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

 Siemens announces new CEO, Power and Gas

Siemens announces new CEO, Power and Gas

Siemens (NYSE: SI) announced that Willi Meixner will serve as the chief executive officer (CEO) of the Power and Gas Division, effective March 15, 2015. Meixner succeeds Roland Fischer, who left Siemens at his own request.

 Siemens upgrades I&C system of GE steam turbines for first time

Siemens upgrades I&C system of GE steam turbines for first time

Siemens (NYSE: SI) received an order to upgrade the instrumentation & controls (I&C) systems for two of six units at a 3,240-MW thermal power station in South Korea.

Follow Power Engineering on Twitter
Latest News

MHPS to supply M501J gas, steam turbines to new combined-cycle power plant in Korea

Mitsubishi Hitachi Power Systems (MHPS), jointly with Marubeni Corp., has received an order f...

Business leaders throw support behind coal plant proposal

Business leaders on Thursday outlined the economic devastation they say could come if New Mex...

TVA seeks public comment for future coal ash storage at Bull Run

The Tennessee Valley Authority (TVA) is asking for public input on plans to expand dry onsite...

California Public Utilities Commission Approves NRG Energy’s Carlsbad Energy Center

California Public Utilities Commission (CPUC) has approved the SDG&E Power Purchase and T...

Vermont joins international effort to fight climate change

Gov. Peter Shumlin says Vermont has signed on to what he called a first-of-its-kind agreement...

Products May 2015

Callaway Energy Center's Replacement Reactor Vessel Closure Head Project

Replacing heavy equipment is one way utilities can extend the life and increase the reliabili...

Managing CCRs and Process Water: Why Handling Bottom Ash Wet May Remain The Best Option

The U.S. coal-fired electric generation industry once again finds itself in the crosshairs of...

Power Engineering Current Issue

02/01/2015
Volume 119, Issue 2
1502PE-cover
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 | 2014 | 2015

Power Industry Wire News

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free NDT Job Training to Vets, Disadvantaged Young Adults

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free ND...

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tech Talent

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tec...

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possible Delisting

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possi...

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 >>