Siemens is considering buying out Power Machines' stake in their joint venture Siemens Gas Turbine Technologies (STGT) and then selling 50% to Gazprom Energoholding (GEH). The deal would aim to achieve full localization of gas turbine production for thermal power plant modernization, with GEH as anchor customer.
Siemens, through its subsidiary Siemens Gas Turbine Technologies, signed a land purchase agreement for a 3.8-hectare site in Greenstate Industrial Park, Leningrad Oblast, to build a gas turbine production and service facility. The plant will produce SGT5-2000E and SGT5-4000F turbines, with completion expected by end of 2014. The announcement was made on February 11, 2018 (article date).
Siemens and Power Machines, through their joint venture Siemens Gas Turbine Technologies, supplied and commissioned a new combined-cycle power unit (PGU-420) at Verkhnetagilskaya GRES in Russia, with a total investment of about 20 billion rubles.