U.S. conglomerate General Electric will create a joint venture with the Russian Direct Investment Fund to build mini power plants across Russia, the parties said Tuesday.
GE has been active in Russia for more than 20 years, supplying medical equipment to hospitals, signaling systems to the rail network and credit through its GE Money Bank.
The mini power plants are low-power co-generation systems producing up to 25 megawatts that are built independently of the federal power grid and therefore without the need for transmission lines.
Industrial growth is driving greater demand for individual power generation systems in Russia.
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