In a move to expand its reach in the sector, Siemens Project
Ventures, part of Siemens Financial Services, has bought a 25
percent stake in German renewable energy financing company BGZ

BGZ offers services from project planning and projection, to the
financing, turnkey construction and operation of energy production

The company was also responsible for the House of Future
Energies, a centre created to develop further renewable projects in
addition to the wind, biomass and solar energy cells projects.

Siemens Project Ventures’ investment in BGZ marks a further step
in its efforts to strengthen Siemens’ environmental portfolio.

With green technologies accounting for slightly less than €19
billion in sales or about one-fourth of its total revenue for
fiscal 2008, the German manufacturer is the world’s largest
supplier of green infrastructure solutions. It is also the leading
supplier of offshore wind farms, having installed over 7,800 wind
turbines worldwide at the end of 2008.

Abdus Shuman