Siemens’ estimate for the shift away from nuclear is much higher than the 250-300 billion euros estimate given earlier by Juergen Grossmann, chief executive of Germany’s No.2 utility RWE. Grossmann, however, did not give a time frame for the investments. Siemens’ Energy Sector — which is active in several areas including power transmission, solar, wind and hydro power — achieved 27.61 billion euros in sales in the fiscal year 2011, or about 38 per cent of group revenues, while profit came in at 4.14 billion. Read More
