Siemens Gas and Power GmbH & Co. KG (Siemens Energy) has successfully closed a three billion euros Sustainability Linked Syndicated Multi-Currency Revolving Credit Facility with an international consortium of banks. The loan amounts, whose interest rate is also linked to sustainability criteria, can be drawn in various currencies. The deal also incorporates a Swingline option of one billion euros for funds that can be drawn at very short notice.
- Low-loss transmission of wind
energy for 1.1 million households
- Further contribution toward
decarbonizing energy supplies
Siemens Energy is supplying the
high-voltage direct-current (HVDC) power transmission technology for a further
offshore connection in the German North Sea. A corresponding contract was just
signed by the German-Dutch network operator TenneT and the BorWin5 Offshore
Consortium, consisting of Siemens Energy and Dragados Offshore. In 2025, the
platform BorWin epsilon, which is part of the BorWin5 project, will begin the
low-loss transmission of electricity produced by the EnBW He Dreiht wind farm
off the island of Borkum to the Garrel/Ost converter station around 230
kilometers distant. The transmission capacity of 900 megawatts is calculated to
serve over 1.1 million households with electricity. The project is a further
contribution toward decarbonizing Germany’s energy supply. BorWin5 marks the
seventh HVDC offshore grid connection project undertaken by Siemens Energy in
Germany with TenneT.
- Siemens Energy to supply 20 compressor trains for a critical gas project in the Kingdom of Saudi Arabia (KSA)
- The project will enable the operator to manage its surplus gas volumes efficiently to meet seasonal demands
Siemens Energy was selected to provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. The plant includes a gas injection facility with a capacity of 1,500 million standard cubic feet per day (MMSCFD) (42,475,270 cubic meters per day, or m3/d) and a withdrawal facility capable of processing up to 2,000 MMSCFD (56,633,693 m3/d) of gas.
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- Extraordinary Shareholders’ Meeting to be held in virtual format
- Siemens AG to spin off 55 percent of Siemens Energy to shareholders
- One Siemens Energy share for every two Siemens shares
- Siemens Energy to start with S&P Global investment-grade rating of “BBB”
- Initial listing of new shares planned for September 28, 2020
Siemens shareholders will vote on the spin-off of Siemens AG’s energy business at an Extraordinary Shareholders’ Meeting today. Due to the restrictions imposed on public events by the coronavirus crisis, the shareholders’ meeting will be held in a virtual-only format – that is, without the shareholders or their proxies being present in person. To ensure complete transparency, a livestream at
www.siemens.com/agm-service will provide shareholders and their proxies with audio and video coverage of the entire event via the Internet. Siemens shareholders had until July 7, 2020, to submit questions electronically. The proposal to approve the Spin-off and Transfer Agreement that Siemens AG and Siemens Energy AG concluded on May 22, 2020, is the only item on the meeting agenda.
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.
- Spin-off approved by 99.36 percent of capital stock represented
- Capital Market Day for Siemens
Energy planned for September 1, 2020
As expected,
a large majority of Siemens shareholders at today’s Extraordinary Shareholders’
Meeting voted to approve the spin-off of the company’s energy business to Siemens
Energy AG. This step paves the way for the establishment of an independent
company rigorously focused on the energy sector. In the future, Siemens AG will
concentrate on Digital Industries, Smart Infrastructure and Siemens Mobility. In total, 61.94 percent of the capital stock of Siemens AG entitled to vote was represented at
the shareholders’ meeting, which was held as a virtual event due to the coronavirus
crisis. Approval of the Spin-off and Transfer Agreement between Siemens AG and Siemens
Energy AG was the only item on the meeting agenda. The agreement was approved by a
majority of 99.36 percent of
the capital stock represented. The highest number of participants following the
Extraordinary Shareholders’ Meeting online was 3,870.
- Assistance sought from the state of NRW, the federal government, and the EU
- Lighthouse project for the energy transition with international appeal
In planning, building, and operating an energy farm on the grounds of Nivelsteiner Sandwerke, the city of Herzogenrath plans to cover its energy demand with zero CO2 emissions by 2030. The signing of a cooperation agreement between GREEN Solar Herzogenrath GmbH and Siemens Energy has now marked an important milestone in achieving this goal. Based on this agreement, the partners will develop an economically viable concept aimed at seeking available funding from the state of North Rhine-Westphalia, the federal German government, and the EU for the long-standing mining region between Aachen, Germany, and the Netherlands.
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.
- Siemens Energy launches "Future of Storage" initiative to
promote sustainable energy systems
- Ecosystem of technology partners for energy storage solutions
created
- Long-term cooperation with Norwegian EnergyNest on thermal energy
storage
Siemens Energy has launched the "Future
of Storage" initiative. The aim of the initiative is to bundle knowledge
and build an ecosystem of technology partners in order to offer energy storage
solutions tailored to customers' needs. Decarbonizing the world's energy
systems is one of the key goals of Siemens Energy. An essential component of
climate-friendly energy systems of the future will be efficient energy storage
systems - they compensate for the fluctuating feed-in of renewable energies and
stabilize the grids, making them a key driver of decarbonization.