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Siemens Energy is negotiating to buy out Power Machines' stake in their joint venture Siemens Technologies Gas Turbines (STGT), with several companies including Gazprom Energoholding interested in acquiring a 5-7% stake.
Siemens announced plans to increase localization of gas turbine production in Russia to 100% by 2024-2025, up from 62% currently, through its joint venture Siemens Gas Turbine Technologies in the Leningrad Region.
The joint venture Siemens Technologies Gas Turbines (STGT) is working with Silovye Mashiny on the possibility of 100% localization of Siemens gas turbine production in Russia for thermal power plants.