Japanese Toshiba Corporation and the US General Electric Company have announced to expand the strategic cooperation in the field of thermal power equipment, planning to set up a joint venture to develop and sell high-tech thermal power equipment.
It’s another integrated action after Mitsubishi Heavy Industries and Hitachi announced the merger in thermal power business in November last year.
According to the statement, Toshiba and GE strategic cooperation will focus on energy-saving, high efficiency gas - steam combined cycle power generation equipment R & D and Sales. General Electric occupies about 35% of the global market share in the field of thermal power core equipment--gas generator, and Toshiba is leader in the field of steam generator, power plant construction, and system control technologies.
According to a forecast of Economic Cooperation and Development (OECD), in 2035, the global power generation equipment investment will be about 850 trillion yen (about U.S. $ 9.5 trillion), of which thermal power installed capacity will increase by 70% over 2009.