Siemens to exit solar and focus on hydro

30 October 2012

‘The importance of renewable energies in the global power mix will continue to grow and hydro power and wind energy will remain the major renewable contributors. Our renewable energy activities will be focused on these two areas,’ said Michael Süß, member of the Managing Board of Siemens AG and CEO of the Energy Sector.

Siemens predicts that energy from renewable sources will account for 28% of the global power mix in 2030. According to company estimates, global power consumption will rise from 22,100TWh to 37,100TWh over the next eight years. Hydro power and wind energy will continue to contribute the largest share of energy from renewable sources.

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