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Kim Hsu, Sept. 20, 2011

A very important development: German giant Siemens plans to pull out of the nuclear energy business, CEO Peter Löscher told Spiegel. After the Fukushima nuclear disaster “the chapter is closed,” he said. The company will expand its renewable energy activities instead. This follow Berlin’s decision to completely phase out Germany’s nuclear industry by the year 2022. In my opinion, this will be important only if Germany refuses to buy nuclear based energy from neighbors such as France in the future.

Kim Hsu
Comments (2)
  • Nina Dumas Nina Dumas Sept. 20, 2011
    Germany seems to be the only country in the world that has taken a responsible decision regarding nuclear power. The decision taken by Siemens is a direct result of political leadership by Chancellor Merkel. What a brave woman!
  • Bert Breton Bert Breton Sept. 20, 2011
    Wow!!! I'm stunned!!! In America, the mere thought of General Electric (GE Energy) taking a similar stance is completely unfathomable. Siemens should be applauded. Even though their decision is directly related to the closure of their domestic nuclear industry, there is surely still profit to be made for them abroad. Clearly, the nuclear energy lobbiests in Germany don't carry the same influence as their counterparts in Washington DC.

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Kim Hsu

Royal Bank of Canada

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