Siemens Energy: to invest $150m in US plant

(CercleFinance.com) - Siemens Energy will invest $150m to expand its operations in Charlotte, North Carolina in the US, an investment that will address the American power transformer shortage.


Today, only 20% of US demand for large power transformers is met by domestic supply, with delivery times of up to five years.

Power transformers are essential components in any grid expansion. They enable the reliable transport of electricity over long distances and help stabilize power transmission between regions.

Tim Holt, member of the Siemens Energy Board of Directors, said that the US energy transition is in full swing, with $3.9bn pledged to expand and modernize the US grid over the next two years. However, renewable energy projects and grid expansion can only happen with the availability of transformers. We see the long-term potential of increasing our presence in the US, building on our long-standing presence in North Carolina.


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