A major shareholder has warned Siemens Energy AG against selling its struggling wind division, saying the company should not “squander” the business at a discount.

Siemens Energy AG is focusing on significant cost reductions and accelerating its offshore wind activities to achieve profitability at its struggling Siemens Gamesa division, company executives revealed during a recent analyst briefing.

Europe's energy sector relies too much on China to entertain the idea of de-risking, the CEO of Siemens Energy said, reflecting the dilemma of an industry in need of supplies from the world's No.2 economy - but not the competition that comes with it, News.az reports citing Reuters.