2023-07-09 18:31:04
Malaga, Spain: A Siemens Gamesa wind turbine Image: Reuters
Siemens Energy is only making losses with the wind power company Gamesa. The problems are home made. What Siemens Gamesa needs now are clear decisions.
At least since the war in Ukraine and the gas crisis, the expansion of renewable energies has been at the top of many governments’ lists of priorities. The energy technology group Siemens Energy, which is sitting on a record order backlog of more than 100 billion euros, is also feeling the effects. The Dax group, which offers wind power on land and at sea, conventional power plant and power transmission technology, would have to make substantial profits in these times. But the booming wind power business, of all things, keeps causing high losses.
The most recent forecast reduction was again due to the Spanish wind power company Gamesa and was so fatal that the share price of the parent company Siemens Energy fell by more than a third. More than 6 billion euros in market value were destroyed in one day. But how can it be that Siemens Energy is making ever greater losses with wind turbines in these times?
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