Siemens Energy to spend US$1 billion in U.S. power market

Siemens Energy will invest US$1 billion to expand U.S. power grid and turbine component production, including a new Mississippi factory expected by 2028, as demand from data centers rises.

Siemens Energy plans to invest US$1 billion to expand production of power grid equipment and gas turbine components in the United States. The investment is part of a wider 6 billion euro company program. Company executives attribute much of the increased demand to data centers and the extra electricity they require. The package includes construction of a new factory in Mississippi that the company says would be its largest such facility globally. Key details: - The planned investment is US$1 billion and targets U.S. grid equipment and turbine component production. - The move is part of a broader 6 billion euro expansion effort announced by Siemens Energy. - A new factory in Mississippi is included and is expected to be completed in 2028, described as the company’s largest facility for grid equipment worldwide. - Siemens Energy says the expansion would add around a fifth to its global production capacity for large turbines. - Company remarks link much of the demand to data centers and note roughly 20 gigawatts of generation power for U.S. data centers in orders and reservation agreements. Summary: The investment is intended to increase manufacturing capacity in the U.S. to meet growing power needs tied to data centers. The Mississippi factory is scheduled for completion in 2028 and the expansion is described as allowing other facilities, such as the Berlin turbine plant, to focus more on clients in Europe and the Middle East.