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Siemens Invests in India's Renewable Energy Sector

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Siemens, one of the companies with a huge potential in the solar and wind business, infrastructure and industry solutions provider, began operations in the renewable energy field in India by creating an office in Vadodara.

The company started its renewable energy business with 30 people and also wants to add another 70 employees by the beginning of next year. India plans to produce more than 20 gigawatts of solar energy until 2022, as part of the National Solar Mission (NSM). This way, Siemens could have a great development opportunity.

“The market outlook for renewable energies in India is extremely positive and we see a huge potential for the wind and solar business in the near future. With our Vadodara office we will strengthen our activities in this strategic market,” said Siemens Managing Director Armin Bruck.

Currently, the Indian government offers handsome tariffs and cheaper loans to those developers who want to invest in solar energy power plants. Besides this, the government has set up funds to encourage investments in the renewable energy sector.

India will have their first 1000 MW of solar power plants by 2013 and about 500 MW would be concentrated solar power systems.

Now, Siemens has 8,700 wind turbines and a total capacity of more than 11 GW installed throughout the entire world. For the future, the company will provide highly efficient wind turbines with low life-cycle costs to independent power producers and project developers in India.

[Source: CleanTechnica/The Economic Times]

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