Methanol-powered turbine test hailed a ‘key milestone’ for greener North Sea
A gas turbine used by the offshore energy industry for decades has proved it can be retrofitted to run on methanol, reducing harmful emissions by 80%.
Siemens Energy
Power Moves: New business development manager at ABP and more
Christine Watts has been appointed as the new business development manager of Associated British Ports (ABP).
SSEN awards key contracts for Orkney-Caithness Link subsea cableproject
SSEN Transmission has awarded key contracts for a subsea cable project that will connect the Orkney Islands to the Scottish mainland for the first time.
Siemens Energy eyes biggest wind turbine to rival China
Siemens Energy AG (DE:ENR) has told customers it plans to produce its biggest wind turbine, potentially toward the end of the decade, as the company seeks to maintain its lead in one of the fastest-growing energy sectors.
Siemens Energy surges on wind unit turnaround, job cuts
Siemens Energy AG (FWB:ENR) shares jumped 14% after the company signaled its lucrative gas and electric grid businesses were no longer burdened by ongoing losses at its struggling wind-turbine unit.
Time to convert green hydrogen ambition into faster, tangible action
The European Union continues to race towards a sustainable future, competing most closely against North America and Asia to become the world's first climate-neutral continent by 2050.
Siemens Energy bosses say UK ‘missed opportunity’ to lead on hydrogen
Slow decision-making and a lack of projects means the UK has lost out on opportunities to anchor a domestic hydrogen supply chain, politicians have heard.
UPDATE: Siemens Energy grilled by investors over wind-turbine crisis
Chief Executive Officer Christian Bruch faced the ire of Siemens Energy shareholders looking for answers in their first opportunity to directly question the CEO since quality problems at the company’s Gamesa wind-turbine unit spiraled into record losses.
Siemens Energy shares surge on recovery signals from wind turbines crisis
Shares in equipment manufacturer Siemens Energy (XETR: ENR) have climbed nearly 15% as a Q1 results announcement showed signs of recovery from a major wind turbine crisis.
Siemens Energy confronts bruised investors seeking answers
After multiple shocks wiping off billions of euros of market value, Siemens Energy (Xetra: ENR) sought to convince investors that the company is on the path to profitability.
Siemens Energy sees long way to profit after government deal
Siemens Energy has seen success in 70% of businesses in the fourth quarter as its wind company continues to struggle.
UPDATE: Siemens Energy secures €15 billion deal to shore up finances
Siemens Energy AG has secured a €15 billion ($16.2 billion) deal with the German government, its biggest shareholder Siemens AG and a consortium of banks, as the troubled manufacturer weathers massive losses at its wind-turbine unit.
Siemens Energy secures provisional deal for project guarantees – report
Beleaguered wind turbine manufacturer Siemens Energy has reportedly secured a multi-billion-euro loan deal in principle with the German Government, its top shareholder other parties in project-related guarantees.
Siemens Energy soars as chairman says ‘no need’ for state money
Siemens Energy climbed the most on record after supervisory board chairman Joe Kaeser pushed back against suggestions the troubled turbine maker may need a taxpayer-funded bailout from the German government.
Faulty wind turbines become Germany’s €16 billion problem
The history of Siemens is the history of electricity. After Werner von Siemens set up shop in a Berlin workshop in 1847, his improved design for the electric telegraph won him the contract to build Europe’s first long-distance cable. His company became an industrial behemoth, making everything from light bulbs to giant turbines for power stations.
UPDATE: Siemens Energy slumps after seeking €16bn in state aid
Siemens Energy AG is in talks with the German government about securing as much as €16 billion ($16.9 billion) in state guarantees as problems at its wind-turbine unit spread to the rest of the business. Shares plummeted 40%.
Siemens Energy mulls factory and office closures to stem turbine losses
Siemens Energy is considering closing offices and manufacturing sites to address its loss-making wind turbine business, according to reports.
Law firms circle Siemens Energy over securities concerns
A number of US law firms are reportedly investigating the potential for class action lawsuits against Siemens Energy after the disclosure of turbine failures prompted a collapse of its stock.
Siemens Energy sees €4.5bn hit as wind losses widen
Siemens Energy launched a strategic review of its wind power business as problems with its turbines are expected to cause a €4.5 billion ($5 billion) net loss in one of industrial Germany’s biggest debacles.
Siemens Energy Reviews Wind Business on Seeing €4.5 Billion Loss
Siemens Energy AG is scrutinizing its wind business for a strategic reset after heavy costs related to ongoing problems with turbines roughly quadrupled the company’s expected annual loss to €4.5 billion ($5 billion).
Siemens Energy sets up twin taskforces to investigate wind unit
Siemens Energy is establishing an internal taskforce as well as supervisory board committee after a string of quality problems with its wind turbines triggered a record share price drop, a person familiar with the matter said.
Siemens Energy: Wind turbines that shake and break cost their maker billions
Siemens Energy AG is struggling to contain the fallout after discovering a main piece on the frame of its wind turbine can move or twist over time.
Siemens Energy stock price plummets amid turbine failures
Siemens Energy stock prices have dropped by record numbers following growing issues at Siemens Gamesa Renewable Energy.
National Grid needs to deliver ‘five times as much as the last 40 years’ by 2035
The National Grid has seven years to deliver upgrades equivalent to five-times what it has achieved in the last four decades, a major industry conference has heard.
Siemens Energy’s troubled wind takeover haunts green push
With Siemens Energy AG taking full control of its troubled Gamesa unit, executives finally have a clear path to fix a business that’s delivered three years of straight losses.