- Siemens Energy delivers another highly efficient combined cycle power plant to Marl
- Evonik replaces old backup gas power plant
- Siemens Financial Services arranges customized financing
Siemens Energy is building
another highly efficient combined cycle power plant for the specialty chemical
company Evonik at its largest industrial location in Marl, North
Rhine-Westphalia, Germany. Consisting of one SGT-800 gas turbine, one SST-400
steam turbine, and two generators, the plant will produce power and heat with
90 megawatts of electrical capacity and 220 megawatts of thermal capacity. It
will go into operation in 2022 replacing a backup gas power plant. Along with
the power plant components, Siemens Energy is also supplying the SPPA-T3000
control system for controlling the cutting-edge plant. A long-term service
agreement between Siemens Energy and Evonik will ensure the availability of the
power plant and its components.
The information contained herein is not for
publication or distribution, directly or indirectly, in or into Australia or
any other jurisdiction where to do so would be prohibited by applicable law.
- Siemens AG to spin off 55 percent of Siemens Energy to Siemens shareholders
- Plans call for further reducing Siemens’ stake significantly within 12 to 18 months after spin-off’s effective date
- Siemens AG contractually obligated to ensure Siemens Energy’s autonomy and independence
- Siemens Energy to have strong capital and liquidity base; solid investment-grade rating targeted
- Initial listing of new shares planned for September 28, 2020
Siemens AG has today published key details of the spin-off of its energy business, together with the invitation to the Extraordinary Shareholders’ Meeting on July 9, 2020. Issuance of the spin-off report marks another key milestone in the creation of an independent, world-leading energy pure play. Siemens shareholders are to automatically receive one share of Siemens Energy AG for every two shares of Siemens AG. Fifty-five percent of Siemens Energy will be spun off to Siemens shareholders. Depending on the strategic and operational development of the two companies, Siemens AG intends to further reduce its stake in Siemens Energy significantly within 12 to 18 months. In addition, Siemens has placed itself under a contractual obligation to refrain from exercising a controlling influence over the new company in the future. Subject to approval by the Extraordinary Shareholders’ Meeting, plans call for the spin-off to take place, as announced, by the end of September 2020. The initial listing is to take place on September 28th, 2020.
- Turnkey construction of two 90 MW power plant units
- Production of process steam and district heat
- Annual savings of up to 1 million metric tons of CO2
Siemens will build a highly efficient combined cycle power plant as a turnkey project at the Marl Chemical Park in North Rhine-Westphalia, Germany. The order was placed by the specialty chemical group Evonik Industries. The new industrial power plant will consist of two units, each with an electrical capacity of 90 megawatts, and produce both electricity and process steam for the chemical park. The site’s integrated steam network will also supply district heat for about 2,000 homes in the future. The plant’s fuel efficiency will thus exceed 90 percent. With this combined cycle power plant, Evonik will replace its last coal-fired plant at the Marl Chemical Park. Because the plant will produce environmentally friendly electricity, process steam, and district heat from natural gas, the company will be able to cut CO2emissions by one million metric tons per year. The plant thus makes an important contribution to decarbonization. Construction is scheduled to begin later in 2019, and the power plant is expected to go into operation in 2022. Siemens Financial Services (SFS), Siemens’ financing arm, developed a leasing financing solution specifically for Evonik in collaboration with Siemens Gas and Power. Together with the KfW IPEX Bank and LBBW, SFS will handle refinancing of the leasing agreement. The project volume is in the lower triple-digit million euro range.
- About one sixth of all electricity generated worldwide is based on Siemens Energy technology
- Leading portfolio from conventional to renewable energy
- Clear commitment to accelerate profitability by rigorously driving operational excellence, portfolio adjustments and gradually shifting innovation focus towards sustainability and service
- Clear target for Adjusted EBITA margin (before Special Items) of 6.5 to 8.5% for fiscal year 2023
At a virtual capital market day, Siemens Energy, a world leader in energy infrastructure, today laid out its post-spin-off strategy. Siemens Energy is aiming for accelerated profitable growth. Management aims to achieve an Adjusted EBITA margin before Special Items of 6.5% to 8.5% for fiscal 2023. The Executive Board is committed to drive operational excellence, portfolio adjustments to meet market demand and gradually shift the focus of innovation and R&D to sustainability and service.
