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Intelligent power networks flying high, reaching billions of euros worth, Siemens says

German technology group Siemens has stated that it wants to receive orders worth more than €6bn for intelligent power networks over the next five years.

The global electronics and electrical engineering giant which operates in the energy and healthcare sectors and has around 420,000 employees, generated nearly €19bn in fiscal 2008 from its operations in smart grid, about a quarter of the company’s total revenue for this period. Siemens will expand its smart grid portfolio in the field of power data management in the coming fiscal year when it plans to take over a 60 per cent stake in German IT management firm, Energy4U in October 2009.

‘We are already on the optimal course in the smart grids business and will be running at top speed in the future. A new age for power supplies is dawning with smart grids,’ said Wolfgang Dehen, CEO of the Siemens Energy Sector. Siemens anticipates that orders for smart grid technologies will reach nearly €1bn in the current fiscal year. ‘The smart grid market will see increasingly dynamic growth fuelled by climate change and economic stimulus programmes. We want to grow twice as fast as the overall market,’ added Dehen.

The market being addressed by Siemens totals around €30bn over the coming five years. Siemens is aiming at seven per cent annual growth and a market share of over 20 per cent in the smart grid business.

‘The world needs intelligent power grids in order to meet the growing demand for energy in a way that is eco-friendly and reliable. We estimate that the demand for electricity will double by 2030, due to trends like e-mobility, which is just emerging,’ added Dehen.

According to the company, smart grids are included in many of the economic stimulus programmes throughout the world. The US government alone intends to invest around €3bn in smart grids in the coming years. The company expects to receive orders worth around €15bn from these programmes by 2012. Forty per cent of these orders, or a volume of roughly €6bn, is expected to be for green technologies from the Siemens Environmental Portfolio.

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This entry was posted on September 29, 2009 by in News, Technology and tagged , , .
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