Siemens Energy to Invest $1 Billion in US to Tap Power Boom (1)

Siemens Energy AG will invest $1 billion (€847 million) in manufacturing capacity in the US over the next two years as power demand surges.

Most of the funds will be spent on expanding existing sites in North Carolina, Florida, Texas, Alabama and New York, as well as a new plant in Mississippi, the German energy infrastructure maker said Tuesday. The investments will focus on gas turbines and grid technology manufacturing, including transformer production and servicing, creating around 1,500 jobs, it said.

“The US is the hottest electricity market at the moment in the world,” Chief Executive Officer Christian Bruch said ...