- New combined cycle power plant Yerevan 2
- Plant operation and maintenance for 20 years
- Siemens to hold equity in special-purpose project company
Siemens will supply a complete power island for the new Yerevan 2 combined cycle power plant at the existing plant site in the Armenian capital. The company will also operate and maintain the plant for a period of 20 years. Siemens Financial Services (SFS) – Siemens' financing arm – holds a 40 percent share in the special-purpose project company ArmPower founded specifically for this project. Yerevan 2 is the largest single order that Siemens has ever received from Armenia.
- Turnkey construction and operation and maintenance for 20 years
- Order worth about €450 million
- 40 percent equity participation during project development phase
Siemens will build a new combined cycle power plant as a turnkey project in Landivisiau in western France. The company will also operate and maintain the plant for a period of 20 years. With an installed capacity of 446 megawatts, the power plant will help to reliably cover Brittany's growing demand for electricity. The order volume is approximately €450 million. Siemens Financial Services (SFS), the financing arm of Siemens, held an equity stake in the project, ensuring stability during the entire development phase.
The information contained
herein is not for publication or distribution, directly or indirectly, in or
into any jurisdiction where to do so would be prohibited by applicable law.
- Long-term “BBB” issuer rating,
outlook stable
- S&P praises low indebtedness and
extensive liquidity
- First listing for Siemens Energy still
planned for September 28, 2020
In its first
credit rating, Siemens Energy AG, which will soon be operating as an
independent entity, has earned a solid investment grade rating from the S&P
Global rating agency (S&P). The company received a long-term issuer rating
of “BBB” with a stable outlook. The raters particularly praised the company’s
broad base in the energy sector, its low level of debt, and its extensive
liquidity.
- Finance proves crucial for Siemens Gamesa customers across the globe
- Preferred finance agreement with Siemens Financial Services offers bundled equipment, service and capital solutions for wind industry
- Bosco Le Piane project in Italy benefits from collaboration
Helping wind energy customers overcome funding obstacles, Siemens Gamesa Renewable Energy has teamed up with Siemens Financial Services (SFS) to offer bundled solutions that include equipment and service with financing options. Finance is one of the biggest barriers facing clients as it varies from market to market, and the ability to offer financial solutions has proved to be a win-win in bringing clean energy projects online for Siemens Gamesa customers worldwide. Most recently, the Bosco Le Piane wind project in Italy benefited from this Siemens Gamesa-SFS collaboration. This is the fourth large-scale onshore wind farm in Italy financed by SFS in support of key clients that incorporate Siemens Gamesa technology. The other projects were Melfi, Tricarico and E-Vento.
- First order from Asia for HL-class gas turbine
- New power plant with a capacity of more than one gigawatt
- Efficiency rating of more than 63 percent
Siemens will set up a high-efficiency HL-class power island for a new combined cycle power plant (CCPP) in South Korea. This will be the first two state-of-the-art HL-class gas turbines that Siemens will supply to a customer in Asia. The new plant, which will be built in Yeoju, in South Korea’s Gyeonggi Province, will run on regasified liquefied natural gas (LNG) and offer a generating capacity of more than one gigawatt. With a maximum efficiency rating of more than 63 percent the gas turbine will allow the power station to get the most out of the valuable LNG for electricity generation, enabling especially economical and environmentally friendly operation. The customer is South Korean EPC SK Engineering & Construction Co., Ltd., which is constructing the entire plant for the independent power producer Yeoju Energy Services.
- Innovative energy and infrastructure concept for the Rhenish mining area in Germany showcasing a model for Europe
- Emission-neutral coupling of the energy, mobility, logistics and industry sectors in Kerpen by 2032
The Kolping city of Kerpen, located in the German Rhine-Erft district, is planning to become a highly modern innovation center and a technology nucleus in the Rhineland region by 2032 within the framework of the "SpeicherStadtKerpen" project. With the signing of the cooperation agreement by partners innogy Westenergie, Siemens Energy and Stadtwerke Kerpen, the Kolping city with its approximately 70,000 inhabitants has reached another important milestone for this ambitious future project.