Siemens AG has announced plans to re-align its renewable energy businesses into two units, effective Oct. 1. The existing renewable energy division will be split into a wind power division and a combined solar and hydropower division.
‘We're separating solar and wind power because these two markets are at very different stages of development,’ explains Michael Suess, CEO of Siemens' energy group.
Siemens' solar-sector activities include serving as general contractor for large-area PV, owning a minority stake in concentrated PV company Semprius, and offering a range of concentrating solar power products, including receivers. The solar and hydro division will also focus on power-storage issues. A CEO for this group has not yet been appointed.