Siemens to create jobs through green investment in Germany and Hungary
Munich, Germany, 2010-Aug-05
Siemens is participating in the development of two ecofriendly combined-cycle power plants – one in the German state of Brandenburg and the other in Hungary. The project has a total value of roughly $1.5 billion and will employ up to about 1,000 people in the Wustermark region of Brandenburg as well as in the Hungarian city of Szeged during the three-year construction period. Once in operation, each location will provide jobs for about 50 highly qualified personnel on a long-term basis.
As part of the project to develop the two power plants, Siemens has – via its equity company Siemens Project Ventures GmbH – acquired 50 percent stakes in each of the two project companies of Swiss project developer Advanced Power AG that are responsible for building the facilities. Construction of both plants will begin in 2012 and is scheduled for completion by 2015. The facilities will meet the highest environmental standards for emissions and water consumption. The Wustermark plant will have a capacity of 1,200 megawatts and the Szeged facility a capacity of 880 megawatts.