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Power/Alternative Energy  

Xantrex teams up with SPTD on 'green' electronics facility

Posted: 21 Mar 2007     Print Version  Bookmark and Share

Keywords:Xantrex  Shanghai Power Transmission & Distribution  SPTD  Shanghai Electric Xantrex Power Electronics  solar cell 

Xantrex Technology Inc. and Shanghai Power Transmission & Distribution Co. Ltd (SPTD), a member of Shanghai Electric Group, will form a joint venture—Shanghai Electric Xantrex Power Electronics Co. Ltd—aimed to service China's renewable energy market.

To be located in Shanghai, the joint venture will design, manufacture and sell solar and wind power electronics products exclusively for China. Xantrex will own 49 per cent of the joint venture while SPTD will hold the remaining 51 per cent. It will be subject for final approval from the Chinese government in the following weeks.

Both partner companies are tying their long-term plans on China's renewable energy market "which has the potential to be very large" based on China's new Renewable Energy law that requires 15 per cent of the country's energy mix to be from renewable energy sources by 2020.

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