Siemens Energy to Hire Over 10,000 Employees in Major Grid Expansion
In a bold move to expand its electricity grid business, Siemens Energy has announced plans to hire more than 10,000 new employees. This initiative is part of a €1.2 billion, six-year growth plan aimed at bolstering the company’s Grid Technologies division, its largest revenue driver.
A Strategic Response to Industry Challenges
As reported by the Financial Times, this ambitious expansion plan is expected to help Siemens Energy navigate the challenges faced by its wind turbine subsidiary, Siemens Gamesa. The Grid Technologies division, which already stands as the world’s second-largest manufacturer of electricity transmission equipment, is set to increase its workforce by two-thirds by 2030. The €1.2 billion capital expenditure will be allocated towards new factories and enhanced manufacturing capacities across the US, Europe, and Asia.
Meeting Surging Demand
Tim Holt, head of the Grid Technologies division, emphasized the growing need for robust grid infrastructure. “Surging demand for electricity, a wave of renewable projects requiring better grid connections, and widespread ageing infrastructure are driving the need for advanced grid equipment,” Holt explained. This surge in demand is a clear indicator of the global shift towards renewable energy and the necessity for upgraded electricity transmission systems to handle the increasing loads.
Global Expansion and Job Creation
Siemens Energy’s expansion is set to unfold rapidly, with the majority of the growth materializing within the next two years. Of the new jobs, 40% will be based in Europe, 20% in the US, 20% in India, and the remaining 20% spread across the rest of Asia and Latin America. This global distribution of new positions underscores the company’s commitment to strengthening its presence and capabilities worldwide.
Impressive Order Growth
The Grid Technologies division has seen remarkable growth in recent years. From 2021 to 2023, orders doubled from €7 billion to €15 billion, with €12 billion in orders recorded in just the first half of this year. This impressive performance highlights the increasing demand for Siemens Energy’s grid solutions and the company’s ability to meet these needs effectively.
Looking Ahead
Siemens Energy’s strategic expansion not only aims to address current industry challenges but also positions the company for long-term success in the evolving energy landscape. By investing in new infrastructure and significantly expanding its workforce, Siemens Energy is poised to play a crucial role in the global transition to sustainable energy. #SiemensEnergy #GridExpansion #RenewableEnergy #SustainableFuture #EnergyInfrastructure #GlobalGrowth #JobCreation #ElectricityGrid #EnergyTransition #CleanEnergy #TechnologyInnovation #IndustryLeadership #TimHolt
Credit: [Image: Siemens Energy]