A Fresh Breeze at Siemens

New Siemens (NYSE: SI  ) CEO Peter Loescher, who came on board late last month after news that the company had allegedly used bribes to win some telecommunications contracts, announced Thursday that he has put in place new measures to prevent such corruption.

This is all well and good, and investors should be pleased, but a different bit of news should have investors cheering even louder. The company reported that it had sold 25 offshore wind turbines with a combined capacity of 90 megawatts to the Rhyl Flats Offshore Wind Farm, off the coast of Wales.

The news offers further evidence that Siemens remains the leading supplier of large-scale offshore wind turbines in Europe -- ahead of both Vestas and GE (NYSE: GE  ) . And when I say large-scale, I mean large. Each turbine is bigger than a football field in diameter (117 yards, to be precise), and 25 of them produce enough electricity to meet the needs of 100,000 homes.

In addition to each turbine being able to produce 3.6 megawatts, their presence offshore (and thus out of sight of most people) means they're also likely to spawn fewer consumer complaints than land wind farms, which often draw opposition because of aesthetic issues.

Siemens has already installed more than 6,000 wind turbines worldwide, and I expect this number will grow considerably in the coming years, especially as both the United States and China also turn their attention to offshore wind power.

This opportunity, combined with the new leadership, can be likened to a fresh breeze for the company, and it should have Siemens investors breathing a little easier after having to deal with the bribery scandal.

Interested in clean tech-related Foolishness? Check out these articles:

The U.S. has the world's biggest stock market, but companies based elsewhere make up more than half of the world's market cap. Learn more about them when you join Bill Mann and his team at Global Gains for a free trial.

Fool contributor Jack Uldrich likes fresh breezes, especially now that they can't mess up his hair (he is bald). He owns stock in GE. The Fool has a strict disclosure policy.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 531851, ~/Articles/ArticleHandler.aspx, 10/24/2016 11:19:34 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 hours ago Sponsored by:
DOW 18,223.03 77.32 0.43%
S&P 500 2,151.33 10.17 0.47%
NASD 5,309.83 52.43 1.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/24/2016 3:59 PM
SIEGY $116.42 Up +0.66 +0.57%
Siemens AG (ADR) CAPS Rating: ****
GE $28.92 Down -0.06 -0.21%
General Electric CAPS Rating: ****