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

Related Articles

TVO Olkiluoto 3 Areva-Siemens Finland nuclear reactor Olkiluoto 4

TVO may cut jobs due to delayed nuclear reactor, low power prices

Finnish nuclear utility TVO said it may cut up to 110 jobs due to decreased power prices and increased construction costs from a delayed nuclear project.

Rockwood nears permit for up to 915-MW power plant in Texas

The Texas Commission on Environmental Quality on Dec. 18 issued notice of a planned approval of air permitting for a gas-fired power project of Rockwood Energy Center LLC.

Follow Power Engineering on Twitter

Latest News

American wind power rebounds in 2014, but stable policy still needed

The fourth quarter 2014 wind energy industry report released yesterday by the American Wind E...

Weekly Coal Production Report

The Weekly Coal Production Report has been updated for the week ended January 24, 2015.

Hawaii energy executives tell lawmakers plans for takeover

An official at NextEra Energy told Hawaii lawmakers that his company does not plan to lay off...

Dominion seeks rate freeze against opposition on many fronts

Virginia's biggest electric utility wants to weaken state oversight of its rates, saying the ...

GE to supply turbines for wind power project in China

GE (NYSE: GE) will supply 55 units of its 2.75-120 brilliant wind turbines to Huaneng Corp.’s...
Renewable Roundtable Discussion

Power Engineering Photo of the Day

Company to supply doors to Chernobyl nuclear plant site

Groupe Gorge, through its subsidiary, Baumert, won a new order to supply technical doors to t...

Siemens to maintain California natural gas-fired power plant

Siemens (NYSE: SI) was awarded a long-term service agreement for the 507-MW Blythe Energy Cen...

Power Engineering Current Issue

Volume 118, Issue 12

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.

Archived Articles

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

Power Industry Wire News

Forbes Magazine Ranks Precision Frac #4

Forbes Magazine Ranks Precision Frac #4

Vectren to Discuss 2014 Results and 2015 Outlook on Conference Call

Vectren to Discuss 2014 Results and 2015 Outlook on Conference Call

Vectren Declares Quarterly Dividend

Vectren Declares Quarterly Dividend

NV5 Appoints Francois Tardan to Board of Directors

NV5 Appoints Francois Tardan to Board of Directors

Enbridge Energy Partners, L.P. Confirms Distribution Increase for Fourth Quarter 2014

Enbridge Energy Partners, L.P. Confirms Distribution Increase for Fourth Quarter 2014

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 >>