Siemens Energy's Green Energy Projects Secured with Rescue Loans
The German government has agreed to provide €7.5 billion in loan guarantees to Siemens Energy, a major manufacturer of wind farms, as part of a €15 billion financial package aimed at supporting the company's participation in large renewable energy projects. Siemens Energy, a critical player in Germany's energy transition, has been facing financial difficulties, highlighting the challenges faced by renewable energy equipment makers in securing investment funds. The company's subsidiary, Siemens Gamesa, has encountered problems with some of its wind turbines, leading to significant repair costs. Siemens Energy will announce its earnings for the fiscal year that ended on Sept. 30, with a large loss expected.
- Germany’s Siemens Energy Secures Rescue Loans for Green Energy Projects The New York Times
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