Harbin Electric – one of China’s biggest electrical equipment groups – looks set for a return to the wind turbine sector after taking control of fallen OEM star XEMC Windpower.
Harbin earlier in November concluded a deal with the Hunan provincial government — the current main shareholder of XEMC Windpower — to co-operate over “restructuring” the Chinese turbine manufacturer and wind resource development.
Details of the restructuring have yet to be announced, but several industry sources told Recharge that the Heilongjiang-based electric group intends to acquire 51% of the wind OEM and become its key shareholder.
