- First Siemens Energy electrolysis project in China
- Cooperation with SPIC on green hydrogen
- Lighthouse project for ongoing energy transition
Siemens Energy and Beijing Green Hydrogen Technology Development Co., Ltd., a subsidiary of China Power International Development Ltd. (China Power), signed an agreement on providing a hydrogen production system for a hydrogen fueling station. Located in Yanqing District, Beijing, one of the three main competition areas for a major sporting event in 2022, the green hydrogen production solution provided by Siemens Energy will help guarantee the hydrogen supply for the public transportation during and after the event. The megawatt green hydrogen production solution is the first of its kind to be built by Siemens Energy in China. The project is expected to be delivered in May 2021.
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.
- Medical equipment from Siemens Healthineers on the way
- Siemens Energy to deliver and run two A45-GT gas turbines in Beirut
- Free use for one year to support population worth about US$40 million
- Siemens CEO Joe Kaeser with German Foreign Minister Heiko Maas in Beirut
Siemens is helping the people of Lebanon rebuild in the wake of the tragic catastrophe of August 4. The company is quickly providing the stricken population with ultrasound systems and a mobile X-ray unit. In addition, Siemens Energy is offering to deliver and operate two gas turbines with a total electrical capacity of about 80 megawatts (MW) free of charge.
- 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.
- SPIC to acquire 33% of GNA I and GNA II 3 GW LNG-to-power projects
- Enter agreement to participate in future expansion projects GNA III and GNA IV as part of overall 6.4 GW power and domestic gas hub strategy at Port of Açu
Prumo, a private Brazilian company controlled by EIG Global Energy Partners, bp and Siemens signed a binding agreement with SPIC Brasil. Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects, located in Port of Açu, Rio de Janeiro. SPIC has also entered into an agreement to participate in the future expansion projects GNA III and GNA IV, which are expected to be fueled by a combination of LNG and domestic gas from Brazil’s vast pre-salt reserves.
We released our third quarter results for fiscal year 2020 on August 6, 2020. The Conference Call for journalists and the Analyst Call were broadcast live.
- Adjusted EBITA in Industrial Businesses climbs 8 percent to €1.8 billion
- Adjusted EBITA margin rises to 14.3 percent
- Strong free cash flow of more than €2.1 billion in Industrial Businesses providing liquidity and security
- Orders down 7 percent to €14.4 billion and revenue down 5 percent to €13.5 billion year-over-year
- Global uncertainties continuing in Q4
Despite major uncertainties due to the global COVID-19 pandemic, Siemens AG maintained its course very successfully in Q3 of fiscal 2020, both strategically and operationally. In a challenging macroeconomic environment, the company’s Industrial Businesses generated a strong EBITA margin of 14.3 percent. Adding 1.7 percentage points to this margin was a positive effect of €211 million at Digital Industries. Siemens successfully avoided major supply chain bottlenecks in connection with the COVID-19 crisis despite taking precautionary measures, which were in some cases substantial, to prioritize workforce health and safety. With free cash flow of more than €2.1 billion in its Industrial Businesses (€2.5 billion at Group level), Siemens has sufficient liquidity to master the COVID-19 crisis effectively – or to emerge from it even stronger than before.
- Klaus Helmrich to retire at end of March 2021 after 35 years at Siemens
- Cedrik Neike to succeed Helmrich as Managing Board member responsible for Digital Industries, effective October 1, 2020
- Matthias Rebellius to succeed Neike as Managing Board member responsible for Smart Infrastructure, effective the same date
- Effective October 1, 2020, Roland Busch to assume responsibility for fiscal 2021 as previously announced; Joe Kaeser to actively support transition and hand over CEO role to Busch upon completion of Annual Shareholders’ Meeting in 2021
- Succession process now concluded for Siemens AG’s leadership team with new Managing Board set up under leadership of Roland Busch, effective October 1, 2020, to lead next phase of Siemens’ transformation
Klaus Helmrich (62), the Managing Board member responsible for Digital Industries (DI), will retire upon expiration of his contract at the end of March 2021 after 35 years at the company. Cedrik Neike (47), the Managing Board member currently responsible for Smart Infrastructure (SI), will succeed him as of October 1, 2020. Matthias Rebellius (55) – currently SI’s Chief Operating Officer (COO) – has been appointed to the Managing Board and will assume responsibility for this unit.