Arafura Australia says South Korea and Germany are exposed to a rare earths shortage.
The United States, Japan and Australia are locking down rare earths supply, leaving industrial giants Germany and South Korea vulnerable, according to the CEO of Australia’s Arafura Rare Earths. This company is currently negotiating final agreements for supply. The U.S. is leading a global push to diversify supply chains and secure new sources of supply after China…
Deka, an investor, says Siemens Energy shouldn't'squander" its wind division
Siemens Energy shouldn't sell its wind division for less than?value. A top-20 shareholder made the statement on Thursday, at the annual general meeting of the group, where the future if the struggling business is a major topic. After U.S. activist investor Ananym called for a review of Siemens Gamesa in December, and a spin-off to boost shareholder value, the future of Siemens Gamesa has become more apparent.
Siemens Energy investors claim that the spin-off of wind units is premature
In response to an activist investor who called for a split-up, three major Siemens Energy shareholders said that the company should fix its?loss making wind turbine division first before considering a separation. Comments reflect the company's support for its strategy to stabilise the business before considering any strategic options. Ananym Capital, an activist shareholder from the United States…
Top Siemens Energy investors: Wind unit spin-off premature for now
Three of the largest Siemens Energy shareholders said that the company should fix its 'loss-making... wind turbine division, before considering a spin-off. They were responding to an activist investor who was pushing for a split-up. The comments show support for the current strategy of the company to stabilise the business and then look at strategic options.
Siemens Energy CEO: spin-off wind business idea is valid, but first turnaround must be achieved
Siemens Energy CEO, said on Tuesday that it is reasonable for activist investors Ananym Capital?to push?for the spin-off of a loss-making division of wind turbines?of the firm. Ananym, a U.S. company, said it took a stake in Siemens Energy in December and asked the management to review its wind division, Siemens Gamesa. It claimed that the division could be worth up to $10 billion and a spinoff would increase investor returns by 60 percent.
Siemens Energy CEO: spin-off wind business idea is valid, but first turnaround must be achieved
Siemens Energy CEO, said that it was reasonable for activist investor Ananym Capital to push for a spinoff of?its wind turbine division. However, the business must first be stabilized and turned around. Ananym Capital, based in the United States, announced in December that it had acquired a stake of Siemens Energy. The company asked management to review Siemens Gamesa's wind division.
Ananym Capital launches activist campaign after acquiring stake in Siemens Energy
The Financial Times reported that Ananym Capital owns a stake in Siemens Energy, a German company. It is pushing Siemens to separate its wind business. Ananym has 'launched a campaign of activism against the company,' FT reported, citing sources familiar with the issue. The stake was not disclosed. Charlie Penner and Alex Silver, a former P2 partner, founded the activist hedge fund last year.
Siemens Energy finds limited synergies in onshore and off-shore wind
Siemens Energy's CEO stated on Friday that there are few synergies to be found between its onshore wind unit and its better performing offshore units. This reflects the uncertainty surrounding the future of this loss-making division. Siemens Gamesa is Siemens Energy's wind turbine division, which produces both on- and offshore turbines. The division, still…
Octopus Energy, a British company, partners with a Chinese wind turbine manufacturer
Octopus Energy, Britain's biggest electricity supplier, has signed a contract with Chinese wind turbine maker Ming Yang Smart Energy. This could lead to the installation of the first Chinese-made turbines in Britain. The UK is trying to increase its renewable energy to meet climate targets, but it is also struggling with rising project costs as well as high electricity prices.
Nippon Steel to Supply Material for Vestas Wind Towers
Nippon Steel signed a cooperation memorandum with Denmark's wind turbine maker Vestas Wind Systems on Wednesday to supply steel for Vestas' wind towers for European, Asian and Japanese markets, Japan's industry ministry said.The agreement was part of a broader push by Japan's Ministry of Economy, Trade and Industry (METI) to strengthen the supply chain for wind generation…
Siemens Gamesa Lines Up 63-Turbine Order for German Offshore Wind Farm
Skyborn Renewables has confirmed the execution of the Turbine Supply Agreement (TSA) and the Offshore Long Term Program Service Agreement (LTPSA) with Siemens Gamesa for the provision of 63 SG 14-23 wind turbines and their long term service for the Gennaker offshore wind farm in Germany.Both agreements are based on the Master Supply Agreement signed by Skyborn and Siemens Gamesa in June 2024.
