GE's gas turbine company received $580 million investment from Russian partners

China-News.Net - Finance October 1, 2020, 2:32 am Xu Ning

Zhitong finance app learned that as the Russian market began to modernize a quarter of its thermal power capacity, Russian state energy holding company interrao plans to invest as much as 45 billion rubles (about 580 million US dollars) in its gas turbine joint venture with General Electric (GE. US).

Although Russia has not yet produced its own medium and large capacity gas turbines, the government hopes to produce such power equipment locally.

By 2025-2026, the joint venture will produce gas turbines with capacity of 79-87 MW and 181-210 MW, of which at least 90% will be produced in Russia. Inter Rao believes that demand will rise further after 2030.

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