Comments
GE Energy has partnered Chinese company XD Electric Group to provide electric transmission and distribution (T&D) and grid automation solutions.
The joint venture combines GE’s grid automation and service capabilities with XD Electric’s comprehensive portfolio of primary power equipment and offers customers in China localised grid automation solutions, according to a press statement.
As part of the contract, GE will purchase a 15 per cent equity stake in XD Electric and will appoint a representative to the XD board of directors, the statement said.
The companies expect that the partnership will be able to begin operations in the fourth quarter of 2012 as the formation of the partnership remains subject to regulatory approvals.
According to the statement, the T&D industry is a $100-billion industry globally and China represents approximately 25 per cent of the industry’s projected expansion and it plans to invest $600 billion in its electrical infrastructure over the next decade.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.