Siemens wants to win Smart Grid orders worth over €6 billion by 2014

Siemens AG wants to receive orders worth more than €6-billion for intelligent power networks (Smart Grids) over the next five fiscal years; it is already one of the leading international suppliers of Smart Grids and is continuing to strengthen this position.

''We are already on the optimal course in the Smart Grids business and will be running at top speed in the future. A new age of electricity is dawning with Smart Grids,'' said Wolfgang Dehen, CEO of the Siemens Energy Sector.

Siemens anticipates that orders for Smart Grid technologies will reach nearly €1 billion in the current fiscal year.

''The Smart Grid market will see increasingly dynamic growth fueled by climate change and economic stimulus programmes. We want to grow twice as fast as the overall market,'' added Dehen.

The market being addressed by Siemens totals around €30 billion over the coming five years. Siemens is aiming at seven per cent annual growth and a market share of over 20 per cent in the Smart Grid business. ''The world needs intelligent power grids in order to meet the growing demand for energy in a way that is eco-friendly and reliable. We estimate that the demand for electricity will double by 2030, due to trends like e-mobility, which is just emerging,'' continued Dehen.

According to studies, more than a billion tons of CO2 emissions could be abated with intelligent power networks by 2020. Smart Grids are essential for integrating renewable power sources into power networks and for ensuring stable power supplies from solar and wind energy.

Overall, the Smart Grid market has three primary components: Smart Metering (intelligent billing), Grid Intelligence (the grid infrastructure and its controls), and Utility IT (intelligent data management). Siemens is active in all three areas and is already global market leader for grid intelligence.