Siemens Energy and Voith have agreed that Voith will take over Siemens Energy's 35% stake in the JV Voith Hydro. The parties have agreed not to disclose the purchase price, and the transaction is still subject to the approval of the authorities.

With its portfolio Siemens Energy focuses primarily on transporting and storing energy, decarbonizing industrial processes, and generating electricity with little or no CO₂ emissions. However, thus far the hydropower sector has had a subordinate role. The Voith Hydro joint venture (formerly Voith Siemens Hydro Power Generation) was founded in 2000 when Siemens and Voith merged their activities in the field of turbine and generator technology for hydropower plants. As part of the independence of Siemens Energy, the shares in Voith Hydro were transferred from Siemens AG to Siemens Energy in 2020.