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- 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.
- 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.
- 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.
The information contained herein is not for publication or distribution, directly or indirectly, in or into any jurisdiction where to do so would be prohibited by applicable law.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.
- Siemens will upgrade control and protection system of Moyle Interconnector
- Refurbishment increases security of supply, improves integration of renewable energy and enhances provision of ancillary services
Siemens Gas and Power (Siemens Energy) has been awarded the project to refurbish the Moyle Interconnector, a high-voltage direct-current (HVDC) link between Ballycronan More in County Antrim, Northern Ireland, and Auchencrosh, Scotland. Owned and operated by Mutual Energy, the Moyle Interconnector control and protection system is almost 20 years old and is being modernized to enhance its operation. The refurbishment of the 500-megawatt interconnector will increase the security and reliability of the power supply to consumers in the United Kingdom. The project to upgrade the technology originally installed by Siemens in 2001 is now underway and the refurbishment is scheduled to be completed in September 2022.
Siemens Gas and Power has entered into an
agreement with Total, a broad energy group, to advance new concepts for green liquified
natural gas (LNG) production. As part of the contract, Siemens Gas and Power is
conducting studies to explore a variety of possible
liquefaction and power generation plant designs, with the ultimate goal of decarbonizing
the production of LNG.
- Attica-Crete interconnection will ensure a more secure power supply and increase integration of renewable energy
- HVDC project will reduce half a million tons of CO2 emissions in first year of operation
- Total order volume for Siemens-led consortium €370 million
A consortium led by Siemens Gas and Power (Siemens Energy) has been awarded a turnkey contract for two converter stations for the Greek high-voltage direct-current (HVDC) link that will connect Crete, Greece’s largest and most populous island, with the mainland of Greece. The project will enable an exchange of electricity of up to 1,000 megawatts (MW) to enhance reliability of the power supply and facilitate integration of renewable energy sources in the power grid. Customer is Ariadne Interconnection S.P.S.A., a wholly owned entity of the Greek independent power transmission operator IPTO. Commissioning of the interconnector is scheduled for mid-2023. Total order volume for the consortium is €370 million.
- Siemens will provide main equipment for an electrical service platform for wind power project
- Mayflower Wind developing a lease area with capacity of up to 1.6 gigawatts of renewable energy
- Electricity for up to 680,000 U.S. households
Siemens has been awarded an order from Danish customer Semco Maritime to provide the main electrical equipment for the electrical service platform (ESP) of the offshore wind project Mayflower Wind LLC (Mayflower Wind). The project is located in a federal lease area approximately 25 miles south of Nantucket, Massachusetts in the United States, and will have a capacity to generate up to 1.6 gigawatts (GW) of renewable energy. Siemens will supply the components for Semco Maritime by 2022.
- Electricity and district heating for eastern part of the capital city
- From Berlin for Berlin: Gas turbine from Siemens plant in Moabit
- Highest efficiency through cogeneration
- Maximum fuel efficiency of 92 percent
Vattenfall Wärme Berlin AG today officially commissioned the Berlin-Marzahn combined heat and power (CHP) plant, which was built by Siemens Gas and Power as general contractor. The Governing Mayor of Berlin, Michael Müller, and the Vice President of the German Bundestag, Petra Pau, visited the natural gas-fired combined cycle plant with district heating extraction. Together with Tanja Wielgoß, CEO of Vattenfall Wärme Berlin AG, and Jochen Eickholt, member of the Managing Board of Siemens Energy, they inaugurated the new power plant. The combined heat and power plant is one of the most efficient in Europe and makes an important contribution to Berlin's climate-neutral energy supply.
- Green hydrogen project launched in May 2020
- Decarbonizing a paper factory by modernizing an existing combined heat and power plant in France
With the HYFLEXPOWER project, a consortium made up of Engie Solutions, Siemens Gas and Power, Centrax, Arttic, German Aerospace Center (DLR) and four European universities are implementing a project funded by the European Commission under the Horizon 2020 Framework Program for Research and Innovation (Grant Agreement 884229). The implementation of this project, the world's very first industrial-scale power-to-X-to-power1 demonstrator with an advanced hydrogen turbine, will be launched at Smurfit Kappa PRF’s site - a company specialized in manufacturing recycled paper - in Saillat-sur-Vienne, France. The purpose of this project is to prove that hydrogen can be produced and stored from renewable electricity and then added with up to 100 percent to the natural gas currently used with combined heat and power plants. For this an existing Siemens SGT-400 industrial gas turbine will be upgraded to convert stored hydrogen into electricity and thermal energy.