2017 A Decent Year to Start With Wind, Says Kaeser
Siemens AG Chief Executive Officer Joe Kaeser said he expects revenue from Saudi Arabia to reach $5 billion by 2020 as Europe’s biggest engineering company focuses on energy projects and emerging markets. The first orders from Saudi Arabia are expected in the 2017 fiscal year, bolstered by spending on alternative energy sources like wind farms, Kaeser said in an interview with Bloomberg's Erik Schatzker in Riyadh. “2017 could be a decent year to start with wind,” the CEO said. “They have very good spots here for onshore wind,” he said, adding that there could be potential for 300 megawatts in capacity over 2017 and 2018.