Siemens Energy’s Chairman Addresses State Support Negotiations and Wind Energy Difficulties

DThe chairman of Siemens Energy’s supervisory board, Joe Kaeser, is trying to calm the situation after it became known that the company was negotiating with the federal government about state support. “When you read ‘state aid’ as an investor, panic is inevitable. “Especially in an already highly nervous market,” Kaeser told WELT AM SONNTAG.

The talks with the federal government are simply about guarantees to support Siemens Energy’s growth. “The company clearly does not need any money from the state,” emphasized Kaeser.

Kaeser once again admitted significant problems with Siemens Energy’s wind energy business. “When there is wind, the situation is very serious. The entire industry is making horrendous losses,” he said. It is a young industry that has not yet been consolidated.

“Back then, we tried to start consolidation by merging with Gamesa,” said Kaeser. “Poor integration and a large number of product announcements have prevented success and, in addition to the industry problems, led to a particularly serious situation at the wind subsidiary, which is now even hindering the entire Siemens Energy company. Management must now solve this problem in a focused and sustainable manner. Either way.”