in News Departments > New & Noteworthy
print the content item

Hitachi Ltd. plans to partner with Mitsubishi Heavy Industries (MHI) in a potential Siemens-driven bid for Alstom's energy business. Just yesterday, MHI and Siemens revealed that they will decide whether to submit a joint proposal to Alstom by June 16 that would counter a $17 billion bid from U.S.-based GE.

According to a Bloomberg report, Hitachi and MHI, both Japanese companies and long-time partners, might bid about $5 billion for Alstom's steam turbine assets, with Siemens paying the same amount for Alstom’s gas turbine division. However, there was no indication of whether the proposal would include Alstom's wind turbine business.

Bloomberg reports that the president of Hitachi’s power systems unit verified the partnership and said the offer would have no effect on the Japanese company’s close ties with GE in the nuclear energy sector. GE, meanwhile, continues to negotiate with the French government regarding its $17 billion proposal for Alstom’s energy business.





IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015