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•  “Brain” for 900-megawatt EnBW He Dreiht wind farm in the North Sea
• Provision of control technology, central IT network, cybersecurity solutions, and long-term service
• Contributes to carbon neutrality in the power supply 

Siemens Energy is supplying its control system to an offshore wind farm for the first time. The system which has already been established in conventional power plants, will be the “brain” of the 900-megawatt EnBW He Dreiht wind farm being built approximately 90 kilometers northwest of the German North Sea coast off the island of Borkum. Along with the control technology for switchgear and secondary systems, Siemens Energy is supplying the central IT network, including cybersecurity solutions, and has also signed a long-term service agreement with EnBW. 

Siemens Energy AG intends to appoint KPMG as independent auditor for the annual and consolidated financial statements starting with fiscal year 2024. The company plans to submit a corresponding proposal to be voted on by its shareholders at the Annual General Meeting for fiscal year 2024. This has been approved by the Supervisory Board of Siemens Energy AG in the meeting on September 21st based on the recommendation of the Audit Committee.

Siemens Energy AG has successfully placed subordinated mandatory convertible notes with an aggregate principal amount of EUR 960 million. The notes will be convertible into newly issued or already existing registered no-par value shares of the company. Pre-emptive rights of the company’s shareholders to subscribe for the notes were excluded.

• Combined cycle power plant for Italian utility EP Produzione
• Significant CO2 savings by applying highly efficient HL-class gas turbine technology
• No river water needed for cooling the power plant

Siemens Energy will build a state-of-the-art combined cycle power plant on a turnkey basis in Ostiglia in Lombardy. The plant will make a significant contribution to reducing CO2 emissions in Italy, thanks to its high efficiency and low CO2 emissions compared with coal- or older gas-fired power plants. It will also be capable of reliably balancing the fluctuating feed-in from renewables like wind and solar power plants to the grid. The project is being executed in a consortium with Italian engineering, procurement, and construction (EPC) companies Fata S.p.A. and Demont s.r.l. The utility EP Produzione S.p.A. is owner and operator of the plant.

• Anne-Laure de Chammard will lead the Business Area Transformation of Industry
• Vinod Philip assumes board responsibility on Global Functions
• 5 nationalities will be represented on the board

Following the new organizational structure of Siemens Energy the Supervisory Board of Siemens Energy AG has appointed two new Executive Board members for Siemens Energy. Effective November 1, Anne-Laure de Chammard will be responsible for the Transformation of Industry Business Area. Vinod Philip, currently Head of Strategy and Chief Technology Officer, will be responsible for the Management of Global Functions (such as IT, Procurement, Innovation, Project execution among others), effective October 1.

The German-Dutch grid operator TenneT has commissioned Siemens Energy to supply three grid stabilization systems for the German power grid. Such solutions are necessary because conventional power plants not only generate electricity but also automatically stabilize the grid (via their physical behavior). As more and more conventional power plants are taken off the grid and replaced by electricity from decentralized renewable energy sources as part of the energy transition, transmission system operators will have to find alternative solutions to transport more energy while maintaining overall stability. Two of the three systems are synchronous condenser. A synchronous condenser essentially consists of a generator and a flywheel. The generator sets the flywheel in rotation. As a result, kinetic energy is stored that can then e.g. feed active power into the grid for stabilization when needed. Siemens Energy will build the synchronous condenser in Großkrotzenburg (Hesse) and Würgassen (North Rhine-Westphalia). TenneT is currently modernizing the substation in Würgassen, followed by Großkrotzenburg in the next years, to make them fit for the energy turnaround as important network hubs.

• Siemens Energy and Duke Energy have achieved the GUINNESS WORLD RECORDS title for the "most powerful simple cycle gas power plant"
• Siemens Energy's SGT6-9000HL turbine at Duke Energy’s Lincoln Combustion Turbine Station in North Carolina achieved an output of 410.9 megawatts
• Highly efficient and flexible gas turbine technology supports the expanding use of renewables

Duke Energy’s Lincoln Combustion Turbine Station, powered by Siemens Energy’s SGT6-9000HL (60-Hz) turbine, has been certified with the official GUINNESS WORLD RECORDS title for the “most powerful simple-cycle gas power plant” with an output of 410.9 megawatts.

