German industrial conglomerate Siemens AG (SI) will announce a joint venture Thursday with two Russian partners for producing wind turbines in Russia, a spokesman said Wednesday.
German industrial conglomerate Siemens AG (SI) will announce a joint
venture Thursday with two Russian partners for producing wind turbines in
Russia
, a
spokesman said Wednesday.
The spokesman confirmed a report by Financial Times Wednesday that Siemens
Chief Executive Peter Loescher plans to announce the new project during German
Chancellor Angela Merkel's visit to
Russia
.
Siemens wants a piece of the large investment
Russia
is
making in wind power. By 2020,
Russia
aims
to have more than EUR5 billion worth of wind power assets, with a capacity of
5,000 megawatts.
Russian Technologies Corp. and RusHydro (HYDR.RS) are Siemens' partners in the
wind power joint venture to be announced Thursday.
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