JSC RusHydro, together with Siemens and the Russian Technologies State Corporation, have entered into a trilateral partnership agreement calling for strategic cooperation in the manufacturing and sale of industrial products based on renewable energy sources. Evgeny Dod, Chairman of the Management Board of JSC RusHydro; Peter Löscher, CEO of Siemens AG; and Sergey Chemezov, Director General of the Russian Technologies State Corporation signed the document during the twelfth round of the Russian-German, inter-governmental meetings, which are taking place on July 14-15 in Yekaterinburg,

The agreement foresees the creation of a joint venture and other forms of cooperation in the field of wind power. The joint venture will undertake to create facilities for manufacturing and assembling components for wind turbines, targeting the Russian market, and will be responsible for the sale and maintenance of Siemens wind turbines in Russia and a number of other countries.

With the view to implementing the initiatives outlined in the agreement, the following distribution of responsibilities is envisioned: JSC RusHydro will design and construct ready-to-operate wind farms; the Russian Technologies State Corporation will supervise matters related to components; Siemens plans to contribute intellectual property in the area of wind power, organize the training of personnel, and create a consulting service on the operational use of wind power plants by the joint venture. In future, the parties plan to consider consolidating these responsibilities.

Siemens is the world leader in electronics and electrical engineering. The Company is particularly active in such areas as power, industry and public health services. Siemens is the world’s largest supplier of environmentally friendly technologies.

The Russian Technologies State Corporation assists Russian organizations-developers (preceding word combination makes no sense. I would use only «developers») and manufacturers of high technology industrial products in their development, production and exports by providing support in domestic and foreign markets and attracting investments to various industries.