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SIEMENS to exit nuclear power business

by Miriam Eisermann on 23 septembre 2011 / 126 visites

The German industrial group Siemens is to quit the nuclear industry. That is what has announced its Chief Executive Peter Löscher beginning of the week. This decision follows the Fukushima nuclear catastrophe and the subsequent reaction of the German federal government to phase out nuclear energy by 2022.

Siemens will abandon business related to the management of the construction of nuclear power stations or to their financing. However, it will remain one of the largest steam turbine producers.

In line with the German policy objective to reach a share of renewables of 35% by 2020, SIEMENS wants to expand its activities in the field of renewable energy with the aim to become a world giant in this area.






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