Erlangen, Germany, July 15, 2010 — Siemens has signed a partnership agreement for cooperation in the renewable energy sector with the two Russian companies Rostechnologii and RusHydro.
The three companies will establish the joint venture “wind energy“ where Siemens will retain the majority stake. The planned joint venture is to set up production facilities for wind turbine components for the Russian market and will also be responsible for sales and service of Siemens wind turbines in Russia and other countries.
“This strategic partnership will put us out front on the highly-promising market for renewable energy in Russia”, states Rene Umlauft, CEO of the Renewable Energy Division of Siemens. Russia is planning to have a wind power capacity of about 5,000 MW installed by 2020. “In the coming five years we intend to install wind turbines with a total capacity of 250 to 500 MW per year.”
With this joint venture in Russia, Siemens is pushing ahead with the regionalization of the manufacturing network on important markets. In the current year alone Siemens will bring three further factories for production of wind turbine components on line in the U.S. and in China. Other production facilities are planned for India and Great Britain.