Siemens and State Power Investment Corporation agree on comprehensive cooperation

• 5 years ago (2019-03-27)
• David Flin

Asia 859 Gas 379

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Siemens and State Power Investment Corporation (SPIC) of China have signed a comprehensive Strategic Partnership Framework Agreement (SPFA). This follows a Technology Collaboration agreement on heavy-duty gas turbines between Siemens and China United Heavy-Duty Gas Turbine Company (UGTC). The SPFA was signed by Qian Zhimin, Chairman of SPIC, and Joe Kaeser, President and CEO of Siemens, on 26 March 2019 in Beijing.

The SPFA will further expand the cooperation in power generation in addition to the earlier agreed technology collaboration between Siemens and UGTC. Both companies will also collaborate in high-technology product demonstration, such as in the field of digitalisation of power plants or in hydrogen utilisation projects and smart energy management for a decentralised energy system. Both parties also agreed to cooperate in project execution.

Joe Kaeser said: “With this agreement, both parties are set to benefit from the expected structural growth in China’s electricity generation market. This agreement marks a further important milestone following our successful technology collaborations with Chinese enterprises over the last decades. The objective of both parties is to form a longstanding partnership extending beyond the scope of the agreements announced today.”