The
long-expected
deal
will
see
the
Chinese
company
take
a
majority
stake
in
a
business
targeting
both
domestic
and
global
markets,
with
a
focus
on
offshore
products.
The
venture
will
leverage
Shanghai
Electric’s
existing
wind-turbine
manufacturing
capacity
and
Siemens’
offshore
technology.
Under
the
agreement,
Shanghai
Electric,
China’s
sixth-largest
turbine
maker,
will
invest
€31m
for
a
51%
stake
in
Siemens
Wind
Power
Turbines
(SWPT),
a
unit
set
up
by
the
German
group
in
Shanghai
last
year.
Siemens
will
invest
€34m
for
the
remaining
stake.
The
business
will
be
renamed
SmartPower
Wind
Turbines
Shanghai…
