ABB_id2059
in News Departments > New & Noteworthy
print the content item

Citing fundamental differences in commercial priorities and business strategy, GE says it has come to a mutual agreement to dissolve its joint venture with China-based Harbin Electric.

In September 2011, GE announced the joint venture would work to manufacture and supply wind turbines to customers in China. Under the agreement, Harbin took 51% ownership of a new manufacturing facility in Zhenjiang, with GE holding the other 49%. Harbin also bought a 49% interest in GE's existing Shenyang Wind factory.

GE says the two companies have amicably agreed to pursue their respective strategies as separate, individual entities; Harbin will keep the Zhenjiang plant, and the Shenyang facility will continue as a 100% GE-owned plant. However, GE notes it is fully committed to the wind industry in China and its relationship with Harbin will continue through a long-standing gas turbine partnership.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015