Germany-based engineering firm Siemens has said it will withdraw from the nuclear energy business to concentrate on expanding its renewable energy activities.
Go deeper with GlobalData
The decision is in line with the German Government’s resolution to phase out nuclear power by 2022, in the wake of the Fukushima nuclear disaster, which occurred in Japan in March.
Siemens will also cancel the long-planned joint venture with Russian nuclear firm Rosatom.
German Chancellor Angela Merkel said that the 17 nuclear reactors, which contribute 23% of electricity production in the country, would be shut down by 2022.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
