Siemens Energy sees limited synergies between onshore and offshore wind

Siemens Energy’s CEO Christian Bruch said the company sees limited synergies between its offshore and onshore wind divisions, reflecting uncertainty over the struggling onshore unit. Siemens Gamesa, the company’s wind arm, posted a €1.36 billion operating loss for the fiscal year ending September, still recovering from a quality crisis two years ago.

Bruch emphasized that offshore wind remains strong, with Siemens Gamesa leading the market, while onshore performance is uncertain due to market pressures and halted turbine sales, News.Az reports, citing Reuters.

Despite investor calls to sell the weaker onshore business, Siemens Energy plans to turn the division around, expecting it to break even by 2026.

News.Az