Siemens Energy stops supporting the development of new coal-fired power plants but will continue offering bridging technologies like gas-fired plants and components for efficient combined heat and power (CHP), waste heat and biomass co-firing projects as well as continuing its business of CO2-reducing services and solutions. These technologies involve sector coupling to accelerate the energy transition and thus promote the reduction of global warming, with PtX (Power-to-X) solutions and green hydrogen as the key elements.

The above decision does not have a material impact on the Revenues or Profit of Gas and Power (now Energy) business within Siemens Ltd as the Company currently does not have the competencies to provide utility equipment for new coal-fired power plants.

 The decision of discontinuation would not have any significant effect on the Revenues or Profit of Gas and Power (Energy) business within Siemens Ltd. It will explore opportunities to further deepen its collaboration to provide reliable, affordable, and sustainable energy in India, with Siemens Energy in the new business areas.

For more information: www.siemens.co.in