Scotland’s Aggreko has formed a joint venture company with China’s Shanghai Yude to supply backup power equipment in Shanghai.
Aggreko, the Glasgow-based temporary power equipment supplier, will have a 21.5% stake in the joint venture— Shanghai Yude Aggreko Energy Equipment Rental Company— which started trading on 19 January.
Shanghai Yude, a power rental business, will manage operations at the joint venture (pictured), Aggreko said. The new firm “will initially provide power generation equipment in Shanghai, with scope to provide loadbank equipment and services as demand increases”.
Aggreko’s managing director for power solutions Stephen Beynon said: “This mutually-beneficial partnership with Shanghai Yude means we can bring reliable power and joint expertise to a rapidly growing market.”
“The UK and China have strong commercial ties that go way back, and we are delighted to be able to work with a local partner that has extensive local experience and expertise,” Beynon said.
Aggreko, which has been operating in China since 2008, has a depot and offices in Shanghai, which the company said will be one of two facilities supporting the new company.
Yude was established in Shanghai in 2005 and has 45 employees. The company currently has more than 40MW of power generating capacity and supports local industries, including events and construction.