Siemens and Shanghai Electric investing USD226m in wind ventures

Wed Dec 14 2011, 09:25 AM
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Siemens and Shanghai Electric (SE) are investing USD226m in two new joint ventures which will target the Chinese wind power market. The first will focus on R&D and production of wind turbine equipment, while the second will be responsible for sales, marketing and project management in the country. The deals will give SE access to Siemens wind turbine technology and knowledge of the offshore sector, while the German firm will benefit from SE electricity distribution network.

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