Siemens Bails on Solar
I must admit, I was completely blown away this morning after I read that Siemens (NYSE:SI) would be bailing on solar.
In a statement issued by Siemens, the company said that due to the changed framework conditions, lower growth and strong price pressure in the solar markets, the company’s expectations for its solar energy activities have not been met.
I’ve been saying for more than two years now that the solar industry is going through some very serious consolidation. But to be honest, I thought Siemens would be among the few remaining players once the smoke cleared.
Although it should be noted that the company will still sell steam turbines, control systems and generators for customers currently operating solar power plants. So the company still has exposure to the space. As well, Siemens remains a leader in the offshore wind space, where competition is quite limited.
Siemens was up 1.24% in pre-market.
Siemens (NYSE:SI) Licks its Wounds on Solar Failure originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
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