The company said the change was due to differences in the two markets’ maturity. The Wind Power division will be split into three business units for Europe, Asia-Pacific and the Americas.
Siemens Energy CEO Michael Suess said: "In the new unit Solar & Hydro we’ll be moving forward with research and development in the field of solar power to further increase our competitiveness.
"In our established wind power business we’ll be forging ahead with industrialisation and internationalisation."
The new Wind Power division will be headed up by Felix Ferlemann, currently head of the chassis systems division of Benteler Automotive.
According to Siemens, its current Siemens Wind Power CEO Jens-Peter Saul is likely to head up one of the three business divisions.
Siemens said the wind division would focus on product development. Recently it announced the creation of two new research and development facilities in Denmark.
Suess said: "With the new setup we want to ensure that we continue the success story with our wind-power business in the future, too.
"The starting position for that is good. We’ve got an order backlog of almost €11 billion and we’re world market leader in offshore wind farms, the market sector posting the fastest growth. We also want to forge ahead with onshore wind turbines."