The Siemens Energy spin-off has been a long-time coming and this week we got some detail on where the company is heading and how it plans to get there.
It wants to take a leading role in the global energy transition and will leverage R&D and investments in, among others, hydrogen for gas turbines, windpower and T&D technologies to achieve this.
So far, so pretty-much what I expected.
However, what I found most encouraging was listening to Siemens Energy president and chief executive Christian Bruch – new into the hot seat from Linde Engineering and talking to journalists ahead of a capital markets day – highlight how the energy transition “is not a black and white situation”. He said the “industry has not been vocal enough on what’s needed to get through the energy transition: what’s needed to get us to a more sustainable world”.
Instead, he said too many in the industry had spent too long reciting the mantra “everything renewable is good, everything conventional is bad”. And he’s certainly right about that. I’ve heard the essence of that mantra countless times in the last decade and it’s taken the industry far too long to adopt the holistic view that is finally starting to accelerate the energy transition.
Bruch is saying nothing revelatory – it’s common sense. But it’s a common sense view that a blinkered industry couldn’t – or wouldn’t – see for years.
It was interesting to also hear him talk about the importance of collaboration. One thing is for sure – Siemens doesn’t have all the answers to the energy sector’s challenges, so it’s encouraging to hear the company acknowledge that fact.
Siemens Energy is embarking on a new journey and it’ll be one that has a significant number of challenges and potential pitfalls. However, it looks like it has the mindset to adapt and evolve – and you can’t overstate the importance of having that mindset in place from the start.
Until next time,