Tuesday, September 20, 2011

Siemens Calls it Quits with Nukes

According to Bloomberg News: Siemens AG will not be returning to the nuclear power industry.
This statement was made by Siemens CEO Peter Loescher during an interview with Der Spiegal.
Siemens, which was has built some of the largest reactors in the world has been slowly retreating from that industry over the last few years. Now that both German and Europe's attitude regarding nuclear plants have changed, Siemens viewpoint is that it's time to "close that chapter" in that business sector.
They have sold their stake in that field to French owned Areva S.A.
They will remain, however, in the design and manufacturing of steam turbines that can be used in coal-fired or nuclear power plants (did someone say E-cat?)
Siemens has been in business for over 150 years and employs more than 3300 people world-wide. The energy division of Siemens generates their second largest revenue source of more that $9.34 billion.
Lately they have been active in renewable energy with wind turbines that are used in wind farms from the Sahara to California. They have an installed capacity of over  9 gigawatts. Their largest wind turbine generates 2.3 megawatts and has a rotor blade diameter of over 330 feet.
They are also active in solar-thermal energy generators that uses a liquid salt medium.

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