Siemens will hold a 49% stake in each of the joint ventures, while Shanghai Electric will have the remaining 51% interest.
One joint venture will focus on R&D and production of wind turbine equipment for the Chinese market and for Siemens’ global supply network.
The second joint venture will be engaged in wind turbine equipment sales, marketing, project management and execution as well as service in China.
Shanghai Electric chairman and CEO Xu Jianguo said the establishment of strategic cooperation with Siemens will improve the manufacturing capability of wind industry in China.
"The wind market in China is entering into an integration phase, so the cooperation with Siemens for these two joint ventures will provide Shanghai Electric with new opportunities for development," Jianguo said.
