- Germany edition
- Change edition:
- France |
- Norway |
- Spain |
- Sweden |
- Switzerland
Siemens lets the sun go down on solar power
Published: 22 Oct 12 11:32 CET | Print version
Online: http://www.thelocal.de/money/20121022-45703.html
German engineering giant Siemens is abandoning its solar energy business in favour of wind and hydropower, the company announced in a statement Monday.
- Police raid suspected leftist extremists (22 May 13)
- New in German cinemas: 'Fast & Furious 6' (22 May 13)
- Spain and Germany fight youth employment (22 May 13)
The company will sell Solel Solar Systems, which it acquired in 2009 for $418 million, and the photovoltaic business of its solar and hydro division.
The solar and hydro division generated revenue "in the low triple-digit millions" in the business year ended September 30, 2012, and has "around 800 employees," the company said.
“The global market for solar thermal energy has fallen from four gigawatts to recently a little more than one gigawatt,” said Michael Süß, a member of Siemens’ board of directors and the CEO of its energy sector, in a statement. “In the future, specialized providers will be able to play off their strengths here.”
Siemens CEO Peter Löscher just announced a two-year savings programme, because of weak economic growth, during which all unprofitable enterprises will go under the microscope.
The company is in the midst of talks with interested parties about selling its solar businesses, which will continue operating until a sale is final. Siemens will retain its hydropower business, it confirmed.
DAPD/DPA/AFP/The Local/mbw
What do you think? Leave your comment below.
Spain and Germany fight youth employment
Germany has agreed to provide vocational training and jobs for young Spaniards starved of opportunities in their crisis-hit home country. READ () »
Car boss asks Merkel to rethink CO2 pledge
The president of the German Automobile Association (VDA) has written to Angela Merkel, asking her to retract her pledge to significantly reduce CO2 car emissions by 2025, it was reported on Tuesday. READ () »
SAP to hire hundreds of autistic IT experts
German tech company SAP said on Tuesday it wants to hire hundreds of people with autism to work as software testers and programmers. The search has, it said, begun for people “who think differently from others.” READ () »
Economists warn against German euro exit
While a third of Germans would rather pay with the old Deutsche mark than the euro, economists warn that a German exit from the currency union would result in a disaster. READ () »
Germany cool to France's EU economy plan
Germany said Friday that French President Francois Hollande's proposal for a eurozone economic government was "interesting" but reacted coolly to his call for strengthened European budgetary powers. READ () »
Au pairs rules relax for non-German families
Foreign families will soon be able to officially engage au pairs from outside the European Union, as long as they speak German at home, as the government prepares to change the law. READ () »
Germany refuses to slam French economic policy
Germany will not publicly criticize France over economic policy, German Finance Minister Wolfgang Schäuble insisted on Thursday, amid differences between Berlin and Paris over growth versus austerity in battling the eurozone debt crisis. READ () »
Capri-Sun drink wins false advertising award
A German food industry watchdog singled out drinks-maker Capri-Sun for its annual advertising "award" on Thursday, for what the group described as "shameless" marketing of sugary drinks to children. READ () »
Anaemic economy feels winter chill
The German economy, Europe's biggest, clocked up anaemic growth at the start of 2013 as the freezing winter weather put the brakes on activity, official data showed on Wednesday. READ () »
ThyssenKrupp bins 3,000 admin jobs
German heavy industry giant ThyssenKrupp said on Wednesday it plans to axe 3,000 administrative jobs worldwide as disastrous investments in steel operations overseas tore holes in its balance sheet in the second quarter. READ () »
- 14/05 First ever strike hits Amazon's German unit »
- 14/05 Volkswagen plans giant car plant in China »
- 13/05 Metal workers enter huge warning strikes »
- 13/05 Germany launches new job creation drive »
- 10/05 German giants dazzle Dax »
- 10/05 Netto pioneers mobile phone payments »
- 08/05 Court: gay and straight tax breaks must match »
- 08/05 BMW recalls 22,000 cars over airbag fault »
- 07/05 France tells Germany: we need growth too »
- 07/05 Germany 'lags behind on organic farming' »
See all ads | Join the Marketplace
-
PsyShrink Munich
The Expat Psychologists in Munich, Frankfurt and worldwide -
British Corner Shop
British Corner Shop - The online supermarket for expats -
Chambervelt Rooselain & Cie Ltd.
