The company is one of the international suppliers of smart grids and anticipates that orders for smart grid technologies will reach nearly €1 billion in the current fiscal year.
Siemens claimed that the market being addressed by it will total around €30 billion over the coming five years. The company is aiming at 7% annual growth and a market share of over 20% in the smart grid business.
Smart Grids are suitable for integrating renewable power sources into power networks and for ensuring power supplies from solar and wind energy.
Wolfgang Dehen, CEO of the Siemens Energy Sector, said: “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.
“The Smart Grid market will see increasingly dynamic growth fueled by climate change and economic stimulus programs. We want to grow twice as fast as the overall market.”
Siemens stated that it will strengthen its smart grid portfolio in the field of power data management in the coming fiscal year when it plans to take over a 60% stake in Energy4U on October 1, 2009. This move will expand the company’s portfolio for power utilities in the area of consumption data acquisition and billing.
