Harbin Power announced that the company’s non-wholly-owned subsidiary Harbin Electric Machinery Factory (Electric Motor Company) signed an agreement with General Electric on the 26th to cooperate in the development of wind power business. The Electric Motor Company invested 160 million yuan (RMB, the same below) to acquire GE PACIFIC PTE. LTD. belongs to GE Energy (Shenyang) with 49% of the shares. After the acquisition, the company changed its name to GE Harbin Electric Wind Energy (Shenyang).
At the same time, the Electric Motor Company invested 186 million yuan and General Electric (China) (GM China), a subsidiary of General Electric, to establish Harbin Electric General Wind Energy (Jiangsu) (Jiangsu Company) in Zhenjiang, Jiangsu. The Electric Motor Company holds 51% of the shares and GM China holds 49 % Equity. Jiangsu company mainly produces offshore and offshore wind turbines.
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