Siemens Blindsided by China Wind Boom Plans ‘Massive' Investment

Siemens AG (SIE), the world’s largest maker of offshore wind turbines, said it underestimated the pace of growth in the Chinese wind market and will ramp up spending to catch up as local competitors increase their lead.

“We’re investing massively in research and development and to make use of economies of scale in production,” Felix Ferlemann, head of Siemens’s wind-power business, said in response to e-mailed questions. “We were somewhat taken by surprise by the strong growth of the Chinese market.”

China led the world in installing wind-power capacity last year. Munich-based Siemens is working to keep pace in the country, where it’s lagging behind suppliers such as Vestas Wind Systems A/S (VWS), while competition puts pressure on prices. Profitability at Siemens’s renewable-energy unit was wiped out last year, calling into question Chief Executive Officer Peter Loescher’s strategy of focusing more on green technologies.

Read Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

The Zilla® Phantom  - Rail-less solar mounting system

The Zilla® Phantom - Rail-less solar mounting system

The Zilla® Phantom is a revolutionary new rail-less solar mounting system. Building on the popular Zilla® Double Stud Flashing, the Phantom can mount anywhere on composite roofs, not just on joists. Additionally, the Zilla® Phantom streamlines distribution and transportation allowing for a safer, easier and more economical solar installation. The Phantom is a fully flashed and grounded system and includes everything necessary to complete a rooftop solar installation. The Zilla® Phantom affords unparalleled layout flexibility and field adjustability that simplify every step of the installation process. Visit to learn more.