Siemens to leave nuclear power

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Siemens has announced that it is exiting the nuclear business, ending a key partnership with a Russian state nuclear corporation that had hopes of competing with other nuclear competitors, The Australian Eye reports.

Chief Executive Peter Löscher said, “The (nuclear) chapter is closed for us,” in a declaration of Siemens’ official position for the first time since the Fukushima crisis in Japan and the German government’s decision to phase out the use of nuclear energy.

The Russian state nuclear corporation, Rosatom, and Siemens partnered in 2009 – Siemens planned to increase its footprint in the nuclear business and Rosatom planned to use its partnership to gain credibility in the international nuclear marketplace.

Löscher said Siemens’ decision to withdraw from the nuclear industry is in response to “the very clear stance taken by Germany’s society and political leadership.”

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