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Christoph Steitz - 2 Jonathan Foley - 1 Foley - 1 Cara Horowitz - 1 Goldman Sachs - 1 Friederike Heine - 1 Louise Heavens - 1 Wood Mackenzie - 1
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Saudi Aramco Dhahran Saudi Arabia China Ukraine Frankfurt
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Siemens Energy - 3 International Energy Agency - 2 Thomson - 2 Saudi Aramco - 1 Monday - 1 Siemens Energy AG - 1 Aramco - 1 Amazon - 1

Search resuls for: "Siemens Energy AG"


5 mentions found


☆ Saudi oil giant Aramco announces pilot project to suck CO2 out of the air, but some scientists are skeptical
  + stars: | 2023-10-09 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +4 min
Saudi oil giant Aramco on Monday announced a partnership with Siemens Energy AG to develop a small-scale direct air-capture "test unit" in an attempt to manage emissions. The test unit will be built in Dhahran, Saudi Arabia and finished in 2024, according to a statement from Aramco on Monday. The DAC collaboration between Aramco and Siemens Energy is still in early phases. Given DAC's adolescence, both oil companies are invested in other clean energy technology projects. The spokesperson for Siemens Energy said that the company has invested in hydrogen, wind, nuclear fusion and others.
Persons: Jonathan Foley, Foley, Cara Horowitz Organizations: Saudi Aramco, Monday, Siemens Energy AG, Aramco, International Energy Agency, Amazon, Frontier, UCLA's, DAC, Siemens Energy, CNBC Locations: Saudi, Aramco, Dhahran, Saudi Arabia
☆ Siemens Energy shares gain as Goldman dubs reaction to turbine problems 'excessive'
  + stars: | 2023-06-27 | by ( ) www.reuters.com   time to read: +1 min
Companies Siemens Energy AG FollowFRANKFURT, June 27 (Reuters) - Shares in Siemens Energy (ENR1n.DE) recovered some losses on Tuesday after Goldman Sachs analysts kept a "buy" rating on the stock and said the massive sell-off following the disclosure of problems at its wind turbine division was overblown. They had fallen more than 37% on Friday after the company withdrew its 2023 profit outlook, citing failure rates at its newer onshore wind turbine models that will cost more than 1 billion euros ($1.1 billion) to fix. "We remain Buy-rated as we believe there has been an excessive negative market reaction over the past several days which leaves Siemens Energy shares deeply discounted," Goldman Sachs analysts wrote. Goldman Sachs said that they estimate 1.5 billion euros in costs related to the communicated problems, less than the 2 billion Jefferies estimate a day earlier. ($1 = 0.9146 euros)Reporting by Christoph Steitz, Editing by Friederike Heine and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Goldman Sachs, Christoph Steitz, Friederike Heine, Louise Heavens Organizations: Siemens Energy, FRANKFURT, Jefferies, Thomson
☆ Explainer: Why the wind power industry has hit turbulence
  + stars: | 2023-06-26 | by ( Nina Chestney | Thomson Reuters | Oversees | ) www.reuters.com   time to read: +5 min
The Global Wind Energy Council said earlier this year that a record 680 gigawatts (GW) of wind energy capacity is expected to be installed by 2027. But the expected revenues of those planning to build wind turbines have not risen in tandem. Many governments index the prices paid for wind energy, usually through auctions, which are often too low, analysts at Wood Mackenzie said. COMPONENTSAmong the issues which arise from operating wind turbines, wear and tear on turbine blades over time can lead to erosion. Its shares fell more than 6% on Friday, while shares in Siemens Energy, the second biggest wind turbine maker, sank 37%.
Persons: Wood Mackenzie, WindEurope, Nina Chestney, Christoph Steitz, Barbara Lewis Organizations: Siemens Energy, LONDON, Siemens, World Energy, Wind Energy Council, International Energy Agency, Thomson Locations: China, Ukraine, Frankfurt
☆ Siemens Energy signs agreement to develop Iraq's power grid
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +1 min
Companies Siemens Energy AG FollowBERLIN, Jan 13 (Reuters) - Siemens Energy (ENR1n.DE) plans to boost its cooperation with Iraq in the coming years, the company said on Friday, as its CEO inked a deal with the Iraqi government to develop the country's power network. Siemens Energy CEO Christian Bruch signed a memorandum of understanding with Iraqi Electricity Minister Ziyad Ali to provide an additional 11 gigawatts for local power production, a statement from the German Economy Ministry said. "Siemens Energy will play a key role in in this development," Habeck added. The planned projects include constructing and developing power generation facilities for both conventional and renewable energy sources, the ministry statement said. Electrification of large parts of an entire country is therefore one of the most important tasks of our business," Siemens Energy CEO Christian Bruch said in a statement to Reuters ahead of the meeting.
☆ Brazil, a Bastion of Hydropower, Is Gaining Traction in Wind and Solar
  + stars: | 2022-12-06 | by ( Paulo Trevisani | ) www.wsj.com   time to read: +8 min
The government, meanwhile, welcomes renewables projects as they can generate jobs and extra income for communities plagued by poverty. The wave of solar, wind and other clean-energy projects is expected to take market share from historically predominant hydroelectric generation. Wind and solar power are abundant in areas thousands of miles north of metropolitan centers where it is mostly needed, industry officials said. New solar and wind plants are generally welcomed by environmentalists and can often offer much-needed income to small farms. Of this total, 83% is expected to come from renewable sources, including hydro, solar, wind and others.
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