Siemens Energy Sees 'Massive Tailwind' from U.S. Power Drive

Siemens Energy AG, a leading energy technology company, is poised to capitalize on the growing demand for renewable energy projects and grid expansion in the United States. The company's recent investment in Charlotte, North Carolina, aims to address the national shortage of power transformers, which is crucial for the energy transition and grid modernization. This strategic move positions Siemens Energy to capture a larger share of the U.S. market and contribute to the country's decarbonization goals.

The U.S. energy transition is in full swing, with $3.9 billion pledged to expand and update the U.S. grid within the next two years. However, renewable projects and grid expansion can only happen with the availability of transformers. Currently, only 20% of U.S. large power transformer demand is met by domestic supply, with lead times of up to five years. This presents an opportunity for Siemens Energy to fill the gap in the market and support the U.S. energy transition.

Siemens Energy's investment in the U.S. market is also supported by a Job Development Investment Grant (JDIG) from the state of North Carolina, further validating the company's commitment to the region and the energy transition. The company's long-standing presence in North Carolina, dating back to 1969, also provides a solid foundation for this expansion.

By increasing domestic U.S. transformer production, Siemens Energy is well-positioned to capitalize on the growing global demand for renewable energy projects. The company's investment in the U.S. market addresses the challenges posed by long transformer lead times and supply chain bottlenecks, enabling the country's energy transition and supporting the reliability and resilience of the U.S. electric grid.



Siemens Energy's strategy to address the national shortage of power transformers in the U.S. contributes to the company's overall growth and market dominance in the energy sector by expanding its market share, supporting the U.S. energy transition, addressing supply chain bottlenecks, enhancing grid reliability, and creating local jobs and economic growth.

In conclusion, Siemens Energy's investment in the U.S. market positions the company to capitalize on the growing demand for renewable energy projects and grid expansion. By addressing the national shortage of power transformers, Siemens Energy is well-positioned to capture a larger share of the U.S. market and contribute to the country's decarbonization goals. The company's long-standing presence in North Carolina and the support of the state's JDIG further validate its commitment to the region and the energy transition. Siemens Energy's investment in the U.S. market addresses the challenges posed by long transformer lead times and supply chain bottlenecks, enabling the country's energy transition and supporting the reliability and resilience of the U.S. electric grid.