Rene Umlauft News
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A unit of Volkswagen AG-controlled MAN SE has won a contract to build a diesel- and steam-driven power station in Kenya with a capacity of almost 95 megawatts.
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Siemens AG expects Europe to add 70,000 megawatt in production capacity from offshore windfarms within the next 10 to 15 years, Financial Times Deutschland reported today, citing an interview with Rene Umlauft, head of the company’s renewable energy unit.
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Siemens AG, Europe’s largest engineering company, plans to raise spending on research and development to 4.5 billion euros ($6.2 billion) in 2011 as it pours more money into its range of energy-saving equipment.
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Siemens AG is betting it can sell an unproven wind turbine that uses rare-earth metals from China to cement its lead over Vestas Wind Systems A/S in an offshore power market that’s forecast to be worth $50 billion by 2020.
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Siemens AG , Europe’s largest engineering company, will add at least 2,000 jobs at its renewable-energy division this year, as the business expands to meet rising demand for clean energy.
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Siemens AG ’s renewable-energy unit faces margin pressure on increasing competition and slowing demand, Financial Times Deutschland reported, citing Rene Umlauft, head of the division.
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Siemens AG , Europe’s largest engineering company, anticipated growth will slow in the second half and said earnings in the quarter that just ended were burdened by a “disappointing” renewable energy division.
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