MOSCOW, June 18 U.S. conglomerate General
Electric Co will create a joint venture with Russia's
state-funded private equity vehicle to build mini power plants
across Russia, the parties said on Tuesday.
GE has been active in Russia for more than 20 years,
supplying medical equipment to hospitals, signalling systems to
the rail network and credit through its GE Money Bank.
The mini power plants are low-power co-generation systems
producing up to 25 megawatts that are build independently of the
federal power grid and therefore without the need for
Industrial growth is driving greater demand for individual
power generation systems in Russia. The project will focus on
providing electricity to manufacturing plants and infrastructure
projects in the Russian regions.
GE and the Russian Direct Investment Fund said they would
sign a memorandum of understanding to create the venture on
Friday at an economic forum in St Petersburg.