Siemens signs strategic cooperation agreement with Chinese utility company

In the presence of the Chinese President Xi Jin Ping and German Chancellor Angela Merkel, Siemens AG, Huaneng Power International, Inc., and Shanghai Electric Group today signed a Memorandum of Understanding in Berlin. Under the agreement, the three parties will strengthen their long-term cooperation in most advanced gas turbine and steam power plant technology, modernization and upgrade of steam turbine units and wind power. "We can look back on a long and successful partnership with China. The strategic agreement with Huaneng Power International is a next step, which further underlines our relationship," said Joe Kaeser, President and CEO of Siemens AG. "Together with our strategic partner Shanghai Electric, we are looking forward to elevating our cooperation with Huaneng to a whole new level." Through the joint efforts, Huaneng aims to further improve efficiency of power generation units, drive energy saving, support clean energy development and achieve sustainability.