Saturday, October 2, 2010

Siemens keen to invest in smart grid tech in Malaysia

by: Sharon Kaur
SIEMENS Malaysia Sdn Bhd, a unit of German engineering giant Siemens AG, plans to hold talks with the Malaysian government to invest in smart grid technology and produce electric cars (e-cars) to reduce carbon dioxide emission. Siemens Malaysia president and chief executive officer (CEO) Prakash Chandran said the proposed project with the government will involve building smart grids, charging stations and e-car infrastructure.
Smart grid is an integrated approach for the entire e-car infrastructure including various charging solutions, information and communication technologies, and billing solutions that make possible the seamless interaction of e-cars, operation centres, and power grid. “Electric automobiles and e-cars are creating a surge of development and are the cause of exciting new alliances. At the end of the day, every country will venture into it. Siemens will be one of the companies to drive growth in this area,” he said in an interview with Business Times in Kuala Lumpur.
In neighbouring Singapore, Siemens is looking to build e-car infrastructure and 60 charging stations. “We are in talks with the Singaporean government. They are evaluating the technology. We hope to implement the project soon,” he said. Siemens already generates annual revenue of some e1 billion (RM4.13 billion) with smart grid technologies, and intends to capture about 20 per cent market share by the year 2014 in a market worth e30 billion. Siemens division CEO power transmission, energy sector, Udo Niehage, said he expects growing importance for e-cars within the next 10 years. “We have pilot projects in seven cities in Germany and we are in discussion with other cities in Asia,” he said. Niehage said Siemens will invest in new cutting edge technology for power generation to continue to grow its energy business by 11 per cent per annum. “We will be investing in solar technology, wind power and power generation. Our objective is to improve group revenue,” he said.Siemens is the world’s largest provider of environmental technologies, generating e23 billion or nearly one-third of its total revenue from green products and solutions. In fiscal 2009, its total revenue was e76.7 billion and net income e2.5 billion. The Siemens-Energy Sector is the world’s only manufacturer with comprehensive expertise along the entire chain of energy conversion.
source: business times, 26.09.2010

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