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☆ Still a way to go in wind industry, Siemens Energy CEO says
  + stars: | 2022-11-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStill a way to go in wind industry, Siemens Energy CEO saysChristian Bruch, CEO of Siemens Energy, discusses the company's fourth-quarter results and the need for a faster energy transition in the industry.
☆ Siemens Energy scraps dividend on wind division turmoil
  + stars: | 2022-11-16 | by ( Christoph Steitz Alexander Hübner | Christoph Steitz | Alexander Hübner | ) www.reuters.com   time to read: +2 min
Siemens Energy owns 67% in Siemens Gamesa and has launched a 4.05 billion euro bid, expected to run until Dec. 13, to buy the rest in an attempt to better integrate the division and fix quality issues at a next-generation turbine model. "In a challenging year we managed to again deliver solid results in our Gas and Power business, while Siemens Gamesa did not meet expectations," Siemens Energy Chief Executive Christian Bruch said in a statement. "The integration of Siemens Gamesa will help to improve profitability at our wind business and allow it to deliver to its full potential." Fourth-quarter sales were up 5.9% at 9.2 billion euros, the company said, higher than the 8.8 billion Refinitiv estimate. The company added that, at 97.4 billion euros, its order backlog had reached a new record.
☆ Siemens Energy CEO eyes chairman role at Gamesa - Handelsblatt
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, Oct 10 (Reuters) - Siemens Energy Chief Executive Christian Bruch is planning to take on the role of chairman of the board of directors at Siemens Gamesa once the takeover of the Spanish wind turbine maker has been completed, Handelsblatt reported, citing company sources. A Siemens Energy (ENR1n.DE) spokesperson declined to comment. Siemens Energy in May announced plans to bid 4.05 billion euros ($3.93 billion) for the remaining third of Siemens Gamesa (SGREN.MC) it does not already own, hoping to get a better handle on ongoing problems at the wind turbine maker. Register now for FREE unlimited access to Reuters.com RegisterIt is not uncommon for CEOs to take on the position of chairman at majority-owned subsidiaries that are listed on the stock exchange. ($1 = 1.0309 euros)Register now for FREE unlimited access to Reuters.com RegisterWriting by Rachel More and Christoph Steitz, editing by Kirsti Knolle and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.
☆ The Nord Stream 1 pipeline is missing a turbine that's keeping natural-gas flows out of Russia slow, and Russia and Germany are caught in a blame game over it
  + stars: | 2022-08-04 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
The Nord Stream 1 pipeline sends gas from Russia to Germany. Gazprom has cut natural-gas flows via the Nord Stream 1 to Germany twice in the past two months. In June, Gazprom cut flows to about 40% of the pipeline's capacity, citing a turbine's hold-up in Canada as a result of war-related sanctions. In July, Gazprom again cut natural-gas flow to Germany, this time to just 20% of capacity, citing a second turbine that needed maintenance. On July 10, Canada said it would waive sanctions and return the first repaired turbine to Russia to ensure continued gas flows in Europe.
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