SAN DIEGO, Calif. -- For the second time this month, an international energy giant has jumped full throttle into renewable energy.

A couple of weeks back, it was American-based General Electric that shook things up with its announcement that it would build a solar thin-film manufacturing facility in Colorado. And this week it was Germany-based Siemens that has been heralded for its decision to enter the geothermal market with its new 60-megawatt steam turbine. The company made the announcement at the Geothermal Energy Association expo in San Diego.

According to the company, it sees the geothermal market as a high-growth area within the next decade. Some estimates say geothermal capacity globally could triple by 2020, so Siemens clearly sees the potential.

Below is an interview with Wener Altmeyet, vice president of global marketing and sales at Siemens.