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Shanghai Electric Group and Siemens form joint venture wind power

    According to media reports, after two years of difficult negotiations, Shanghai Electric (601727) Group recently reached an agreement with Siemens, which together with the Siemens wind power to form a joint venture company, its products are mainly for the Chinese market.

    Win-win situation.

    "This thing is not confirmed." Feb. 21 Sun Shanghai Electric Group research director of China Economic Times in an interview, said that on the Shanghai Electric Group and Siemens joint venture company set up wind power does not really relevant media reports.

    However,booster cables one close to the Shanghai Electric Group, told this reporter, "which lasted two years of difficult negotiations, both sides have been entangled in a controlling stake in the joint venture and technology transfer conditions,battery clip and was finally made a compromise of Siemens."

    German "Handelsblatt" had previously reported that Siemens will carry out accelerated wind power business,tow rope focusing on expanding in China and other emerging market sales, adding that Siemens will set up a joint venture Shanghai Electric Group and accounted for 49% of the shares.

    22, Siemens areas to verify this news, but the company related to management said the company is temporarily comment on the matter, ratchet tie dowm if the message, and the media are willing to share.

    "The cooperation of the two companies is certainly a win-win." CSC analyst Cheng Jianguo told this reporter.

    "Fancy Siemens and Shanghai Electric Group's market background state-owned enterprises, Shanghai Electric's objective is to learn through cooperation of Siemens advanced wind power technology." Investment Advisor in Senior Fellow interviewed by Lee Sheng-mao said.

    According to this report, Shanghai Electric Group is the vanguard of the domestic machinery industry, is the largest supplier of power plant equipment, has five power generation groups and domestic long-term close working relationship, the main domestic wind farm power generation by the five business operations, sales channels and therefore relatively smooth. Siemens has long been engaged in the development of wind power equipment, and production in leaves, generator, inverter, we have the unique technology.

    Siemens wind turbine blades, general manager Martin has bluntly: "Our strength lies in the overall processing of the patent." But, "Siemens in order to enter the Chinese market, they must localization. Shanghai Electric Group is the hope that the market for technology." China Wind Energy Association, Shi Pengfei, vice president, said when interviewed.

    It is reported that as early as July 4, 2005, the National Development and Reform Commission issued "on wind power construction management of the required notice": wind power equipment localization rate to 70% or more, does not meet the requirements of the wind equipment localization rate electric field does not allow the construction of the customs import equipment to pay taxes.

    "The two sides mainly in the large-scale offshore dedicated fan, fan and blower machine's key components of services and management of the late whole to cooperate." Li Sheng-mao special emphasis, as Shanghai Electric Group to enter the field of wind power a short time, while wind power machine of Shelf life is generally more than two decades, post service and maintenance will help Siemens, this cooperation is a major focus.

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