General Electric (GE) announced a flurry joint ventures in China that will give it a stake in the massive build-out of that country's electrical infrastructure. GE and State Grid Corporation of China (SGCC), China's top power distributor and one of the world's largest utilities, announced plans for several joint ventures to address China's growing energy needs and to electrify its vast transportation infrastructure. The ventures are part of GE's plans to invest $2 billion in China through 2012.
GE will work with Wuhan Nari, a subsidiary of SGCC, to improve the efficiency and reliability of China's electric grid by developing and implementing asset optimization technology solutions. GE will also work with Electric Power of Shanghai (EPS), controlled by SGCC, to jointly acquire a 77.5 percent controlling stake in Shanghai Tianling Switchgear Co., a Shanghai-based company developing and selling green power distribution equipment. This acquisition by GE and Shanghai Grid will reposition Tianling competitively in $10 billion global medium-voltage switchgear industry.