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...The White House has set a goal of installing 30 gigawatts of offshore wind capacity by 2030 — enough to power 10mn homes — and has made the target central to its plans to slash carbon pollution....
...Last month, the president cited a new project from South Korean manufacturer CS Wind to expand wind power production in Colorado and pointed out that the plant was located in the district of GOP firebrand...
...power arm, Siemens Gamesa....
...Siemens Energy has said it is targeting €400mn of cost cuts at its struggling wind turbine business after huge losses forced it to take a €15bn government-backed bailout last week....
...Nearly two-thirds of the operating losses at Siemens Energy between 2020 and 2022, according to S&P Capital IQ, have stemmed from Siemens Gamesa....
...Siemens, whose largest device has a 14MW capacity, is also planning a prototype of what it claims will be the world’s most powerful wind turbine in Denmark....
...Siemens Energy also makes turbines for gas-fired power plants, electricity grid transformers and electrolysers. But Siemens Gamesa has proved a calamitous inheritance....
...“In a year of unprecedented challenges, Siemens Energy showed that turnarounds are achievable, with the businesses, excluding wind, meeting or exceeding their full-year targets,” said chief executive Christian...
...Shares in German manufacturer Siemens Energy, meanwhile, have fallen about 56 per cent since late June after a string of disappointing news stemming from technical problems with wind turbines produced by...
...The region-wide Stoxx Europe 600 lost 0.5 per cent, dragged lower by a 34 per cent decline for troubled wind turbine group Siemens Energy....
...Brussels has launched a subsidy investigation into Chinese wind turbine companies as it steps up efforts to protect its domestic industry from cheap competition....
...power and a model of globalisation....
...Taiwan wants to be a frontrunner in offshore wind power, making the most of its high wind speeds....
...The group added that “strong growth in order intake, particularly in the former gas and power business areas, leads to a rising need of guarantees for long-term projects.”...
...The Munich-based energy company has been in crisis since revealing huge losses at its wind turbine arm, Siemens Gamesa, in June. It is on course to record a €4.5bn loss for this year....
...Meanwhile, Siemens Energy revealed last month it was in talks with the German government over funding support as its wind turbine division, Siemens Gamesa, struggles with technical problems with its products...
...Germany’s Siemens Energy expects losses of €4.5bn this year after being engulfed by problems in its wind turbine business that had already wiped more than €6bn off the value of the company....
...In a speech at Princeton, Vestager said Brussels should move away from playing “whack-a-mole” with individual cases and instead use its full powers to defend its interest against unfair trade practices by...
...With more slack in its supply chain, solar now looks a better bet than wind. Wind and solar have suffered from similar difficulties. Post-Covid dislocation snarled up supply chains....
...Rival Siemens Energy is experiencing product failures that have resulted in a spate of profit warnings after its acquisition of Gamesa....
...Its rival Siemens Energy is experiencing product failures that have resulted in a spate of profit warnings after its acquisition of Gamesa....
...Siemens Energy also faces a battle to turn around its embattled turbine-making business....
...Ørsted is to press ahead with developing the world’s largest offshore wind farm in the North Sea after the UK increased financial support for the sector in a big boost for the Danish group after a string...
...These power-hungry operations will together consume more than 480 terawatt hours of electricity, or almost a tenth of total US power demand, by 2035, up from 4.5 per cent in 2025, according to S&P Global...
...grade rating from S&P....
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