Fairfield-based GE has entered into a joint venture (JV) with Russian holding company Inter RAO UES and United Engine Corp. (UEC) to boost development of electricity generation in Russia. The energy venture will manufacture, assemble, sell and service energy-efficient heavy-duty gas-fired power generation turbines. GE will own 50 percent of the venture. Inter RAO and UEC will each hold a 25 percent stake in the JV, which will assemble products in the country using components from GE international facilities and will source parts from qualified Russian suppliers as per GE’s specifications. The project will be funded by the participants and potentially other resources.

Click here for the release from Business Wire.