HAMBURG : Siemens Energy ENR1n.DE is considering setting up production in the United States to help modernise the country’s power grid, keen for a slice of what is expected to be a multitrillion-dollar market following the Inflation Reduction Act (IRA). The deliberations are part of a broader rethink at the German power conglomerate to expand […]
Siemens Energy tones down profit outlook on wind sector challenges – EQ Mag
FRANKFURT : Siemens Energy, which supplies equipment and services to the power sector, expects to hit the lower end of its profit margin target this year, the company said on Monday, adding its wind turbine division remained under pressure. “Our adjusted outlook reflects the strong demand, as well as the continuous challenging market environment in […]
Siemens Energy signs $200 mln deal with Brazil’s Eletrobras to upgrade transmission line – EQ Mag
SAO PAULO : Siemens Energy has signed a $200 million deal with Brazil’s Eletrobras to modernize a key electricity transmission line that runs from the gigantic Itaipu hydroelectric plant, a Siemens executive told Reuters. The project, worth some 1 billion reais ($199.87 million) and expected to be completed by 2026, will upgrade over 800 kilometers […]
Siemens Energy sells shares worth $1.33 billion to help fund Gamesa bid – EQ Mag
FRANKFURT/LONDON : Siemens Energy raised 1.259 billion euros ($1.33 billion) via the sale of new shares to help fund its takeover of wind turbine maker Siemens Gamesa. Siemens Energy in November launched a bid for the remaining stake it did not already own in Siemens Gamesa, frustrated by a number of profit warnings at the […]
Siemens Energy cuts profit outlook as Siemens Gamesa woes continue – EQ Mag
FRANKFURT : Siemens Energy ENR1n.DE on Thursday slashed its 2023 outlook after faulty components at the wind turbine fleet of Siemens Gamesa SGREN.MC led to higher warranty and maintenance costs, marking the latest setback in the group’s troubled relationship. The German supplier of equipment to the power sector, which was spun off from Siemens AG […]
Siemens Energy weighing bid for outstanding Siemens Gamesa stake – EQ Mag Pro
FRANKFURT/MADRID : Germany’s Siemens Energy is mulling a bid to buy the third of Siemens Gamesa it does not already own, the company said on Wednesday, hoping this will help it fix long-standing problems at the Spanish-listed wind turbine maker. Siemens Energy faces mounting shareholder pressure to seek control of Siemens Gamesa, in which it […]
Siemens Energy secures electrolyzer order from European Energy for world`s first large-scale eMethanol project – EQ Mag Pro
Starting point into CO2-neutral shipping in large-scale Siemens Energy will implement an electrolyzer plant in the 50 megawatt range European Energy will be responsible for utilizing the electrolyzer in Aabenraa in the Southern part of Denmark. Siemens Energy secured an order from European Energy for the delivery of an electrolyzer plant. The Danish developer and […]
Siemens Energy, wind division lose $5 bln in value after profit warning – EQ Mag Pro
Shares in Siemens Energy ENR1n.DE hit a record low on Monday as a sell-off triggered by problems at its wind power division Siemens Gamesa SGREN.MC continued following a HSBC downgrade. Siemens Energy’s stock fell as much as 6.9% to 17.805 euros per share, its lowest since the company was spun off from former parent Siemens […]
Siemens Energy Shares Slump After Inflation Hits Wind-Power Unit – EQ Mag Pro
Siemens Energy AG fell the most in six months in Frankfurt after slashing its outlook due to mounting losses at its wind-turbine business, which warned that the soaring cost of raw materials would squeeze margins in 2022. The German engineering firm said its revenue could slip by as much as 2% this financial year after […]
Egypt Targets ‘Robust Green Hydrogen Industry’ With Siemens Energy Link-Up – EQ Mag Pro
German group signs pact for pilot electrolyser plant in first step to major renewable H2 ambitions in Middle East nation Egypt will work with Siemens Energy in a bid to build a “robust green hydrogen industry” in the Middle East nation. Siemens Energy will work with state power group the Egyptian Electricity Holding Company (EEHC) […]
