SHANGHAI Electric Group and Siemens yesterday announced a long-awaited wind power joint venture, which will include a wind turbine manufacturing company that targets the Chinese and global markets.

The venture deal is yet another example of market-for-technology cooperation between Chinese and foreign firms.

The venture, 51 percent owned by Shanghai Electric and 49 percent by the German industrial conglomerate, will include a company that will make wind turbines targeting the domestic and global markets as well as a sales unit for China, Shanghai Electric said.

China's accumulated installed wind capacity reached 44.7 gigawatts last year, surpassing the United States to become the world's largest. Domestic makers have grabbed market share from global competitors such as Vestas, but industry officials said China still needs technology know-how in key parts.

"Siemens will bring in advanced turbine technology and experience in international project operation and the offshore wind power sector," Shanghai Electric said, noting the partnership will enhance their strengths, particularly in the offshore field.

Siemens has been producing wind turbines and blades in Shanghai and moved the Asia-Pacific headquarters of its wind unit to the city in October. Siemens won its first offshore deal in China this year to supply a project in Rudong, Jiangsu Province.

Separately, leading Chinese turbine maker Xinjiang Goldwind Science and Technology Co said yesterday that it has agreed with Mainstream Renewable Power to supply 23 turbines to a windmill farm in Chile.

The deal is its second contract in South America following one in Ecuador. But Goldwind didn't reveal the contract value.

Source:shanghaidaily.