The energy technology group Siemens Energy wants to expand its electricity grid business and create thousands of new jobs in the coming years.

"In the next 15 years, we will see investments in the grid worldwide that are as large as those of the last 150 years," explained Tim Holt, the member of the Managing Board responsible for the Grid Technologies division, on Tuesday. "We want to participate in this boom and are therefore investing a total of 1.2 billion euros by 2030 and creating around 10,000 jobs." The jobs in Europe are to be created in Germany, the UK, Austria, Croatia and, to a lesser extent, Romania.

Holt first spoke to the Financial Times (FT) about the plans. "We see this huge boom coming," he told the newspaper, referring to the increasing demand for electricity and a largely outdated infrastructure. "It has already started to pick up speed," the manager emphasized. The division has already more than doubled its orders from 2021 to 2023 from seven billion euros to 15 billion euros. In the first half of 2024, orders worth twelve billion euros were received. Siemens Energy employs around 99,000 people worldwide.

(Report by Anneli Palmen, Miranda Murray, edited by Tom Käckenhoff, edited by Ralf Banser; if you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets)).