Reuters FRANKFURT – German engineering group Siemens Energy wants its slice of the $2.3 trillion U.S. President Joe Biden plans to spend on infrastructure, including power grids and renewables, as the company targets higher sales in its biggest market. “We see great opportunities for wind energy, onshore but above all in the area of offshore,” Tim Oliver Holt, who is
Oil and Gas 360 NEW YORK (Reuters) – General Electric Co accused a Siemens Energy AG subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover up improper business gains totaling more than $1 billion, according to a lawsuit filed on Thursday. GE sued the rival company, Siemens Energy Inc,
Reuters NEW YORK – Units of Macquarie Group MQG.AX and Siemens AG SIEGn.DE are forming a venture named Calibrant Energy, that will invest in the emerging energy-as-a-service (EaaS) sector in the United States, according to a joint statement on Monday. Electricity generation is forecast to increasingly move away from traditional structures involving large fossil fuel-burning power plants, towards localized systems using renewable energy
CNBC Siemens has revealed more details of the spin-off its energy business later this month, as it aims to create a firm which CEO Joe Kaeser has previously described as encompassing “the entire scope of the energy market like no other company.” At its capital market day Tuesday, Siemens Energy CEO Christian Bruch outlined plans for the spin-off, which will
CNBC Siemens Gamesa Renewable Energy (SGRE) has released details of a 14-megawatt (MW) offshore wind turbine, in the latest example of how technology in the sector is increasing in scale. With 108-meter-long blades and a rotor diameter of 222 meters, the dimensions of the SG 14-222 DD turbine are significant. In a statement Tuesday, SGRE said that one turbine would be
M&A activity down in terms of volume, but Shell-BG megadeal pushes overall dollar value up The second quarter of 2015 showed the largest amount of activity in mergers and acquisitions (M&A) in the oil and gas sector by value since the fourth quarter of 2012, reports the Energy Information Administration (EIA). $115 billion of M&A activity was reported in Q2,
After four months, E.U. antitrust regulators approve Siemens deal for oil & gas compression equipment manufacturer E.U. antitrust regulators unconditionally approved Siemens’ (ticker: SIE) acquisition of Houston-based Dresser-Rand (ticker: DRC) for total consideration of $7.8 billion, according to a press release from Siemens. The E.U. antitrust regulator initiated a review after voicing concerns that after purchasing Dresser-Rand, Siemens would not
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