Rio de Janeiro: Brazil's WEG has signed a memorandum of understanding with Spain's Grupo M Torres Olvega Industrial to create a joint venture for construction and installation of wind turbines, plus operation and maintenance services. The groups also signed a technology-transfer accord for the joint venture, which will be a 50-50 partnership for development in Brazil.
"This partnership, beyond allowing us to participate more directly in the business of wind- energy generation, gives us the agility to attend to the growing demand of the national market," says Harry Schmelzer, president of WEG.
