• Siemens to list power business in September 2020

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    • Post Author

      Patrick Lavery

      Combustion Industry News Editor

Siemens has confirmed that it is to list its power division as a separate company, the division’s current head told reporters last week. The new company, to be created in September 2020, will consist of all of Siemens’ oil and gas business, as well as power generation and renewable energy and transmission assets. As such, it seems Siemens is not aiming for a separation between renewables and fossil-fired power generation as E.ON did when it created Uniper from its fossil-fired power generation business, or as RWE did in the reverse way when Innogy was split off as a renewables-focused business. That Siemens is splitting off all power-related business is therefore an interesting strategic decision, perhaps a sign that it sees renewables and combustion as complementary. While sales of traditional power generation equipment has been relatively muted recently, there are a number of major projects upcoming, with second stage of its long-term Iraqi power project coming up, and projects in Saudi Arabia, the UAE, Bahrain and Oman also on the cards.