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SPX and Shanghai Electric to supply cooling equipment in China
- 12 years ago (2012-01-05)
- Junior Isles
North Carolina based SPX Corporation and Shanghai Electric Group Co., Ltd. (Shanghai Electric) today announced the formation of a new strategic joint venture to supply products to the power sector in China.
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The joint venture agreement between Shanghai Electric Group and an SPX subsidiary within China will be called Shanghai Electric -SPX Engineering & Technologies Co., Ltd. and will be headquartered in Shanghai. Shanghai Electric will own a majority 55 per cent of the joint venture and an SPX company the remaining 45 per cent.
"SPX is deeply committed to growing its presence in China and emerging markets throughout the world," said Christopher J. Kearney, Chairman, President and Chief Executive Officer of SPX. "Our thermal products and services have long supported China's rapidly growing energy infrastructure, supplying dry cooling systems to numerous coal-fired power plants across the country. Shanghai Electric is a highly respected provider of systems and components to the global power market, with very strong relationships among utilities, power plant builders and the engineering procurement companies that play a critical role in awarding power project contracts," Kearney said.
The new entity will focus on supplying dry cooling technologies for power plants, which include air cooled condensers and indirect dry cooling tower (IDCT) systems, as well as moisture separator reheaters (MSRs).
"We have long been aware of SPX's excellent reputation for developing and delivering industry-leading products and services to the global power and energy market, including the company's high quality dry cooling and MSR technologies," said Mr. Jianhua Zheng, Shanghai Electric Power Generation Group President.
While dry cooling technologies have principally been utilized by coal-fired power plants in China, the technology can also be applied to combined cycle natural gas plants and renewable energy generation including solar thermal and biomass. China's projected growth in nuclear energy development also bodes well for potential demand for MSR's, since they are used in nuclear power generation.