The board of directors of Siemens Ltd green-lighted the proposal to separate its energy business into a distinct legal entity named Siemens Energy India Ltd. Currently, functioning as a wholly owned subsidiary of Siemens Ltd, Siemens Energy India will undergo listing and will replicate Siemens Ltd’s shareholding once it obtains the necessary approvals.
Siemens emphasized that while Siemens Ltd will maintain its position as a leading technology-centric company in industry, infrastructure, and mobility, Siemens Energy India Ltd will concentrate on becoming a highly esteemed energy technology company, aiding its clientele in transitioning towards a more sustainable world.
As reported by pv magazine, Siemens Energy India will offer solutions spanning the entire energy spectrum – from power and heat generation to transmission and storage – via a portfolio encompassing both conventional and renewable energy technologies such as gas and steam turbines, hydrogen operated hybrid power plants, power generators, and transformers.
