26 Oct, 23

Siemens Energy Shares Crash 37% As It Reports Wind Turbine Quality Issues

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Siemens Energy shares in Germany crashed on Thursday after the company warned its wind turbine business is grappling with quality issues and offshore ramp-up challenges. The company said it’s evaluating various measures to strengthen its balance sheet and is discussing state guarantees with the German government. This comes as a financial crisis in offshore wind energy is brewing.  Siemens Energy said the wind business Siemens Gamesa “is working through the quality issues and is addressing the offshore ramp up challenges as…

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