Siemens, the German industrial giant, is, like the installation they created, picture above, a superstar. Peter Löscher, recently reappointed as CEO, has been driving the renewables end of their business relentlessly, seeing nothing but upside.
Siemens has made a big move in announcing its total withdrawal from the nuclear power business. Siemens Abandoning Nuclear Power Business is the headline from the NY Times this morning in the business section. This article in Der Spiegel quotes Löscher: “The chapter is closed for us. We will no longer be involved in managing the building or financing of nuclear plants.” Why? Fukushima and the German public’s rejection of nuclear energy.
Siemens had been in a partnership with Russia’s nuclear power agency, Rosatom, to build dozens of new nukes. But they’ve seen the error of that path, and I guarantee it’s a business decision as much as it is a choice based on what is right for the future of Europe. Siemens can see its renewable energy business growing and it knows it’s much more worthwhile, on any number of levels, to concentrate much of their energy business there.
As far as fixing the climate goes, renewables are an infinitely better bet than nuclear. See the numbers here from Amory Lovins: Nuclear Power: Climate Fix or Folly?