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Giant industrial company Siemens abandons nuclear energy, favors renewables

Siemens to quit nuclear industry BBC News, 19 Sept,11,  German industrial and engineering conglomerate Siemens is to withdraw entirely from the nuclear industry…  chief executive Peter Loescher said, announcing that the firm will no longer build nuclear power stations.  ”The chapter for us is closed,”

A long-planned joint venture with Russian nuclear firm Rosatom will also be cancelled, although Mr Loescher said he would still seek to work with their partner “in other fields”….
The latest decision appears to imply a step back from building “conventional islands” – the non-nuclear plant in nuclear power stations – an area in which Siemens has remained active….
U-turnHe also gave his backing to the German government’s planned switch to renewable energy sources, calling it a “project of the century” and claiming Berlin’s target of reaching 35% renewable energy by 2020 was achievable…. http://www.bbc.co.uk/news/business-14963575

September 19, 2011 - Posted by | business and costs, Germany

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