Siemens Energy is reviewing the structure of its wind unit Siemens Gamesa Renewable Energy (SGRE) after the company reported a net loss of €4.6 billion ($5 billion) in 2023.
The loss was attributed to a number of factors, including rising costs, supply chain disruptions, and project delays.
Siemens Energy is considering a number of options for SGRE, including selling the unit off entirely. The company is also considering splitting SGRE into two separate units, one for onshore wind and one for offshore wind.
Siemens Energy’s decision to review SGRE’s structure comes as the wind energy industry is facing a number of challenges.
The cost of wind turbines has been rising, and there has been a slowdown in new project approvals. Additionally, the wind energy industry is facing increased competition from other renewable energy sources, such as solar power.
Despite the challenges facing the wind energy industry, Siemens Energy remains committed to the sector. The company sees wind power as a key part of its future growth strategy.
The review of SGRE’s structure is expected to take several months. Siemens Energy has not yet made a decision on the future of the unit.
Here are some additional details about Siemens Energy’s review of SGRE:
Siemens Energy is considering selling SGRE to a private equity firm or a strategic investor.
Siemens Energy is also considering spinning off SGRE as an independent company.
Siemens Energy is not considering selling SGRE to a competitor.
Siemens Energy is still committed to the wind energy industry.
Siemens Energy expects the review of SGRE’s structure to be completed by the end of 2023.
The future of SGRE is uncertain, but the company is a key player in the wind energy industry.
The outcome of Siemens Energy’s review of SGRE’s structure will have a significant impact on the future of the company and the wind energy industry as a whole.