Siemens Energy Weighs US Expansion, Drawn by IRA Subsidies (1)

Siemens Energy AG is considering expanding capacity at its US factories to take advantage of President Joe Biden’s clean-energy subsidies, adding pressure on European regulators to adopt more aggressive incentives.

“We definitely look at a potential capacity expansion on our side,” Chief Executive Officer Christian Bruch said Tuesday in an interview with Bloomberg TV. “Today, we run roughly 25 factories in the US, and we look into investments in existing sites as well as potentially opening new sites.”

WATCH: Siemens Energy CEO Christian Bruch speaks with Bloomberg’s Oliver Crook from Munich.

Source: Bloomberg

The Inflation Reduction Act, which promises roughly $370 billion in clean-energy subsidies, is already attracting a growing list of European ...