German power giant Siemens has announced a complete withdrawal from nuclear power activities. The worldwide corporation cited the social and political change going on in Germany right now as a major factor in their change of business strategy. Siemens also cited the Fukushima disaster as a motivating factor in their business decision. Since the Fukushima disaster Germany decided to abolish all nuclear power plants over the next decade and put all efforts into alternative energy. Siemens ended a contract with Russia’s Rosatom to build nuclear power plants and earlier ended a nuclear contract with Areva that cost them a considerable sum in penalties.
“We will no longer be involved in overall managing of building or financing nuclear plants. This chapter is closed for us,” he said, explaining that Siemens would restrict its activity to double-use technology.
“We will from now on supply only conventional equipment such as steam turbines. This means we are restricting ourselves to technologies that are not only for nuclear purposes but can also be used in gas or coal plants.”…
Siemens will now be focusing heavily on their renewable energy efforts. The German effort to have 35% renewable energy production by 2030 is certainly a motivating factor. Expect more projects like their north African solar generation project.
Still, the drastic change in a huge worldwide corporation is stunning. Siemens obviously sees the future and conditions for nuclear power to be a losing proposition. Giant corporations don’t make such massive changes if they don’t benefit the profits and future of the company.
Editors note: We just received word that Brazil has stopped 4 nuclear power projects.
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