Shanghai Electric and Mitsubishi interested to acquire Siemens Gamesa
POWER & RENEWABLE ENERGY

Shanghai Electric and Mitsubishi interested to acquire Siemens Gamesa

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.

Image Source

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. Image Source

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?