Siemens AG and State Power Investment Corporation Limited (SPIC) signed a comprehensive Strategic Partnership Framework Agreement (SPFA). This follows a Technology Collaboration agreement on heavy-duty gas turbines between Siemens AG and China United Heavy-duty Gas Turbine Company (UGTC).
The SPFA was signed by Qian Zhimin, Chairman of SPIC and Joe Kaeser, President and Chief Executive Officer of Siemens AG on March 26, 2019 in Beijing.
The SPFA will further expand the cooperation in power generation in addition to the earlier agreed technology collaboration between Siemens AG and UGTC and will create a China-based supplier eco-system. Both companies will also collaborate in high-technology product demonstration e.g. in the field of digitalization of power plants or in hydrogen utilization projects and smart energy management for a decentralized energy system.
Furthermore, both parties agreed to cooperate in project execution, and will jointly develop proper Gas-to-Power projects worldwide.