German technology group Siemens has stated that it wants to receive orders worth more than €6bn for intelligent power networks over the next five years.
The global electronics and electrical engineering giant which operates in the energy and healthcare sectors and has around 420,000 employees, generated nearly €19bn in fiscal 2008 from its operations in smart grid, about a quarter of the company’s total revenue for this period. Siemens will expand its smart grid portfolio in the field of power data management in the coming fiscal year when it plans to take over a 60 per cent stake in German IT management firm, Energy4U in October 2009.
‘We are already on the optimal course in the smart grids business and will be running at top speed in the future. A new age for power supplies is dawning with smart grids,’ said Wolfgang Dehen, CEO of the Siemens Energy Sector. Siemens anticipates that orders for smart grid technologies will reach nearly €1bn in the current fiscal year. ‘The smart grid market will see increasingly dynamic growth fuelled by climate change and economic stimulus programmes. We want to grow twice as fast as the overall market,’ added Dehen.
via NewNet News – Siemens aims for €6bn smart grid orders by 2014.
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