Siemens plans to divest its solar business activities and is currently holding talks with potential buyers on this subject. Siemens intends to focus its renewable energy activities on wind and hydro power. As part of this reorganization, the Energy Sector will be slimmed down and the Solar & Hydro Division will be discontinued. Strengthening the company’s focus on core activities is one of the five main points of the new company program 2014, the broad outline of which was recently announced to the public.
Due to the changed framework conditions, lower growth and strong price pressure in the solar markets, the company’s expectations for its solar energy activities have not been met. “The global market for concentrated solar power has shrunk from four gigawatts to slightly more than one gigawatt today. In this environment, specialized companies will be able to maximize their strengths,” said Michael Süß, member of the Managing Board of Siemens AG and CEO of the Energy Sector. Siemens also intends to part with the photovoltaic activities of the Solar & Hydro Division. Siemens is holding talks with interested parties on selling these activities. Siemens will continue to offer suitable products for solar thermal a