EnergyWatch

Siemens Gamesa CEO downplays feud with major shareholder

It was "no surprise" that Iberdrola nominated Vestas over Siemens Gamesa to service the majority of its Spanish wind fleet, says Markus Tacke.

On April 1, Iberdrola issued an order that was remarkable for several reasons. Firstly, because the EUR 110 million deal accounts for almost four fifths of the Spanish utility's wind fleet in its home country and Portugal. But also partly because of which firm was awarded the largest part of the deal – and which firm was not.

Vestas was commissioned to service 2,190 MW of the total 4,425 MW Gamesa turbines. While Siemens Gamesa – which with a 8.1 percent share is the turbine manufacturer's largest shareholder besides Siemens – only won half that amount with 1,265 MW.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Further reading

Related articles

Latest News

See all jobs