The German group has signed a partnership agreement with two Russian companies, Rostechnologii and RusHydro.
They will establish a joint venture, with Siemens retaining the majority stake. The partnership will set up the factory and assume responsibility for selling and servicing turbines.
Siemens is looking to carve out a dominant share of the Russian market, which is expected to hit 5GW by 2020, thanks to new government targets.
“We
