Wind, solar and hydro divisions split at Siemens

Siemens (NYSE: SI) will realign its Renewable Energy Division into two independent units: Wind and Solar & Hydro, effective October 1.

Dr. Felix Ferlemann, current head of the Chassis Systems Division of Benteler Automotive, will be named CEO of the Wind Power division. A CEO to head the Solar & Hydro division has not yet been named.

Siemens Energy Sector CEO Michael Suess said in a statement that the split has come because the sources are at different stages of development.

To further reduce wind-based power generating costs, the company will focus on new products and industrialized manufacturing and logistics. The company is planning further production facilities in Canada, the United Kingdom, India, Russia and Brazil.

In the Solar & Hydro division, Siemens will act as general contractor for large-area photovoltaic (PV) installations in the range of 1 MW. The company also acquired a minority stake in Semprius, a developer of high concentrating PV modules. In addition to business with small hydro power plants, the new division will also encompass the 35 percent stake Siemens owns in Voith Hydro and its 10 percent stake in Marine Current Turbines. The new unit will also be a center for the development of power storage technologies.

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