Dive Summary:

• Siemens has announced a shift in its overall renewable energy strategy, giving up its solar business to focus on wind and hydropower.
• The reasons for the switch include a changed environment, slower growth, and strong pricing pressure in the solar markets, all of which have failed to meet expectations in the field of solar energy.
• The German company is currently in talks with possible buyers, but no figures have yet to surface.

From the article:

In a shift of its overall renewable energy strategy, Siemens will give up its solar business and instead focus on wind and hydropower, according to a statement by the company. The German industrial giant is currently in talks with possible buyers, according to reports, but no solid dollar figures have yet surfaced.

“The company plans to divest itself of its solar business and leads to discussions with interested parties,” the statement said. “In renewable energy, Siemens wants to focus in future on wind and water power.” ...