Insurance and financial planning for English speakers in Germany -
Weiss Institut
Free yourself from Smoking addictions, Sugar craving and Alcohol addictions -
PsyShrink Frankfurt
The Expat Psychologists in Munich, Frankfurt and worldwide -
Shiply Worldwide Ltd
Shiply the Online Transport Market Place
888 jobs available
589 new jobs this week
0 new jobs today
- Pre Development Physicist
- Manager QA Validierung (w/m)
- Origination & Sales Manager
- Payments Specialist (m/f)
- Engineer, Information System Security (m/f)
- IT Technician / Web Developer
- Field Application Engineer / Field Sales Engineer (m/f)
- LED Sales / Marketing (Junior) Manager (m/f)
- Junior Team Assistant / Office Manager (M/F)
- 9914 - Associate Technical Producer
- 22/05 350 jobs lost as Ericsson shuts Swedish factory »
- 22/05 Sweden has 'lower tax burden' than Senegal »
- 21/05 Ericsson probed over suspected bribes »
- 21/05 Warning over 'long-term' Swedish export slump »
- 20/05 'Lean hospital a sign of Swedish welfare reform' »
- 20/05 H&M mulls production in South America and Africa »
- 19/05 Nord Stream plans new gas pipelines »
- 17/05 'Sweden next in line for housing market crash' »
- 17/05 Solna voted best place to live in Sweden »
- 17/05 LinkedIn profile lands Swede with hefty tax bill »
- Food trucks – meals on wheels
Small mobile restaurants are starting to catch on in Germany and they are often far more than your average snack wagons with Currywurst and Pommes. - “Preserve the proven, shape the new” – the International Bach Academy in Stuttgart
For more than thirty years, Helmuth Rilling shaped the international Bach Academy; now he is succeeded by Hans-Christoph Rademann. - ‘Open Mike’ – Fireworks with the Buddha
The Berlin ‘Open Mike’ entered this year its twentieth edition. - On the Stage, the Spoken Word Prevails
In January 2013 the annual meeting of the Dramaturgical Society took place in Munich; its theme: “Speaking on Stage – and about Theatre”... - The Magician of Images – Klaus Ensikat
With the technique of an Old Master and subtle humour, the award-winning graphic designer and illustrator Klaus Ensikat has for fifty years produced ingenious illustrations for literary classics and children’s books....
- Theatre festival between the Saar and the Mosel
The Festival Perspectives in the German-French region around Saarbrücken is staging European theatre, dance and music productions. - The European Year of Citizens
2013 is the European Year of Citizens. - Europe Day, Robert Schuman and Class 4a
Enthusiasm for the idea of Europe – in the 60th European Competition, schoolchildren from Germany show what this could look like. - Relief organizations
The portals presented here provide information on the help programs offered by different organizations.
- Bertelsmann Entrepreneurs Program
- Design Engineer - Turbomachinery
- Design Engineer Aerospace in Toulouse
- Design Feasibility Engineer / Craftsmanship Engineer (m/f)
- HUMAN RESOURCES Graduate Trainee Program BEYOND BORDERS
- Lead Engineer - Combustion Engineering
- Lead Engineer - Product Lifecycle Management
- Lead Stress Engineer - Combustor
- Lead Stress Engineer - Rotor
- Lead Stress Engineer - Structures
- 19/05 Car Boot Sale Herford
- 17/05 paid internship
- 17/05 Florida resident seeks job in baden Baden Germany
- 17/05 Berlin Writing Group
- 17/05 cheap car hire
- 15/05 Queen size bed & frame
- 01:15 Chinese and Hong Kong nationals in Munich
- 00:49 Interest in opening a bar/grill in HH
- 00:47 Time required to find an apartment in Stuttgart
- 00:30 What do you like about the German public schools?
