GE JV looks to capture ballooning China wind power market
Posted on March 6, 2009 at 3:33 PM
Filed under: CORPORATE STRATEGY | DEAL INTERNATIONAL | GROWTH STRATEGY | JOINT VENTURES AND ALLIANCES
Tagged: A-POWER ENERGY GENERATION SYSTEMS , GE DRIVETRAIN TECHNOLOGIES , GE ENERGY , GE TRANSPORTATION , WIND POWER
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GE Drivetrain Technologies and A-Power Energy Generation Systems (NASDAQ: APWR) are forming a joint venture to serve China's growing wind power market. The JV will create a wind turbine gearbox assembly business that will be majority owned by GE Drivetrain and operate under the name GE Transportation. A-Power is the largest provider of distributed power generation systems in China.
Interestingly, GE Drivetrain is not part of GE Energy, a $5 billion business that operates wind turbine manufacturing and operating facilities in five countries, including China. Rather, the business is a unit of GE Transportation, which makes locomotives, railway signaling and communications systems, marine engines and drive systems for mining trucks. Building on its expertise in electric drive systems, GE Transportation in 2002 developed a hybrid gearbox and generator to power wind turbines that is significantly smaller than current designs. Today, GE Drivetrain is a leading supplier of gearboxes in North America, and is looking to expand globally.
That it's chosen China for its latest investment is no surprise. The Chinese government has set aggressive goals to adopt clean energy technologies, and according to Renewable Energy World, the country is on track to become a leading consumer of wind power in the next 15 years. - Suzanne Stevens
I saw this in the AM, and figured I would share (especially like the last paragraph:). I believe on the GC presentation it mentions GE on the one slide.
stocky
