Deals
Shanghai Electric, Siemens Invest $226 Million in Wind Power
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Shanghai Electric Group Co. and Siemens AG will invest 169.1 million euros ($226 million) to form two wind-power equipment joint ventures that will include all of the Chinese company’s business in the industry.
Shanghai Electric will invest 31 million euros for a 51 percent stake in Siemens Wind Power Turbines Shanghai, which designs and makes turbine components and will be renamed SmartPower Wind Turbines Shanghai Co., according to a Hong Kong stock exchange filing yesterday.