Business Forum Italy-China: Agreement Between CDP, Ansaldo Energia, and Shanghai Electric

A new long-term strategic partnership to introduce the latest generation of gas turbines in European and Asian markets

Beijing February 22, 2017

CDP Group signed an agreement with leading Chinese mechanical equipment manufacturer Shanghai Electric Corp.  that will strengthen the strategic long-term partnership between the Chinese company and Ansaldo Energia.

The Memorandum of Understanding was signed by CDP Group Chief Executive Officer Fabio Gallia, Ansaldo Energia Chairman Giuseppe Zampini,  and Shanghai Electric Chairman Zheng Jianhua, within the framework of the Italy-China Business Forum, the institutional event dedicated to the dialogue between China and Italy, with the presence of Italian President Sergio Mattarella and People’s Republic of China President Xi Jinping. Ansaldo Energia is 45% owned by CDP Group and 40% by Shanghai Electric.

Continuing the cooperation started with the agreements signed in 2014, Ansaldo and Shanghai Electric will join forces again with an investment sharing plan for the  introduction into the market of the new generation class H gas turbines. The operation will also give Ansaldo full access to rapidly growing Asian markets that represent 50% of the global total.

The partnership between the two companies had recently been celebrated with the opening of the new Ansaldo plant in Cornigliano, Italy, where giant gas turbines made in collaboration with Shanghai Electric are assembled.