GE has formed a joint venture with Harbin Electric Machinery Co., a subsidiary of Harbin Power Equipment Co., to manufacture and supply wind turbines to its customers in China. The deal will enhance GE’s ability to compete in China’s $13 billion wind industry segment.
China, already the world’s largest wind turbine sales territory, is projected to grow an additional 500 percent as the countrys installed wind capacity increases from the 2009 level of 25 GW to 150 GW by 2020. Overall, China’s electricity demand is growing at a rate of 12 percent per year. The Chinese government’s supportive renewable energy policies played an important role in GE’s decision to invest in the joint venture.
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 percent and GE 49 percent of the company. As part of the overall wind partnership, HEC is purchasing a 49 percent interest in the existing GE Shenyang Wind factory, which will continue to manufacture land-based wind turbines.
°We’re proud of our long-standing relationship with GE’ said Gong Jing Kun, chairman of Harbin Electric Corporation. °Since 2004, Harbin Power has partnered with GE to provide 9FA heavy duty gas turbines and related services in China.’
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 service to help customers maintain their fleet.