GE unit seeks partners for rail, wind

HONG KONG, CHINA - U.S. conglomerate General Electric's technology infrastructure unit is on the prowl for partnerships to boost its rail and wind power gear businesses in China, the unit's China chief executive said.

"We are always looking for partnership opportunities in various configurations in China," Tim Schweikert, president of GE Technology Infrastructure China, said at the Reuters Global Climate and Alternative Energy Summit.

Cash perks and tax breaks for renewable energy projects have spurred growth in China's wind sector, helping the country to become the world's fourth largest wind power producer.

Both the renewable energy and rail sectors are expected to benefit from China's 4 trillion yuan (US$585.9 billion) economic stimulus package.

Schweikert said the company was also working with potential partners for the application of utility-scale batteries in China.

"We are developing battery technology that we think will have terrific application in China, particularly in the renewable space as China develops its smart grid capability," he said.

U.S. conglomerate General Electric is investing heavily in developing utility-scale batteries that could store large amounts of energy and aid in the efficient distribution of electricity to end-users.

"We think that is going to be a high growth area," said Schweikert.

The company said the technology was still in the development stage, though the plan is to commercialize the battery early 2011.

Capitalizing on growth opportunities in the mainland, the company has established with China's Chongqing XinXing Fengneng Investment a gear-making joint-venture, where GE is taking a minority stake.

Schweikert did not disclose details of the partnership but said the joint-venture targets to make gears for turbines supporting large wind power projects with capacity of 2.5 megawatt to 4 megawatts.

The joint venture will have a capacity to produce up to 2,000 units yearly. The facility, based in Chongqing, China, will start producing gears in the third quarter next year.

"We are always looking at different options relative to partnerships from wholly owned investments such as a facility to partnerships like that with Xinxing," said Schweikert, who cites the gear business as a "significant revenue earner" for GE's China business.

The company chief said GE seeking joint-ventures under plans to localized its operations in China.

"Our intent is to make China our second home," said Schweikert.

Related News

Liz Truss

UK price cap on household energy bills expected to cost 89bn

LONDON - Liz Truss’s intervention to freeze energy prices for households for two years is expected to cost the government £89bn, according to the first major costing of the policy by the sector’s leading consultancy.

The analysis from Cornwall Insight, seen exclusively by the Guardian, shows the prime minister’s plan to tackle the cost of living crisis could cost as much as £140bn in a worst-case scenario.

Truss announced in early September that the average annual bill for a typical household would be capped at £2,500 to protect consumers from the intensifying cost of living crisis and a scheduled 80% rise in…

READ MORE
Mike Sangster to Headline Invest in African Energy Forum

Mike Sangster to Headline Invest in African Energy Forum

READ MORE

Minnestota govenor Tim Walz

Minnesota 2050 carbon-free electricity plan gets first hearing

READ MORE

uk-renewable-energy-auction-boost-for-wind-and-tidal-power

UK Renewable Energy Auction: Boost for Wind and Tidal Power

READ MORE

The Phillipines wants nuclear power to be included in the country's energy mix as the demand for electricity is expected to rise.

READ MORE