• In the recent quarter, Gas and Power (GP) achieved another solid performance despite unfavorable geopolitical and macroeconomic factors which continue to impact Siemens Energy’s business development overall. While both segments faced strong headwinds from increased material and logistic costs as well as supply chain constraints, GP demonstrated resilience due to stringent measures taken based on its operational excellence program.
• Siemens Energy started the restructuring of its business activities in Russia in the third quarter which burdened the result of GP by €0.2bn, reported as strategic portfolio decisions under special items. These restructuring activities are expected to be concluded by end of this fiscal year without further significant financial impact.
• Orders continued to be strong with growth of 60.0% year-over-year on a comparable basis (excluding currency translation and portfolio effects). Both segments contributed to the increase, resulting in third quarter orders of €9.8bn driving order backlog to another record of €93.4bn.
• Revenue of €7.3bn was down by 4.7% on a comparable basis as growth at GP was more than offset by a decline at Siemens Gamesa Renewable Energy (SGRE).
• Despite burdens from supply chain constraints, GP reported a positive Adjusted EBITA before special items of €212m nearly on prior-year quarter’s level. Due to the high loss at SGRE, Siemens Energy’s Adjusted EBITA before special items was negative €131m (Q3 FY 2021: positive €54m). Special items amounted to negative €298m (Q3 FY 2021: negative €178m) largely related to the restructuring of business in Russia. Adjusted EBITA for Siemens Energy came in at negative €429m (Q3 FY 2021: negative €124m).
• Accordingly, Siemens Energy’s Net loss was €533m (Q3 FY 2021: negative €307m). Corresponding basic earnings per share (EPS) were negative €0.54 (Q3 FY 2021: negative €0.32).
• Free cash flow pre tax decreased to negative €25m (Q3 FY 2021: positive €328m) driven by SGRE while GP exceeded the strong prior-year quarter’s level.
• On May 21, 2022, Siemens Energy AG announced a voluntary cash tender offer to acquire all outstanding shares in Siemens Gamesa Renewable Energy S.A., i.e., approximately 32.9 percent of the share capital, which Siemens Energy AG does not already own. The minority shareholders will be offered €18.05 per share in cash. Following a successful closing of the transaction, Siemens Energy AG intends to pursue a delisting of Siemens Gamesa Renewable Energy S.A. from the Spanish stock exchanges, where it currently trades as a member of the IBEX 35 index. In June 2022, a €1.15bn cash deposit was pledged in favor of the Spanish National Securities Market Commission which reduced Siemens Energy’s Net cash position at the end of recent quarter.

• Although further negative effects associated with geopolitical and macroeconomic challenges cannot be ruled out, management still expects to achieve its outlook given for GP and Siemens Energy excluding effects from lost revenue in connection with business in Russia for comparable revenue growth. Net loss of Siemens Energy in fiscal year 2022 is expected to exceed prior year’s net loss approximately by the impact from the restructuring of business in Russia reported as special item.

Christian Bruch, President and Chief Executive Officer of Siemens Energy AG: “Our Gas and Power business has once again delivered in the recent quarter and thus proven its resilience. Despite unprecedented macroeconomic challenges, we see sharply higher order volumes with growing demand for our technologies to facilitate the energy transition. On top of maneuvering the daily operations, the Gas and Power team started to set the course for a new organizational structure aimed at significantly reducing complexity and shortening the decision-making processes. And yet there are also again drawbacks in the third quarter. Siemens Gamesa continued to experience high losses in a challenging market environment. The poor performance at Siemens Gamesa had a negative impact on our overall results. We expect the new management at Siemens Gamesa now to implement a rigorous turnaround plan. During the quarter we launched a cash tender offer for the outstanding minority shares in Siemens Gamesa with the intention to delist and fully integrate its operations”

• Siemens Energy joins the AWS Partner Network as a Technology Partner to provide customers with industrial cybersecurity, analytics, and storage solutions
• Siemens Energy’s AI-driven Managed Detection & Response (MDR) solution is a first of a kind security offering available in AWS Marketplace built for energy and utilities, by an integrated energy technology company focused across the entire energy value chain
• MDR’s monitoring and detection insights provide scalable protection against disruptive cyberattacks in the energy sector using innovative artificial intelligence

Company Joins AWS Partner Network to Provide Customers with Industrial Cybersecurity Solution to Ensure Reliable Electricity and Fuel Supplies