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- 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.
- Heavy shipment of the first HL-class with 50 Hertz frequency sets sail for the UK
- Powerhouse unit from Berlin heads for one of the world’s most efficient combined cycle power plants
The largest, most powerful, and most efficient heavy-duty gas turbine that Siemens has produced to date was loaded onto an inland cargo ship today in Berlin, where it set off on its journey for Keadby, Lincolnshire, in the UK to be tested in a power plant of UK energy generator SSE Thermal. Built by Siemens Gas and Power in its Berlin factory and destined for the 50-Hertz market, the powerhouse known as SGT5-9000HL measures 13 meters in length, five meters in height, five meters in width, and weighs nearly 500 metric tons. After the recent first fire and synchronization to the grid of its first 60-Hertz version in a power plant in the United States, Siemens reports this second milestone for its latest HL-class within several weeks.
- Siemens Gas and Power to supply three 33-MW industrial gas turbines to Ascend’s Decatur, Alabama facility
- The project will enable the chemical materials manufacturer to increase operating efficiency and reduce its environmental footprint
Siemens Gas and Power was recently selected to provide three 33-megawatt (MW) SGT-700 industrial gas turbines, including a Long-Term Program (LTP), with Ascend Performance Materials’ nylon intermediate and specialty chemicals facility in Decatur, Alabama. This project will allow Ascend Performance Materials to retire assets that currently provide process steam for the facility. The shift to gas turbines for steam generation is part of Ascend’s long-term sustainability strategy to improve its environmental footprint and accelerate the growth of expanding its core businesses.
- Two SGT-400 gas turbine compression packages sold for U.S. pipeline service
Siemens Gas and Power was awarded a contract to supply two SGT-400 gas turbine compression packages for Midcoast Energy, LLC’s CJ Express pipeline expansion project in east Texas. WHC Energy Services, supported by Universal Pegasus International, will be the engineering, procurement and contracting (EPC) provider for the pipeline expansion project.
- Cooperation agreement on using “green hydrogen” and promoting sector coupling
- Joint projects for the conversion of power plants
- Share of “green gas” to be gradually increased
Today,
Uniper and Siemens Gas and Power signed a cooperation agreement for the
development of projects on the decarbonization of power generation and
promoting sector coupling. It extends the long-standing partnership between the
two companies. It is important to look at the energy, mobility and industry
sectors together, because they all can and must contribute to reducing
greenhouse gases. One focus of the planned cooperation is the production and
use of “green hydrogen” – in other words, hydrogen from renewable energy
sources. The companies intend to implement projects in this field together,
addressing the entire value chain.
- Five industrial gas turbines for peak load and backup power plant
- Strengthening the power grid
For the third time in three months, Siemens has received an order from Belarus to supply SGT-800 industrial gas turbines. The new order covers five gas turbines, including associated auxiliary and electrical systems, for a peak load and backup power plant. The new plant will be built at the existing power plant location of the Berezovskaya combined heat and power plant in Beloozersk, Brest Region, in the south-western part of the country. The order was placed by Brest Republican Unitary Enterprise of Electricity Industry (Brestenergo). With an electrical capacity of 254 megawatts, the new plant will help further strengthen the power grid’s reliability and stability. Commissioning is scheduled for December 2021.
Siemens was awarded a contract to supply three boil-off compressor (BOG) packages for Venture Global’s Calcasieu Pass LNG Project. The new LNG export facility, Calcasieu Pass, is currently under construction in southwestern Louisiana’s Cameron Parish, approximately 50 miles south of Lake Charles. Once fully commissioned, the facility is expected to produce 10 MTPA of clean liquefied natural gas that will be exported to global markets.
- First-of-its-kind drilling rig project will implement customized BlueDrive™ system to replace obsolete system
- New system will use existing footprint, cabling and communication points for greater safety and quick commissioning
Siemens was awarded a contract by Arabian Drilling Company to modernize a complete and integrated drilling-drives lineup, including auxiliaries and controls, that will be installed on an offshore jackup drilling rig for a customer in the Middle East. In addition to new features and benefits, the upgrade will also enable the customer to meet the latest safety standards. Delivery of the new system is planned for the early part of 2021.
- Supply of six SGT-800 industrial gas turbines
- Increases grid reliability and flexibility
- Supports the transition to a new energy mix in Belarus
Siemens has received another order from Belarus to supply equipment for a peak load power plant. The order was placed by the state-run energy provider RUE Minskenergo. The six SGT-800 industrial gas turbines, like the five machines of the same type that Siemens is supplying for the Vitebsk region, will increase the grid’s reliability and flexibility and support the transition to a new energy mix in Belarus. Commissioning is scheduled for December 2021.
Effective
February 1, 2020, Michael Hagmann (53) will be responsible for setting up
Siemens Energy’s Investor Relations Department. He will report directly to
Michael Sen, designated CEO of Siemens Energy.