China, with its US$13 billion wind industry is already the world’s largest wind turbine sales area, and is forecasted to grow another 500% from 25 GW installed in 2009 to 150 GW by 2020. China’s electricity demands are growing 12% per year.
Ricardo Cordoba, President GE Energy Western Europe and North Africa, says: “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.”
GE, through the JV, will develop wind turbines for offshore projects in China using direct drive technology – both for near-shore and offshore applications.
HEC will own 51% and GE 49% of the wind turbine JV. HEC will also purchase a 49% interest in GE’s Shenyang Wind factory, which will continue to manufacture onshore wind turbines.
The JV will also provide customer and sales support, as well as commissioning and maintenance services.