- 00:30 M-Net not switched on due to Telekom delay
- 00:27 Festsetzung clarification - Gewinnermittlung?
- 00:11 Problems getting mail sent from the US
- 23:59 Where to find Goo Gone
- 23:51 Quo vadis, France?
- 23:50 Help for Dyslexia in School
Start trading shares, equities, forex, etc. No commission on equities; Low min. margins. Apply for a CFDs account now!
'Charming, old, beamed cottage for holiday let in Jesus Pobre, Alicante, Spain
www.littlehouseinspain.com/
Professional and qualified consultancy on all insurance and finance matters in Germany, Telephone: +49 2163 571 1740, Email: bg@albatross-assurance.com
www.albatross-assurance.com
Visiting Berlin anytime soon? Book your hotel in Berlin here.
For home-from-home holiday accommodation, search for a Berlin apartment to rent.
Your comments about this article:
1. Evergreen Solar ($25 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($43 million)*
5. Nevada Geothermal ($98.5 million)
6. SunPower ($1.2 billion)
7. First Solar ($1.46 billion)
8. Babcock and Brown ($178 million)
9. EnerDel¦#39;s subsidiary Ener1 ($118.5 million)*
10. Amonix ($5.9 million)
11. Fisker Automotive ($529 million)
12. Abound Solar ($400 million)*
13. A123 Systems ($279 million)*
14. Willard and Kelsey Solar Group ($700,981)*
15. Johnson Controls ($299 million)
16. Schneider Electric ($86 million)
17. Brightsource ($1.6 billion)
18. ECOtality ($126.2 million)
19. Raser Technologies ($33 million)*
20. Energy Conversion Devices ($13.3 million)*
21. Mountain Plaza, Inc. ($2 million)*
22. Olsen¦#39;s Crop Service and Olsen¦#39;s Mills Acquisition Company ($10 million)*
23. Range Fuels ($80 million)*
24. Thompson River Power ($6.5 million)*
25. Stirling Energy Systems ($7 million)*
26. Azure Dynamics ($5.4 million)*
27. GreenVolts ($500,000)
28. Vestas ($50 million)
29. LG Chem¦#39;s subsidiary Compact Power ($151 million)
30. Nordic Windpower ($16 million)*
31. Navistar ($39 million)
32. Satcon ($3 million)*
33. Konarka Technologies Inc. ($20 million)*
34. Mascoma Corp. ($100 million)
http://www.dailymail.co.uk/news/article-1345233/Its-use-waiting-turbines-warm-snow-returns.html?openGraphAuthor=%2Fhome%2Fsearch.html%3Fs%3D%26authornamef%3DDavid%2BDerbyshire%2BEnvironment%2BEditor
Global warming is a myth and is being used as an extra way to tax the public:
http://www.dailymail.co.uk/sciencetech/article-2217286/Global-warming-stopped-16-years-ago-reveals-Met-Office-report-quietly-released--chart-prove-it.html
Siemens selling the solar division because it makes little or no profit may be linked to Chinese companies dumping (backed by the Chinese gov): http://www.bloomberg.com/news/2012-09-21/european-solar-lobby-says-china-talks-should-wait-for-eu-finding.html
Preventing climate change isn't the primary motivation for diversifying energy sources. ( Recent climate change has already happened, whether it had anything to do with man made C02 is unproven ). The primary motivation for these failed green companies and the extra taxes is to try and diversify the energy supply in advance of the expected decline in oil. We have taken out Iraq, Afghanistan and Libya in the last decade. Syria is underway and sadly Iran are also under the crosshairs. All of this may buy the west another decade of unbridled consumption. The cost of the oil wars pails the investment in green-tech into insignificance. So keep some perspective.
You obviously don't pay your own power bills.
The extra expense that people pay to fund this green fantasy means you have that much less money left to buy other things, making your country less competitive in the market and people poorer.
Outside of higher costs, a less reliable grid and lower competitiveness, it's great!