Siemens is constructing an offshore wind turbine production site in England with more than $261 million in investments, Smartmeters reported Sunday.
The company will manufacture 6-megawatt class rotor blades for offshore wind turbines at theÂ production facilities, according to the report.
Michael Suess, Siemens managing board member and CEO of the energy sector, said the investment is part of Siemensâ strategy to âinvest in markets with reliable conditions.â
The U.K. has seen an increase in wind power capacity to nearly 10 gigawatts over the past two years, the report says.
Siemens has also inked a memorandum of understanding with Huaneng Power International and Shanghai Electric Group to modernize steam turbine units and wind power technologies in China, Smartmeters reports.