Siemens is gearing up for further growth in renewables. Effective Oct. 1, 2011, the company plans to realign its renewables business into two independent units. The existing Renewable Energy division will be divided into two new divisions: Wind Power and Solar & Hydro.

“We're separating solar and wind power because these two markets are at very different stages of development,” said Michael Suess, CEO of the Siemens Energy Sector. “In the new unit Solar & Hydro, we'll be moving forward with research and development in the field of solar power to further increase our competitiveness. In our established wind power business, we'll be forging ahead with industrialization and internationalization. Germany, the rest of Europe and the whole world need power storage systems for the integration of renewables. Our Solar & Hydro division will, therefore, also be handling the strategic issue of power storage.”

Since 2004, Siemens' wind power business has posted rapid growth. In the meantime, the workforce has increased approximately 10 times over, from 800 to approximately 7,700, and revenue has even risen by a factor of 12 to approximately 3.2 billion euros. In the future, the industrialization of manufacturing and logistics with a view to reducing power generation costs through high-efficiency production will play a decisive role in the wind power business. Particular importance will be attached to regionalization in order to enhance customer intimacy. Therefore, in the future, Siemens will be conducting its wind energy business below division level from three regional business units located in the United States, Asia and Europe.

Siemens will bundle its solar and hydro power activities. In this field, Siemens acts as general contractor for large-area photovoltaic installations in the megawatt capacity range. Only recently, the company also acquired a minority stake in Semprius, a developer of high concentrating photovoltaic modules.

In the field of solar thermal power, the range of products offered extends from components such as solar receivers and solar fields to complete solar thermal power plants. In addition to business with small hydro power plants, the new division will also encompass the Siemens stakes in Voith Hydro (35%), one of the leading vendors in the hydro sector, and in Marine Current Turbines (approximately 10%), a pioneer in tidal current energy turbines. The new unit also will be a center of competence for the development of power storage technologies.

For more information, visit www.siemens.com/energy.