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Xantrex, SPTD partner 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 ventureShanghai Electric Xantrex Power Electronics Co. Ltdaimed 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 percent of the joint venture while SPTD will hold the remaining 51 percent. 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 percent of the country's energy mix to be from renewable energy sources by 2020.

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