August 10, 2009
New Deals, Growth in China Clean Tech
The National Energy Administration in Beijing plans massive wind power installations by 2020. The first such wind farm of 10 Gigawatt capacity in Jiuquan, Gansu Province, near China's first (founded 1958) and most famous space center, is underway with Huaneng Power and several other companies - including foreign businesses - involved.
Meanwhile, Huaneng Power (NYSE: HNP) and Duke Energy signed a non-binding memorandum of understanding in Beijing for collaboration in clean coal, carbon capture, energy savings, and renewables. The venture opens the door for Huaneng investments in the USA.
In related news, GE will sell 9 gas turbines to a Fujian power company for over $100 million (US dollars). GE manufactures the gas turbines at plants in South Carolina and France....
Labels: alternative energy, foreign investment, General Electic
May 15, 2008
Will GE Turn Chinese?
The announcement that GE is hiring investment bankers for a possible sell of its appliance business has commenters buzzing that the Chinese may be interested suitors, specifically Haier which was thwarted in its bid for Maytag three years ago by a shamelessly xenophobic (and non business minded) US Congress. GE's appliance unit has a long and distinguished history as an early manufacturer of household appliances and former market leader but it's sales today - though substantial at over $7 billion annually - have fallen behind foreign brands in Germany and Asia (South Korea's LG, for example).
Labels: china, Chinese business, foreign investment, General Electic, Haier, investment
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