FRANKFURT : Minority shareholders of Siemens Gamesa on Tuesday approved a capital reduction for the remaining 2.21% stake parent Siemens Energy (ENR1n.DE) does not already own, paving the way for a full integration of the Spanish-based wind turbine maker. “This is an important step in preparing for full integration. Besides, the turnaround program at Siemens […]
Thyssenkrupp to list hydrogen unit Nucera – EQ Mag
Nucera targets primary proceeds of up to 600 mln euros Offering expected to be completed before summer break Offering will primarily consist of new shares De Nora shares -0.9%, Thyssenkrupp +0.3% FRANKFURT/DUESSELDORF : Thyssenkrupp (TKAG.DE) launched on Monday the long-awaited listing of its hydrogen division Nucera, suggesting its new chief executive intends to waste no […]
Imported hydrogen can beat EU production costs by 2030 – EQ Mag
FRANKFURT : Imports of renewable hydrogen into the European Union by 2030 will be competitively priced compared with domestically produced clean hydrogen, a future energy source to replace fossil fuels, a study by Aurora Energy said on Tuesday. In the RePowerEU policy, lawmakers have assumed that hydrogen usage in the bloc will reach 20 million […]
Exclusive: German Battery Group BMZ Plans September IPO, Sources Say
BMZ is working with Citi, JP Morgan and Berenberg on the initial public offering (IPO), which will sell shares worth about 500 million euros, the sources said. FRANKFURT: German battery group BMZ is preparing for a Frankfurt stock market listing as early as September with a targeted valuation of about 2 billion euros ($2.4 billion), […]
Solarwatt and BMW cooperate on home batteries
The German battery market is currently led by Solarwatt rival Sonnen, part of Shell. FRANKFURT: Solarwatt and BMW cooperate on home batteries Solarwatt will start selling storage batteries from this autumn in cooperation with carmaker BMW amid an ongoing convergence of renewable power and electric mobility, the German photovolatic firm announced on Wednesday. Under the […]
German Power Grids Brace For Thursday’s Solar Eclipse
The event will take place between 0920 GMT and 1140 GMT on Thursday in northern Europe, an Amprion background paper said. FRANKFURT : Electrical transmission networks in Germany are preparing for a solar eclipse this week that could trigger a sudden fall of around 1 gigawatt (GW) in solar power output, grid firm Amprion said […]
RWE and BASF Plan $4.9 Billion Offshore Wind Power Project
As part of the project, which depends on more favourable legislation, RWE plans to build a 2 gigawatt (GW) offshore wind park by 2030 to help to supply BASF’s Ludwigshafen chemicals complex, Germany’s single biggest electricity consumer. FRANKFURT: Chemicals giant BASF and German utility RWE on Friday announced a potential 4 billion euro ($4.9 billion) […]
Daimler Truck Says Batteries, Hydrogen are the future
As renewable sources of energy are looked into, batteries and hydrogen will be what automobiles of the future will operate on FRANKFURT: The world’s largest truck and bus maker is charting an ambitious zero-emission future and says it’s not that far off – despite higher costs and the current lack of support infrastructure. Daimler AG’s […]
Germany expands capacity in wind, solar power auctions
Speeding up the momentum to meet climate goals within the European Union will be a major issue in Germany’s general election in September, and the Green Party is making quick gains in the polls. FRANKFURT: Germany will expand the energy capacity tendered in renewable power project auctions to help decarbonise electricity, and will relieve the […]
Siemens Gamesa, Siemens Energy tap hydrogen boom in wind alliance
In the European Union, renewable hydrogen, which can replace fossil fuel in sectors that are struggling to decarbonise, is seen as a way to meet goals to reduce emissions FRANKFURT/DUESSELDORF: Siemens Gamesa and Siemens Energy are developing a commercial offshore wind turbine that produces hydrogen via electrolysis, the companies said, marking a breakthrough for the […]