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Wind Siemens GE
Polly Martin
23 May 2022
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Siemens Energy offers €4bn for SGRE takeover

The German technology firm plans to take struggling wind turbine manufacturer Siemens Gamesa into full ownership

German technology firm Siemens Energy has offered to buy the remaining 32.9pc of wind turbine company Siemens Gamesa Renewable Energy (SGRE) it does not already own for €18.05 ($19.28) per share in cash in a deal worth €4bn. The offer comes amid continuing losses for SGRE. In its Q2 results, which measure performance from January-March this year, the company reports a loss of €385mn, with losses in H1 stacking up to €762mn. It has withdrawn its 2022 guidance and aims to work toward margins of -4pc. SGRE blames rising costs due to continued supply chain disruption and difficulties in the ramp-up of its latest onshore wind platform—called 5.X. The firm reported a 78pc year-on-year fall in orde

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Also in this section
GE loses US patent dispute with Siemens Gamesa
30 June 2022
Recent ruling against GE could hobble offshore wind profits in the US, but uncertainty remains over the possibility of further litigation in other markets
UK must do more on climate targets – CCC
29 June 2022
Nation at significant risk of not meeting its fifth and sixth carbon budgets, says climate watchdog
Offshore wind installations lag government targets
29 June 2022
States are ramping up targets, but complex permitting systems constrain developers’ ability to deliver projects at pace, says Global Wind Energy Council
Equinor and Fluxys study CO₂ pipeline project
29 June 2022
Project would pump CO₂ from multiple emitters in northwest Europe to storage sites under Norwegian continental shelf

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