22 Oct '12, 10am

#Siemens to focus its #renewable #energy activities on #wind and #hydro #power - Exit from #solar business planned:

#Siemens to focus its #renewable #energy activities on #wind and #hydro #power - Exit from #solar business planned:

The importance of energy from renewable sources is growing throughout the world. Siemens predicts that energy from renewable sources will account for 28 percent of the global power mix in 2030. According to Siemens' estimates, global power consumption will rise from 22,100 terawatt-hours (TWh) to 37,100 TWh in 2030. Hydro power and wind energy will continue to contribute the largest share of energy from renewable sources. Due to the changed framework conditions, lower growth and strong price pressure in the solar markets, the company's expectations for its solar energy activities have not been met. "The global market for concentrated solar power has shrunk from four gigawatts to slightly more than one gigawatt today. In this environment, specialized companies will be able to maximize their strengths," said Michael Süß, member of the Managing Board of Siemens AG and CEO of ...

Full article: http://www.siemens.com/press/en/pressrelease/2012/energy/...

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