Siemens, the global electronics major, aims to spend over Euro 150 million ($217 million) in Denmark to further expand its global wind power business in the next two years. The company is planning to set up two new research and development centers in Brande and Aalborg, plus expanding offices in Brande and Vejle.
The company will match the capacity of its Danish production plants to the rising demand for offshore wind turbines in Europe. Siemens builds onshore and offshore turbines and competes with General Electric Co. (GE), Vestas Wind Systems A/S and Aurich, Germany-based Enercon GmbH.
Last year, Siemens opened two new wind turbine production plants in China and US. Further, production facilities are planned in the UK, Canada, Russia and India.
Recently, Siemens has received approval from Reserve Bank of India to operate non-banking finance (NBFC) business in the country.
