Frankfurt (AFP) June 28, 2010
German industrial group Siemens said on Monday that it had raised its stake in a joint venture with Shanghai Electric of China and added that other tie-ups were in the offing.
A Siemens statement said it now owned 40 percent of the Shanghai Electric Power Generation Equipment (SEPG), which installs gas and coal-powered generators as well as conventional parts for nuclear power stations.
Meanwhile, Siemens and Shanghai Electric intend to create another new joint venture to build Chinese steam and gas turbine power plants, with talks forecast to wrap up in the second half of this year.
A third project in the renewable energy sector is also planned, the statement said.
Previously Siemens owned 33.7 percent of SPEG. No financial details were available of the deal.
Share This Article With Planet Earth
Transportation Is The Achilles' Heel Of Green Energy Efforts
Tempe AZ (SPX) Jun 28, 2010
In America's efforts to go green, our Achilles' heel is transportation; cars, trucks, and buses represent 29 percent of U.S. energy use, according to Gary Dirks, director of LightWorks at Arizona State University and a renewable energy expert. Whenever U.S. officials talk about finding ways to end our reliance on oil, like now as a reaction to the massive Gulf of Mexico oil spill, we need ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|