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Siemens invests heavily in India – includes renewable energy

Siemens is to invest over €250 million in India by 2012, with a major part of this going to renewable energy.

Forecasts say that the Indian economy will grow 7% in 2010 and 8% in 2011. However, about 30% of India’s population has no access to power, which is why the Indian Government plans to add 150 GW over the next 7 years.

Renewable energy should contribute 20% of this by 2020. One Siemens project involves an investment of around €70m in a wind turbine factory in India by 2012. The first wind turbines are scheduled to leave the plant in a little over two years.

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