Siemens Gamesa and Japan's Industry Ministry agree to wind power cooperation
A ministry official announced that the Japan's Industry Ministry will sign an agreement on Tuesday with Siemens Gamesa Renewable Energy to create a framework of public-private collaboration aimed at creating local supply chains for offshore power. The official in charge of wind power at the Ministry of Economy, Trade and Industry told reporters that the government…
Siemens: Britain Needs Record Offshore Wind to Meet Targets
Britain’s next renewable energy auction must secure a record amount of new offshore wind capacity if the country is to meet its 2030 clean power targets, Darren Davidson, vice president of turbine maker Siemens Energy UK&I, told Reuters.The country has put offshore wind at the heart of its plans to decarbonise its electricity sector by 2030. It aims to boost capacity to 43-50 gigawatts (GW) by the end of the decade…
Siemens Energy sells a majority of its Indian wind unit to TPG, a TPG-led investor consortium
Siemens Energy said it will sell 90% its wind turbine business to an investor group headed by the climate investment division of TPG's buyout group. The move is part of a drive to focus on core markets. No financial details have been disclosed. Following the news, shares of Siemens Energy traded 3% higher by 0832 GMT. Siemens Energy said that as part of this deal…
Norway restarts wind farm after losing 22-ton Siemens Gamesa Blade
The owner of a Norwegian wind farm said that after a four month outage, a large Siemens Gamesa blade will be partially re-started on Monday.Odal Vind lost the 72-metre blade (236 ft), weighing 22 tons, in April. This loss highlighted the challenges Siemens Energy faces after it acquired full control of Spain’s Siemens Gamesa. Shareholders claim that the takeover…
Siemens Energy reports preliminary quarter revenue of approximately $9.4 billion
Siemens Energy, world's largest manufacturer of offshore wind turbines reported a preliminary revenue for the first quarter of 8,94 billion euros (9.37 billion dollars), an increase of 18.4% on a comparative basis, and slightly higher than consensus estimates. The preliminary order figures for the firm were 13.67 billion euro, which is 10.2% lower on a comparative basis. This figure was above estimates.
Japan selects two groups to participate in the third round of offshore wind power
In a third round of major public auctions, the Japan's land and industry ministries selected, on Tuesday, two consortiums as operators for offshore wind blocks, including one that included energy giant BP. Analysts in the industry said that domestic and international companies were watching closely to see how this round of competition, held under a new law encouraging wind power development, would affect their exposure to renewable energy.
Siemens Energy extends CEO Contract as Recovery Continues
Siemens Energy announced on Wednesday that it had extended Christian Bruch's contract for another five years. This is the latest indication that the power equipment provider has made a turnaround following a major wind turbine crisis. Bruch has been leading the former Siemens AG division, since 2020. Last year, a plan to buy the remaining shares of Siemens Gamesa, a wind unit, caused the company to be in turmoil because of quality issues.
Vestas Q2 loss increases, but the wind turbine unit turns a profit
Vestas, a Danish company, reported on Wednesday that its second-quarter loss had more than doubled from a year earlier. However, a focus on high-priced wind turbine projects has helped the division to return to profitability. The world's largest wind turbine manufacturer cut its profitability forecast for the full year, citing increased costs in its services business. It also warned of a loss in the second quarter.
Siemens Energy resumes the sale of its 4.X onshore turbine
Siemens Energy has announced that it has resumed the sales of the 4.X wind turbine which was at the center of its largest corporate crisis. This is a sign of the German energy group's full return to the onshore markets. A spokesperson for Siemens Energy responded to a question by saying that sales of the turbines in trouble have resumed, but will be limited to certain markets. She did not provide any further details.