Chinese spending spree in U.S. could include power plants

subscribe

Chinese buying spree in U.S. likely to include billions in power plants, Boeing jets

General Electric Co. recently disclosed energy, aviation and rail projects with China worth at least $2.1 billion in sales--the first of what is expected to be a number of megadeals announced during Chinese President Hu Jintao's state visit in Washington.

One of the collaborations involves a five-year joint venture with China Huadian Corp. to produce and install at least 50 gas turbine generators, which the company said will bring in about $500 million in revenue. In announcing the agreement, GE and the Department of Commerce emphasized how the deal with benefit the U.S.-- $350 million will be U.S. exports and could create about 2,100 U.S. jobs.

The Wall Street Journal reported that similar announcements are in the works: "The Shanghai-based venture with Aviation Industries of China will handle the development and sale of all new integrated avionics systems for the two companies... The U.S. also expects deals in the computer and agricultural areas. The White House expects the centerpiece of the package to be the sale of Boeing Co. jets."

Separately, a Chinese trade mission in Houston signed $600 million in deals with U.S. companies that do business in porcelain and cotton and an agreement to collaborate on development of solar power.

"These six deals are just the start of further strengthening Chinese-U.S. economic cooperation," deputy commerce minister Wang Chao said in a statement.

The Ministry of Commerce said Wang will soon lead a 500-member mission comprised of businessmen and trade officials to Chicago--one of the stops on Hu's visit and of course U.S. President Obama's old stomping grounds--to explore other possible deals.

Related News

nissan vehicle to grid connection

Vehicle-to-grid could be ‘capacity on wheels’ for electricity networks

WASHINGTON - “There are already many Gigawatt-hours of batteries on wheels”, which could be used to provide balance and flexibility to electrical grids, if the “ultimate potential” of vehicle-to-grid (V2G) technology could be harnessed.

That’s according to a panel of experts and stakeholders convened by our sister site Current±, which covers the business models and technologies inherent to the low carbon transition to decentralised and clean energy. Focusing mainly on the UK but opening up the conversation to other territories and the technologies themselves, representatives including distribution network operator (DNO) Northern Powergrid’s policy and markets director and Nissan Europe’s director of…

READ MORE
rio-tinto-mine

Rio Tinto seeking solutions that transform heat from underground mines into electricity

READ MORE

electricity prices

Electricity Prices Surge to Record as Europe Struggles to Keep Lights on

READ MORE

powerlines

DOE Announces $34 Million to Improve America?s Power Grid

READ MORE

nick clark

Calgary electricity retailer urges government to scrap overhaul of power market

READ MORE