turbines, 300 hydro turbines, and 935 wind turbines.#rewpage#