Siemens aims to be in top 3 in wind power by 2012

The company has been hit hard by the recession and weaker demand for industrial products but its energy business was last year's star performer.

German conglomerate Siemens, the world's market leader in offshore wind turbines , is aiming to become one of the top three suppliers to the wind power market by 2012, the head of its Wind Power unit said.

"The global wind power market will grow from about 30 billion euros ($44.43 billion) annually today to more than 200 billion euros by 2030. We anticipate especially robust growth in the Asia-Pacific region," Siemens Wind Power CEO Andreas Nauen told reporters Wednesday.

"The market growth in North America and Europe, however, will also be significant," he added.

Siemens, a bellwether of euro zone's biggest economy, has been hit hard by the recession and weaker demand for industrial products but its energy business was last year's star performer as appetite for renewables cushioned a fall in group new orders.

Siemens has said its goal of generating 25 billion euros of sales from its "green" technologies in 2011 is a conservative estimate, with growth drivers from government stimulus programs worldwide.

New orders at its renewables division rose 146 percent to 786 million euros in the fourth quarter to September 2009, while revenue rose 5 percent to 661 million euros, benefiting from an order backlog in Europe, the Middle East and the Americas.

Siemens is the offshore market leader in terms of installed capacity--currently 10,000 megawatts--and the sixth-biggest supplier to the wind market behind Denmark's Vestas, General Electric, Spain's Gamesa, Germany's Enercon and India's Suzlon.

European Union countries have to present detailed plans on how to reach renewable targets for 2010, with wind energy expected to see a surge in investment, according to the European Wind Energy Association.

Nauen said Siemens intends to increase its wind power activities "significantly" in Europe, particularly in Scandinavia and Britain.

He said for 2009 he expected Siemens' market position to have reached the fifth-largest from being the sixth in 2008.

 

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