Shanghai Electric and Mitsubishi interested to acquire Siemens Gamesa

10 Dec 2020 CW Staff

The share prices of Madrid based wind OEM Siemens Gamesa rose after the circulation of reports that Asian giants Shanghai Electric and Mitsubishi were targeting it for an acquisition. The share prices of Siemens Gamesa, were 3% higher during the course of early afternoon trading in Madrid, outranking the slightly down IBEX 35 market in the process. Germany-based Siemens energy owns about 67% of the company.

The report shed light on Siemens Energy’s prevalent relationship with Siemen Gamesa as a grantor of offshore wind technology. The report also noted Mitsubishi Heavy’s recent verdict of divesting their half-share in offshore OEM MHI Vestas to Vestas, their Danish partner.

Despite its onshore wind wing suffering high-profile issues over the last few years, Siemens Gamesa continues to be the world leader with respect to the supply of offshore turbines. In Spite of registering a full-year loss of $1.08 billion in the last year, the company has a record order book worth $36.63 billion to its name.

Any comprehensive discarding of Siemens Gamesa is poised to leave a conspicuous hole in Siemen Energy’s overall green capabilities that was given birth to this year to accommodate the German industrial giant’s growing energy interests.

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