Siemens Energy, a major European manufacturer of wind farms, power grids and natural gas turbines, said Thursday that it was in talks with the German government about securing financial guarantees to help it continue to build future large projects.
The statement said preliminary talks were underway with banks and the government.
News that the Munich-based company was seeking help spooked investors, sending its stock price down 35 percent.
Siemens Energy’s difficulties could be a warning that financial problems weighing on makers of renewable energy equipment could be growing more severe.
These businesses are expected to be integral to helping economies shift to cleaner energy, but many are struggling to grow fast enough.
Organizations:
Siemens Energy, Siemens
Locations:
Munich