Siemens ready to help modernise Russian power plants

German engineering firm Siemens is ready to participate in the modernisation of power plants in Russia, the head of its Russian branch said on Wednesday.

"Around 50 percent of stations require modernisation and Siemens is ready (to consider) offers," Dietrich Moeller, the head of Siemens Russia, said at an energy conference in Moscow.

Siemens said earlier this year it was reviewing aspects of its dealings with Russia after four of its power-generating turbines were delivered to Crimea, which is subject to European sanctions on technology supplies after Russia annexed the area.