The German industrial and engineering conglomerate, Siemens, following on the heels of its government's decision to abandon nuclear energy, has withdrawn entirely from the nuclear industry. It will build no further nuclear plants and is canceling its nuclear joint venture with Russia's Rosatom. Siemens built all 17 of Germany's existing nuclear plants. Siemens chief executive, Peter Loescher, (pictured) praised the Merkel government's decision to close all its nuclear plants by 2022 and aim for an 80% to 100% renewable energy economy by 2050, calling it "a project of the century."