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Germany-based energy giant Siemens Energy is investing $150 million in a new factory in Charlotte, North Carolina, to address a shortage of transformers across the United States.
This new investment will build Siemen’s first energy transformer production facility in the United States. A portion of the funding will come in the form of a Job Development Investment Grant from the State of North Carolina. Governor Roy Cooper announced the grant after approval by the state Economic Investment Commission.
“America’s energy transition is in full swing, with $3.9 billion committed to expand and update the U.S. power grid over the next two years,” said Tim Holt, member of the Siemens Energy Board of Directors. ” he said. However, renewable projects and grid expansion are only possible if transformers are available. ”
News of expanded operations at the North Carolina facility follows Siemens’ decision to invest $290 million in three U.S. locations in 2023. According to Siemens, the investment will increase production of critical electrical infrastructure equipment at the Dallas-Forth Worth facility. Strengthen the electrification of U.S. data centers, battery factories, semiconductor facilities, and electric vehicle charging operations.
By ramping up production of power transformers, the U.S. government could also reduce emissions by 50 to 52 percent by the end of 2005 compared to 2005 levels.
However, energy experts predict that a quarter (25%) of the world’s renewable projects are at risk due to long transformer lead times.
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“Today’s U.S. market is primarily dominated by the Americas and Europe, but as global demand for this critical technology grows, we are building on our long-standing presence in North Carolina to expand our U.S. footprint. “We think there is long-term potential to expand the procedure, which has been performed since 1969,” Holt added.
Transformers coordinate power generation and distribution, converting high-voltage power to lower voltage.
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