GE, Harbin form joint venture to market wind turbines in China

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GE Energy (Atlanta, GA) announced that it has formed a joint venture with China’s Harbin Electric Machinery (HEC) to produce GE-designed wind turbines for sale in the Chinese wind energy market. Anticipating a six-fold increase in China’s wind power capacity by 2020, the joint-venture company will produce turbines for both terrestrial facilities and offshore wind farms. GE will hold a 49% stake in the new joint-venture company, while HEC will have a controlling 51% interest. As part of the agreement, HEC will also acquire a 49% interest in GE’s turbine production plant in Shenyang, which makes turbines for terrestrial applications.

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