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Search resuls for: "Poland's PGE"


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Companies PGE Polska Grupa Energetyczna SA FollowWARSAW, Sept 4 (Reuters) - Polish utility PGE (PGE.WA) said on Monday it was reversing a decision to bring forward its carbon-neutrality target to 2040 from 2050, changing course less than a week after the announcement of a strategy that caused political fallout. PGE is one of a few state-controlled energy firms that is seeking to move away from coal-fired plants in a coordinated overhaul of the country's energy sector. "The Management Board of PGE S.A. repealed the resolution adopting the update of the PGE Group Strategy," PGE said in a statement. "The decision is due to the need to complete the process of establishing the National Energy Security Agency (NABE)." Reporting by Alan Charlish and Marek Strzelecki; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: PGE's, Jacek Sasin, Alan Charlish, Marek Strzelecki, Alexander Smith Organizations: PGE Polska Grupa, WARSAW, PGE, Poland, State, PGE S.A, National Energy Security Agency, Thomson Locations: PGE, Poland, Warsaw
UBS analysts said that in a worst-case scenario charges for Siemens Energy could exceed 5 billion euros. Denmark's Orsted said it operates one onshore wind farm with Siemens Energy turbines and that Orsted's portfolio of turbines has "high availability rates, reflecting that wind power has very little down-time." Siemens Gamesa has already told Iberdrola that it would proceed with a retrofit design, the source said, adding no technical issues for the remaining fleet of Siemens Gamesa turbines had been observed. Siemens Energy shares were up 5.7% at 1428 GMT, recovering some losses after analysts said Friday's sell-off was overblown. Siemens Gamesa first disclosed problems around its 5X model in July 2021, flagging higher than expected ramp-up costs.
Persons: Siemens Gamesa, Germany's, Denmark's Orsted, Eolus Vind, Iberdrola, Friday's, Andres Gonzalez, Forrest Crellin, Christoph Steitz, Marek Strzelecki, Nikolaj Skydsgaard, Nora Buli, Pietro Lombardi, Nina Chestney, Mark Potter, Alexander Smith Organizations: Siemens, Siemens Energy, UBS, EDF, Copenhagen Infrastructure Partners, Siemens Gamesa, Poland's PGE, Thomson Locations: Spanish, Copenhagen, Baltica, Baltic, London, Paris, Frankfurt, Warsaw, Oslo, Madrid
The company has provided more than 132 gigawatts (GW) of wind turbines as of the end of April this year to all global regions: 108 GW of onshore wind and 22 GW of offshore wind. The discovery of faulty components at Siemens Gamesa's onshore wind turbines had already caused a charge of nearly half a billion euros in January. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide. Shares in European wind turbine producers Nordex (NDXG.DE) and Vestas (VWS.CO) also fell as confidence in the industry was shaken. Many wind power developers have already seen delays in projects due to the availability of components and rising costs.
Persons: Siemens Gamesa, Spain's, Denmark's, Nina Chestney, Christoph Steitz, Susan Fenton Organizations: Siemens Energy, Siemens, SIEMENS, WHO, Scottish Power Renewables, East Anglia, Poland's PGE, Siemens AG, Thomson Locations: Spain, Europe, Americas, Britain, North, Baltica, Baltic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPoland's PGE expects nuclear to provide flexibility during the energy transitionWanda Buk, deputy chief executive officer of PGE, says nuclear energy has a role to play in providing flexibility during the energy transition.
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