May 3, 2017 – Siemens Canada and Kensington Capital Partners Limited have entered into a memorandum of understanding (MOU) aimed at cleantech energy solutions in the country.

“As an asset manager, Kensington is all about relationships and we view our relationship with Siemens as one which will help investment programs in energy infrastructure and cleantech,” said Tom Kennedy, chair of Kensington.

The MOU identifies “numerous focus areas”, including energy storage, transmission and distribution, combined heat and power plants, power generation, smart grid, micro grid and biomass.

 “Cross-company teams are being formed and we are already actively exploring how to accelerate the development of energy and clean tech solutions that will power Canada’s next 150 years,” added Lucy Casacia, vice-president of Cities & Infrastructure Projects, Siemens Canada Limited.

Siemens says Canada’s national cleantech industry revenue is expected to grow to $26 billion by 2018.