General Electric (NYSE: GE) announced this week that it will create a joint venture with Russia’s state-funded private equity vehicle to build mini power cogeneration plants across Russia.

The mini power plants are low-power co-generation systems producing up to 25 MW that are build 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. The project will focus on providing electricity to manufacturing plants and infrastructure projects in the Russian regions.

GE and the Russian Direct Investment Fund said they would sign a memorandum of understanding to create the venture on Friday at the St Petersburg International Economic Forum later this week.

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