GE Joins HEC for Launching Wind Turbine Project in China

GE (General Electric) has joined HEC (Harbin Electric Machinery) for launching a wind turbine project in China. This joint venture is towards the manufacture as well as for supply of wind turbines for the Chinese customers. China’s wind industry has been estimated at a value of $13 billion while projected to grow by 500% additionally. The country’s overall installed capacity for wind energy is expected to grow from the level of 25 GW in 2009 to 150 GW by the year 2020.

As per GE, the overall electricity demands in China have a growth rate of 12% annually. The renewable energy policies of the Chinese government have helped GE in making the decision towards investing in this joint venture. This new company will be manufacturing GE-designed wind energy turbines for both the offshore and onshore applications in China and offshore wind turbines will use the direct drive technology.

Under this new joint venture, GE will own 49% of the company’s stakes while HEC would own 51%. This overall wind partnership has also resulted in HEC purchasing 49% interest in the already existing GE Shenyang factory for wind turbines. This plant will continue its manufacture of land-based wind energy turbines. Apart from developing wind turbines, this joint venture would also be providing sales and customer support along with commissioning and maintenance services.