Siemens to exit solar sector,

Solar energy news - Technology giant Siemens to exit solar, looks for buyers

newenergyworldnetwork.com 22 Oct '12, 9am

Siemens to exit solar sector,

Technology giant Siemens to exit solar, looks for buyers 22 Oct 2012 German technology giant Siemens is planning to exit the solar sector and focus its renewable energy division on wind power. The company said it is already in discussions with potential buyers of its solar operations. It will continue to produce solar thermal and photovoltaic (PV) equipment, until a deal is reached, to ensure existing contractual obligations are satisfied. Siemens said the move was a reflection of changed framework conditions, lower growth and strong price pressure in the market, all meaning the company’s solar objectives have not been achieved. Michael Süß, member of the management board and CEO of Siemens’ energy division, said, ‘The global market for concentrated solar power has shrunk from four gigawatts to slightly more than one gigawatt today. In this environment, specialised compani...

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@NormanEnviro » 22 Oct '12, 9am
Technology giant Siemens to exit solar, looks for buyers: German technology giant Siemens is planning to exit th... [link]
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Siemens to exit solar sector, [link]
@HakimHammach » 22 Oct '12, 9am
Technology giant Siemens to exit solar, looks for buyers: German technology giant Siemens is planning to exit th... [link]