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Siemens to give shareholders 55% of Energy business spin-off

ZURICH: Siemens will give 55% of its power business to shareholders when it spins it off in September, the German engineering group said on Tuesday, the latest stage in its shift away from a sprawling conglomerate. The trains to industrial software maker then wants to “significantly” reduce its remaining 45% position within 12 to 18 […]

Featured

Siemens AG sells 24 per cent stake in Indian unit for Rs 8,520 cr to group firm

May 20, 2020 Anand Gupta

While there was no official word from the company, reports suggested that Siemens AG was in the process of carving out its gas and power business, which had dragged its overall performance, into a separate subsidiary New Delhi: German conglomerate Siemens Aktiengesellschaft on Tuesday sold shares worth over Rs 8,500 crore in its listed Indian […]

Featured

Siemens says parent transfers 24 per cent stake in company to energy subsidiary

May 19, 2020 Anand Gupta

In India, the gas and power business would continue to be a part of the listed company Siemens. New Delhi: Siemens India’s promoter group rejigged its holding in the company as the German parent Siemens AG transferred 24% stake in the Indian arm to subsidiary Siemens Gas and Power Holding BV in line with the […]

Renewable Energy

Siemens Gamesa warns coronavirus will keep squeezing 2020 finances

May 7, 2020 Anand Gupta

That profitability gauge had stood at 7.5 per cent a year earlier. The company’s bottom line also turned to a net loss in the quarter, but Chief Executive Marcus Tacke said he still believed it had good long-term prospects Wind turbine maker Siemens Gamesa said on Wednesday that project delays and supply chain disruptions caused […]

Europe & UK

Spain seizes virus tests bound for returning Siemens Gamesa workers: union

April 15, 2020 Anand Gupta

Siemens Gamesa began testing some staff last week and had agreed to extend this to the whole workforce, but told employees on Saturday it would not be able comply with its original timetable MADRID: Spanish authorities have requisitioned 2,000 antibody tests procured by wind turbine maker Siemens Gamesa and intended to check whether employees have […]

Featured

Siemens inks pact to acquire 99% equity in C&S Electric for Rs 2,100 crore

January 25, 2020 Anand Gupta

Siemens will acquire about 99 per cent of the equity share capital of C&S Electric for around Rs 2,100 crore (nearly EUR 267 million). Closing of the acquisition is subject to regulatory approvals, the statement added. Siemens on January 24 said it has inked an agreement to acquire 99 per cent equity in New Delhi-based […]

Energy Storage

Siemens in talks with stakeholders to develop energy storage solutions

November 25, 2019 Anand Gupta

During 2019-2025, the electric vehicle industry is forecast to consume over 110 GW of batteries Mumbai: Siemens is in talks with various stakeholders for developing industrial energy storage solutions to cash in on the government effort to boost battery storage plans, a senior company official has said. India has set an ambitious target of having […]

Energy Storage

Siemens In Talks With Stakeholders To Develop Industrial Energy Storage Solutions

November 23, 2019 Anand Gupta

Siemens Ltd. is in talks with various stakeholders for developing industrial energy storage solutions to cash in on the government effort to boost battery storage plans, a senior company official has said. India has set an ambitious target of having 225 gigawatt of renewable energy capacity by 2022. According to estimates by India Energy Storage […]

Americas

Ameresco Plots Larger Role for Solar and Storage

August 21, 2019 Anand Gupta

The microgrids and energy-efficiency specialist says the number of viable markets for on-site solar and storage is growing. Ameresco is best known as a commercial and industrial energy services company, or ESCO, competing against giants like Honeywell, Siemens, Johnson Controls and a host of other national and regional providers on HVAC retrofits, LED lighting upgrades, […]

Europe & UK

Bankrupt wind turbine maker Senvion in talks to buy time for rescue deal

July 27, 2019 Anand Gupta

The company is in discussions with creditors to extend a 100 million euro ($111 million) insolvency loan so it can avoid having to agree to sell at any price FRANKFURT: Bankrupt German wind turbine manufacturer Senvion is in talks to buy time to strike a rescue deal as negotiations with potential buyers of the company […]

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