Siemens starts renewable energy business in India

"The market outlook for renewable energies in India is extremely positive and we see a huge potential for the wind and solar business in the near future. With our Vadodara office we will strengthen our activities in this strategic market," Siemens Managing Director Armin Bruck said in a statement here today.

The firm has already employed 30 people and plans to ramp up the number to 100 within the first year of operation. India is set to generate up to 20 gigawatts (GW) of solar power by 2022 as part of the National Solar Mission (NSM) thus presenting a huge opportunity for Siemens, he said.

The company has wide experience in Concentrated Solar Power (CSP) and Solar Photovoltaic (PV) business globally. In CSP, it has parabolic trough technology, the most commercially established tool in the world with over 80 per cent of solar thermal plants across the world using it, the statement said.

With over 8,700 wind turbines and a total capacity of more than 11 GW installed worldwide, Siemens will focus on providing high efficient wind turbines with low life-cycle costs to project developers and independent power producers in India, it said. The company plans to start wind turbine manufacturing by 2012.