Page 4 - Jochen Eickholt News Today

Hopes for a turnaround story for Siemens Energy’s wind turbine unit have been dashed after projecting a hefty bill to repair its quality issues.

Siemens Energy has fixed quality issues at onshore wind turbines it is currently selling to customers, the CEO of the groups wind division Siemens Gamesa said on Friday, adding the group had made... -August 11, 2023 at 04:03 am- MarketScreener

When Siemens announced a deal to merge its wind power business with rival Gamesa in 2017, executives saw only upside.

A new report warns that it is “virtually certain” that future extreme events in Antarctica will be worse than the extraordinary changes already observed.

(Bloomberg) -- Siemens Energy AG 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.Most Read from BloombergMusk Says He May Need Surgery, Will Get MRI on Back and NeckTexas Power Prices to Surge 800% on Sunday Amid Searing HeatUkraine Black Sea Drone Attacks Signal Rapidly Expanding WarHSBC Executive Slams ‘Weak’ UK for Backing ...

Siemens Energy is reviewing its wind business after taking a large hit to its earnings due to problems at its Siemens Gamesa unit.

Read Siemens Gamesa sold ‘insufficiently tested’ wind turbines – CEO and other wind energy news & analysis on Windpower Monthly

Siemens Energy shares fell as much as 7% on Monday in volatile trade as the conglomerate warned of a €4.5 billion ($4.95 billion) annual loss due to trouble...

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Siemens Gamesa sold wind turbines that ‘had not been sufficiently tested’ as it tried to get new products to the market too quickly, CEO Jochen Eickholt admitted, while the head of parent Siemens Energy, Christian Bruch, added that the manufacturer as part of an upcoming strategic review will place ‘stability and profitability before growth’. The mea culpa came as Siemens Energy posted a net loss of €2.9bn ($3.18bn) in the first three qua...