Over the past decade, with the emphasis on global warming, climate change and the recent global financial crisis, wind-power generation systems have come up as means to expand renewable energy deployment.
The Timken Company and Xinjiang Goldwind Science & Technology Co., Ltd. have shaken hands to advance wind energy deployments. Both the companies have signed long-term strategic partnership to work together on a different technical services, products and aftermarket support for the development, supply and maintenance of advanced wind turbine components and systems.
The executives of Goldwind and Timken believe that this memorandum will help both companies to develop sustainable wind energy projects to strengthen the global balance of green power generation. Prior to this partnership, both the companies have started their collaboration on wind turbines of 1.5 megawatts. In year 2010both the companies signed an agreement valued at US$26 million supporting the development of additional, multi-megawatt projects.
Cao Zhigang, executive vice president of Goldwind, “We are very pleased to extend our collaboration with Timken and look forward to working together to advance the development of wind energy technologies around the world.”
According to a press release, this agreement extends and broadens the existing relationship between the two companies, with possibilities of multiply significantly their current collaboration. Timken will develop additional capacity in China and at its other facilities devoted on wind energy technology to support Goldwind's expansion globally.
It shows the highest level of collaboration between the companies, including the following Timken capabilities: original-equipment design and engineering services, testing at Timken's new Wind Energy Research and Development Center scheduled to open in 2012, supply of bearings and adjacent power transmission components, integrated supply-chain management and wind-farm sustainability services, optimization of wind-turbine installations and field services and aftermarket lifecycle support for Goldwind's growing installed base
Timken has continuously expanded its capabilities over the past decade to serve the sector, which is the company's fastest-growing business. Christopher Coughlin, president of Process Industries at Timken said that this collaboration with Goldwind demonstrates mutual value and appreciation of the respective capabilities we bring to advance windpower development.
In other company news, TMCnet reported that SmarTrend identified an Uptrend for Timken (NYSE:TKR) on March 21, 2011 at $49.45.Mandira Srivastava is a TMCnet contributor. She works as a full-time writer, ghostwriter and blogger, and has more than two years of experience in print and Web media. She has also worked on company brochures, website content and product descriptions, as well as proofreading and editing content. To read more of her articles, please visit her columnist page.
Edited by Rich Steeves