‘What’s Next’ for Siemens Energy?
The post ‘What’s Next’ for Siemens Energy? appeared first on POWER Magazine.
Everyone in the power industry is familiar with Siemens Energy. Its technology is behind about one-sixth of the world’s power generation, and even a larger portion than that in the U.S.—roughly a third.
Yet, Siemens Energy as currently organized is a fairly new entity. The company was spun off from Siemens AG and began trading on the Frankfurt stock exchange on Sept. 28, 2020. When the spin-off was approved by Siemens shareholders in July that year, Joe Kaeser, president and CEO of Siemens AG, said, “The spin-off enables us to build two focused companies, both of which will be strong players in their respective sectors.”
Rich Voorberg, Siemens Energy’s president of North America, during a media call on Sept. 13 with three reporters including POWER, said, “We are a pure play energy company. So, what that means is we go from one end to the other.” He started with the company’s generation offerings, which include gas and steam turbines, generators, gas engines, distributed control systems, wind turbines, small hydro, and more, then mentioned industrial applications, and finally transmission systems that deliver electricity to end-users.…
