COO Tim Holt: New Siemens Power Will Be ‘Powerhouse’

By Jack Burke26 February 2020

The Spring issue of Diesel & Gas Turbine Worldwide includes a Q&A with Tim Holt, chief operating officer at Siemens Gas and Power, who discusses the company’s future, the state of the industry as well as other topics. Here’s a sample:

Q: This is obviously a time of transition for Siemens Power as a company; what is the message that you’re sharing with customers and potential customers about what comes next?

A: Siemens AG will spin off its Gas and Power Operating Company into an independent, stock-listed energy company that will enable the company to compete more effectively in today’s challenging market. The new stock-listed energy company is called Siemens Energy. As part of our portfolio offerings, we will take over Siemens’ majority stake in the market-leading wind power business, Siemens Gamesa Renewable Energy. These actions will create a truly unique and focused energy pure-play company on the market – and one that will play a leading role in both the conventional and the renewable energy worlds. With the combination of conventional power generation, renewables, oil and gas activities, and power transmission, we’re building an attractive and focused company with a unique capacity in the industry. With about 90 000 employees and a business volume of about €30 billion, the new company will be a real powerhouse in the energy and power generation market.

Click here to get your FREE subscription to Diesel & Gas Turbine Worldwide.

Delivered directly to your inbox, Diesel Gas & Turbine News; News features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Jack Burke Senior Editor, Diesel Gas Turbine Tel: +1 262 754 4150 E-mail:
Gabriele Dinsel Sales Manager Tel: +49 711 3416 74 71 E-mail:
Latest News
Cat’s well service engine wins EPA award
3512E earns Clean Air Technology plaudits
Shell, Whitmore announce JV in rail sector
Sale, distribution of lubricants covered
Hydrogen production planned for port of Hamburg
100 MW electrolyzer will be built