Wind energy is at the center of the transition to a less carbon-intensive and more sustainable energy system. Although the share of renewables in global electricity generation is rising, renewable power as a whole still needs to expand to meet decarbonization targets set by governments around the world. Siemens Energy is committed to driving this potential into real growth for the future of renewable power and offers a whole range of power transmission equipment, grid access solutions and services for the wind industry.
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Siemens Energy compressors will be used at Occidental’s first large-scale Direct Air Capture (DAC) plant in Texas’ Permian Basin developed by 1PointFive, a subsidiary of Occidental. The two compressor packages will enable the plant to capture up to 500,000 metric tons of CO2 per year when fully operational. The announcement was made today by Siemens Energy President and CEO Christian Bruch and Occidental President and CEO Vicki Hollub at the 41st annual CERAWeek energy conference hosted in Houston, TX, USA.
Danish energy company Ørsted is building
Europe’s largest commercial production facility for carbon-neutral marine fuels
in northeastern Sweden. At the
heart of the FlagshipONE plant is a technology package from Siemens Energy
comprising four proton exchange membrane (PEM) electrolyzers with a total
capacity of 70 megawatts, as well as the plant-wide electrification and automation
systems, including innovative digitalization solutions (such as the use of
digital twins), and the entire power distribution and compressor systems. The
plant, which is being built in the Swedish coastal town of Örnsköldsvik, will be able to produce up to 50,000 metric
tons of e-methanol per year from renewable energy and biogenic carbon dioxide
from 2025. As a substitute for fossil fuels, this can avoid
100,000 tons of CO2 emissions per year in shipping.
We released our first quarter financial results for the fiscal year 2022/2023 on Feburary 7, 2023 , at 06:30 AM CET. The Press Conference Call was broadcasted live at 07:15 AM CET.
the subdued overall economic development, Siemens Energy’s market environment
remained favorable. During the quarter, Grid Technologies (GT) was awarded the largest
offshore grid connection order in Siemens Energy's history. The platforms will
connect several offshore wind farms in the (German) North Sea to the onshore
Energy delivered strong order and revenue growth and better than expected cash
flow. A strongly improved operational performance at Gas Services (GS), GT, and
Transformation of Industry (TI) was more than offset by charges of €0.5bn at
Siemens Gamesa Renewable Energy (SGRE). During an evaluation of the installed
fleet, SGRE detected a negative development of failure rates in specific
components resulting in higher warranty and service maintenance cost assumptions.
continued to be very strong. Comparable growth (excluding currency translation
and portfolio effects) was 49.2% despite a high basis of comparison, resulting
in orders of €12.7bn, supported by large orders especially at GT. The Book-to-bill
ratio (ratio of orders to revenue) was 1.80 and the order backlog rose to
€98.8bn despite material negative currency translation effects.
- Revenue came
in at €7.1bn reflecting a 16.0% increase on a comparable basis. All segments
contributed to this growth.
Energy’s Profit before Special items was negative €282m (Q1 FY 2022: negative €69m)
due to the charges at SGRE. GS and GT reported sharp improvements year-over-year
and TI delivered a positive result. Special items were negative with €103m (Q1
FY 2022: positive €6m) mainly driven by restructuring costs at SGRE. As a
result, Profit for Siemens Energy was negative €384m (Q1 FY 2022: negative €64m).
Siemens Energy reported a Net loss of €598m (Q1 FY 2022: Net loss €246m).
Corresponding basic earnings per share (EPS) were negative €0.60 (Q1 FY 2022:
- Free cash
flow pre tax was negative with
€58m (Q1 FY 2022: negative €69m), mainly driven by cash outflows at SGRE.
Overall, the development was better than expected, supported by advance
payments from customers in relation to the strong order development.
- Due to the
aforementioned charges at SGRE, Siemens Energy had to adjust its outlook for
fiscal year 2023. Management now expects Siemens Energy Group’s Profit margin before
Special items between 1% and 3% and Net loss of Siemens Energy Group to be on
prior fiscal year’s reported level. Due to the better than expected cash flow
development during the quarter, management now expects Free cash flow pre tax
for fiscal year 2023 to be positive.
Christian Bruch, President and CEO of Siemens Energy AG:
order growth demonstrates that we have the right portfolio to capitalize on the
energy transition. Notwithstanding the charges at Siemens Gamesa, Jochen
Eickholt and his team are making progress in improving the sustainability of
the company. The intended delisting of Siemens Gamesa will further support the
team to focus on solving the operational problems and the turnaround.”
The Annual General Meeting 2023 of Siemens Energy AG will be held on Tuesday, February 07, 2023, 10:00 a.m. (CET).
Today the shareholders of Siemens Gamesa Renewable Energy,
S.A. (SGRE) have approved the delisting of the company from Spanish Stock
Exchanges at an Extraordinary General Meeting. 98.43% of shareholders voted
today in favour of the motion to delist the company. For the company to
actually be delisted, it still needs approval from the Spanish National
Securities Market Commission (CNMV).
- Consortium of Siemens Energy and Dragados Offshore will build converter systems for two offshore grid connection systems
- World's first order for 2-gigawatts grid connection at sea
- Contract represents the largest offshore grid connection order in Siemens Energy's history
In future, a single grid connection will
transport up to two gigawatts (GW) of offshore wind power to the onshore power
grid. This is made possible by converter systems provided by Siemens Energy and
Spanish company Dragados Offshore. The German transmission system operator
Amprion has awarded the world's first order for two of these systems to the
consortium. In total, up to four gigawatts of green electricity from several
offshore wind farms in the German North Sea can be transported to shore –
enough electricity to meet the needs of about four million people. The contract for
the consortium is worth a total of more than €4 billion including maintenance
for ten years. For Siemens Energy it is the largest
offshore grid connection order the company has received to date.