Siemens Ltd. (SIEMENS.NS) has begun operations of a renewable energy division, in India, based in Vadodara, Gujarat.
Siemens Ltd., in which Siemens AG (NYSE: SI) holds 55.18% of the capital, is the
flagship listed company of Siemens AG in India.
The renewable energy division already has 30 employees on board and will ramp up the number of employees to 100 within one year, the company said.
“The market outlook for renewable energies in India is extremely positive and we see huge potential for the wind and solar business in the near future”, said Dr. Armin Bruck, Managing Director, Siemens Ltd. “Setting up of the Vadodara office marks our foray into the Solar & wind business in India and with this initiative, we will be able to strengthen our activities in this important market,” he further added.
India has one of the most ambitious solar energy development plans in the world: The country is looking to generate up to 20 gigawatts (GW) of solar power by the year 2022 as part of the National Solar Mission (NSM). This presents a great opportunity for Siemens since it has experience in Concentrated Solar Power (CSP) and Solar Photovoltaic (PV) business globally.
In CSP, Siemens has the parabolic trough technology, which is the most commercially established technology in the world with over 80% of solar thermal plants across the world using it. Also, acquisition of Solel Solar Systems adds to Siemens experience in the area of vacuum-based receiver tubes.
For solar thermal power plants, Siemens can supply individual components like solar receiver or steam turbines, entire systems such as the solar field or the power block or turnkey solutions for parabolic trough power plants. As general contractor for photovoltaic plants, Siemens takes responsibility for individual planning, delivery and installation of all the necessary components.
The Indian wind market is well established. With its generation based incentives (GBI) the Indian government is further supporting the growth of wind power in the country and the market is expected to grow by 2 GW annually. With more than 8,700 wind turbines and a total capacity of more than 11 GW installed worldwide, Siemens will focus on providing wind turbines to project developers and independent power producers in India.
Siemens has a long history in India and a strong local footprint with over 21 factories throughout the country. Siemens announced a wind turbine manufacturing site in India earlier this year and the factory is expected to be established by 2012.
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