- Siemens supplies key components and long-term service for Sirajganj III combined cycle power plant
- Financial Services division provides up to USD80 million construction loan
Siemens Power and Gas (PG) Division recently received an order for the supply of key components for the Sirajganj III combined cycle power plant in Bangladesh providing a SGT5-2000E gas turbine and generator, as well as a long-term service contract for the project. Siemens' Financial Services Division (SFS) is contributing an up to USD80 million construction loan to support the project's successful and timely close. SFS is undertaking a primary/Mandated Lead Arranger (MLA) role in the transaction which is considered vital to the project's success. In addition, SFS demonstrated strong project support acting as one of only two international lenders participating in the Sinosure tranche. Sinosure is the national export agency of The Peoples Republic of China and provides export coverage to lenders to support long term lending in Bangladesh.
- Siemens Bank receives approval to operate as a merchant bank in Singapore
- Siemens becomes first industrial company to support its growth strategy in Asian and Australian markets with a local bank branch in Singapore
- Focus on project and structured finance lending business mainly in the business-to-business and business–to-government segments
The Monetary Authority of Singapore (MAS) grants approval for Siemens Bank GmbH Singapore Branch to operate as a merchant bank in Singapore. The new branch will cover financing activities for the Asia-Australia region. In addition to its main pillar, the loan and guarantee business, the branch will also provide selected finance advisory services for the Siemens group companies in Asia-Australia.
- Siemens outlines innovative ways and approaches to boost large-scale capital in infrastructure financing
- Convergence of disruptive technology and public-private partnerships identified as key drivers of narrowing Asia's infrastructure gap
- The way forward lies in analyzing completed projects, establishing stable risk-sharing and making procurement more transparent
Increasing the bankability of developments is a key factor to narrowing Asia's infrastructure gap, according to speakers at the "Drivers of Infrastructure Investment in the Asian Market" symposium organized by Siemens Financial Services (SFS) yesterday.
The discovery of the dynamo-electric principle has brought about greater changes to the way our society lives than practically any other scientific breakthrough. By inventing the dynamo machine, not only did Werner von Siemens help bring about the advent of electrical machinery, he was also instrumental in accelerating and facilitating industrial processes. Seen from the perspective of society, this completely changed accepted concepts of time and mobility.
In May 2014 Siemens, together with the public utilities of Mainz, Linde and the RheinMain University of Applied Sciences, has laid the foundation stone for a new type of energy storage system. Now, time has come: By pressing a symbolic button, the Chairman of the Board of Linde Group, Dr. Wolfgang Büchele, Siemens board member Professor Siegfried Russwurm, two board members of Stadtwerke Mainz AG, Detlev Höhne and Dr. Tobias Brosze, and Professor Dr. Detlev Reymann, President of RheinMain University, officially launched a hydrogen production plant at the Energiepark Mainz on July 2, 2015. With the support of the German Federal Ministry of Economics and Technology as part of the Energy Storage Funding Initiative the 17-million-project could be realized. The system, equipped with an electrolyzer from Siemens, will convert surplus electricity from wind farms to hydrogen from now on. In this way, it will be possible to store electricity from renewable sources over longer periods of time. With a peak rating of up to 6 megawatts the plant is the largest of its kind in the world.
The principle of electrolysis has been tried and tested for decades. What is special about the Mainz system is that it involves highly dynamic PEM high-pressure electrolysis which is particularly suitable for high current density and can react within milliseconds to sharp increases in power generation from wind and solar sources. In this electrolyzer a proton exchange membrane (PEM) separates the two electrodes at which oxygen and hydrogen are formed. On the front and back of the membrane are precious-metal electrodes that are connected to the positive and negative poles of the voltage source. This is where the water is split. The system in Mainz will thus have a capacity relevant for bottlenecks in the grid and small wind farms.
On the first day of Hannover Messe, April 25, Klaus Helmrich welcomed you to the yearly Siemens press conference. As member of the Managing Board of Siemens AG, Klaus Helmrich is responsible for the Divisions Digital Factory as well as Process Industries and Drives. The press conference took place at 6:30 PM, in room 1 of the fair's Convention Center.
Siemens Financial Services (SFS) has released new research examining how global manufacturers are using innovative finance to seize market opportunities through digitalization and automation. Conducted among manufacturing finance managers in 13 countries, the study found that manufacturers across the world are reporting a need to invest in new-generation technology in order to meet four key sector challenges.These are: to increase production capacity and flexibility to meet changing demand and drive sales; to improve client service quality while reducing production costs; to improve competitive positioning through improved product quality and broader product range and to optimize efficiency, cost control and manufacturing agility through automation and digitalization.