Siemens ponders post-Fukushima nuclear plans

Siemens is considering whether to abandon its plan to form a partnership with the Russian State Atomic Energy Corp (Rosatom), reports the Wall Street Journal.
In 2009 Siemens announced its intention to work with the Russian nuclear firm to develop nuclear power around the world. Siemens intended to weld its expertise in building steam turbines and generators and large-scale plant projects with the Rosatom's experience in building nuclear reactors.
While others in the nuclear industry, such as GE and Westinghouse, have continued to express confidence in the future of atomic power, Siemens executives have been more guarded in their public comments in recent weeks, according to the newspaper.
"Fukushima has to be an occasion for taking stock [of nuclear energy]," Siemens finance chief Joe Kaeser told Germany's Der Tagesspiegel newspaper in an interview this week. "The world has to do some soul-searching," he added, but declined to elaborate on Siemens' own nuclear aims, reports the Wall Street Journal.
Some senior officials at Siemens, whose businesses range from high-speed trains to medical-imaging equipment, were already skeptical about the potential for a so-called nuclear renaissance.
Even before the Fukushima crisis, many nuclear-reactor projects around the world were stalled or mired in cost-overruns. Since the crisis, those doubts have grown as many countries have started reviews or frozen plans to build new nuclear plants.
Siemens's nuclear strategy has always been complicated by antinuclear sentiment in Germany, home to nearly a third of its work force. There, the Fukushima accident sparked massive street protests against a government move to extend the working lives of Germany's nuclear reactors. In response, Chancellor Angela Merkel ordered the temporary shutdown of seven reactors within days of the first blasts at the Japanese plant.
Some Siemens senior officials and employees also worry the company's nuclear ambitions appear increasingly at odds with CEO Peter Löscher's efforts to make it a leader in environmentally friendly infrastructure—from smart electricity grids to wind turbines to solar thermal power plants.
Heinz Steffen, an analyst at Fairesearch, said that Siemens won't face a substantial loss of revenue if it abandons the planned Rosatom partnership. But he added that Siemens would be unlikely to pull out of nuclear-plant activities altogether due to its long-term contracts to supply and service nuclear projects around the world.
For more business news, click here

Sponsored by FLSmidth
Recommend this article Recommend this article () You recommended this article You recommended this article ()
Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Engineering Current Issue

Volume 118, Issue 3

Buyers Guide Company Listings

Siemens Industry Inc - Water Technologies

Siemens provides integrated systems and support services for pretreatment and boiler feedwater, cooling tower reuse/wastewater minimization, flue gas desulfurization wastewater, intake screens, and mobile water treatment.

Siemens Energy

Siemens Power Generation is committed to improving operating plant competitiveness and profitability by developing and delivering technology-based solutions and services to its customers, including gas, steam and wind-turbine generator technology.

Siemens Industry Inc, Solutions Automation and Drive Technologies

World's leading manufacturer of clamp-on and in-line transit-time and Doppler flowmeters. Products include permanent and portable systems.

Power Industry Wire News

Landmark Settlement Protects Colorado Roan Plateau

Landmark Settlement Protects Colorado Roan Plateau

BeneVir Biopharm, Inc. Announces Investment From HC2's Subsidiary Pansend, LLC

BeneVir Biopharm, Inc. Announces Investment From HC2's Subsidiary Pansend, LLC

Eos Petro Announces Extension of Tender Offer for Any and All Outstanding Shares of Dune Energy

Eos Petro Announces Extension of Tender Offer for Any and All Outstanding Shares of Dun...

Eureka Hunter Pipeline Announces Expansion of Its Senior Secured Revolving Credit Facility

Eureka Hunter Pipeline Announces Expansion of Its Senior Secured Revolving Credit Facil...

Cardinal Resources Moving Forward in West Africa

Cardinal Resources Moving Forward in West Africa

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>