Monday, March 16, 2009

BVI-based A-Power signs two agreements with GE Drivetrain Technologies

British Virgin Islands-registered A-Power Energy Generation Systems Ltd., the provider of distributed power generation systems in China, and GE Drivetrain Technologies have signed supply and joint venture partnership agreements. The first agreement signed is for GE Drivetrain Technologies to supply A-Power with 2.7 megawatt (MW) wind turbine gearboxes, and another one is to establish Joint Venture partnership for a wind turbine gearbox manufacturing plant in China. Prior to signing the contracts, the companies signed letters of intent a month ago.

Both the agreements are supporting China's initiative to increase wind energy output from one gigawatt in 2005 to 100 gigawatts by 2020, and are the basis for additional future investments by GE Drivetrain Technologies in its local supply chain.

GE Drivetrain Technologies is a unit of GE Transportation – part of General Electric Company, which is a global technology supplier to the railroad, marine, drilling, mining and wind industries.