Finland-based Moventas, a wind power transmission equipment manufacturer, has inked a cooperative agreement with Dongfang New Energy Equipment, a subsidiary of state-owned China Dongfang Electric Corp to jointly engage in research and development on 3-megawatt wind turbines.
The first model machine of this kind will be produced in December 2010.
Jukka Jäämaa, CEO of Moventas, said that the firm has clear expansion plan for the Asian market, especially for China, and the cooperation with Dongfang New Energy Equipment is a crucial step for its further development.
Moventas, which is mostly held by IK Investment Partners, reaped EUR 382 million in 2008.
China Dongfang Electric Corp, the parent of Dongfang Electric Corp Ltd, has subsidiaries principally in Sichuan Province, Guangdong Province, Zhejiang Province, Henan Province, Hubei Province and Tianjin.
