Siemens Ltd’s Board of Directors has approved the proposal to demerge its Energy Business into a separate legal entity – Siemens Energy India Ltd.
Currently a wholly owned subsidiary of Siemens Ltd, Siemens Energy India will be subsequently listed and will mirror the shareholding of Siemens Ltd, upon the receipt of requisite approvals.
“Siemens Ltd will continue to be a leading technology-focused company in industry, infrastructure and mobility, while Siemens Energy India Ltd will focus on being the most valued energy technology company supporting its customers in transitioning to a more sustainable world,” stated Siemens.
Siemens Energy India will provide solutions across the entire energy value chain – from power and heat generation, transmission to storage through a portfolio that includes conventional and renewable energy technology such as gas and steam turbines, hybrid power plants operated with hydrogen as well as power generators and transformer.
In a separate development, Siemens Ltd has announced capital investment of over INR 1,000 crore ($119.75 million) to expand its manufacturing facilities in India. The company has announced the expansion of its smart infrastructure solutions factory in Goa and metro train manufacturing facility in Aurangabad. This is in addition to the capacity expansions of the power transformer factory in Kalwa and vacuum interrupter factory in Goa announced by the company in November 2023. With this, the company’s total Capex investment is expected to exceed INR 1,000 crore.
The company is expanding its smart infrastructure operations in Goa to meet the rapidly increasing need for critical components of the industry, infrastructure and power distribution sectors. The total investment will be INR 333 crore and this will be the largest investment by Siemens in Goa.
“The factory will bring to market state-of-the-art Gas Insulated Switchgear and Clean Air GIS (Blue GIS) technologies. These products will help customers in sectors such as data centers, metro rail, oil & gas, steel, transmission & distribution to meet their sustainability goals,” stated Siemens.
Mobility Business is investing INR 186 crore to build a state-of-the-art Metro train manufacturing facility at Aurangabad. This is in addition to the existing bogie manufacturing facility at the same location.
“Both factories will rank among leading globally benchmarked sustainable factories while also contributing to the Government of India’s Make in India and Aatmanirbhar programs through localization. The factories are designed as per the LEED Gold standards, are carbon neutral and water positive using various sustainable technologies, which include PV solar, microgrid, EV charging, battery energy storage systems (BESS) and rainwater harvesting, and will be built with recycled materials and circular construction techniques,” stated Siemens.
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