The Russian state-owned holding company Rosseti signed a cooperation agreement with the Chinese equipment manufacturer XD China Group at the St. Petersburg International Economic Forum on Thursday.

“The agreement envisages the localization of electric power engineering equipment manufacturing in Russia”, a Rosseti press release said.

The agreement provides for domestic development, certification and implementation of equipment, as well as design and construction of new power facilities, the press release added.

The holding company, which encompasses Russia’s distribution and trunk power grids, is planning to use the Chinese manufacturer’s equipment to reconstruct and upgrade its grids.

XD China must expand the list of products to be manufactured in Russia and also seek “alternative sources of investment” for the construction of power facilities in Russia.

The Russian holding company had agreed earlier with another Chinese corporation, the state-owned power grid company SGCC, on establishing a joint venture to carry out projects in Russia with up to $1 billion in annual financing to be provided by the shareholders and Russian and Chinese financial institutions.

Rosseti and SGCC had not ruled out the creation of an electric power engineering equipment manufacturing facility in Russia using both Russian and Chinese technology.

17 June 2015
1 000.0 mln

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Contact: Zhang Yalin, General Manager of XD China Group and President of XD Electric China

China’s largest manufacturer of power grid equipment