Siemens to boost renewable energy activities

Siemens to boost renewable energy activities

Siemens, the German engineering and industrial titan, is planning to exit the nuclear energy business, CEO Peter Löscher told SPIEGEL magazine in an interview. “The chapter is closed for us,” Löscher said. He attributed the decision to the nuclear disaster at Fukushima in Japan and to the German public’s fear of nuclear energy. The company would boost its work

Siemens, the German engineering and industrial titan, is planning to exit the nuclear energy business, CEO Peter Löscher told SPIEGEL magazine in an interview. “The chapter is closed for us,” Löscher said.

He attributed the decision to the nuclear disaster at Fukushima in Japan and to the German public’s fear of nuclear energy.

The company would boost its work in the renewable energy sector. “Germany’s shift towards renewable energies is the project of the century,” he said, adding that he saw Germany on track to hit its target of generating 35 percent of its energy using natural power sources by 2020.

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