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Shanghai Electric Group Company Limited to Set up JVs
Shanghai Electric Group Company Limited announced that it plans to set up a joint venture, SmartPower Wind Turbines (Shanghai) Co., Ltd., with Siemens China in the form of the Company's capital injection into Siemens' subsidiary, Siemens Wind Power Turbines (Shanghai) Co., Ltd. The Company will hold a 51% stake in SmartPower Wind Turbines (Shanghai) Co., Ltd. At the same time, the Company will also set up a joint venture, Shanghai Electric Wind Energy Co., LTD, with Siemens China, with the Company to hold a 51% stake. The two joint ventures will be engaged in wind generation equipment business.
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