Solar Power

Siemens to Sell off Solar Power Business

Losing money there and will focus on hydro and wind instead

|

Siemens plans to dispose of its lossmaking solar technology business after a fall in profit margins forced the German engineering conglomerate to refocus on core activities.

The Munich-based maker of trains, gas turbines and power transmission equipment said Monday that it was holding talks with unnamed parties over the sale of its solar unit.