Siemens Gamesa Is Weathering A Storm. Can They Gain Back The Turbine Throne?

Siemens Gamesa, known as "the wind wizards," is a global leader in manufacturing onshore and offshore wind turbines.

Yet they are facing financial woes. Here is what Reuters says about it:

The Spanish capital is home to the global headquarters of Siemens Gamesa. The company has delivered more than 132 gigawatts worth of wind turbines across all continents and oceans, producing both onshore and offshore wind turbines. It has a yearly revenue of 9.8 billion Euros and a 34.6 billion Euro order backlog.

After Siemens Energy canceled its profit projection and warned that costly troubles at its wind turbine operation could linger for years, the stock price dropped by more than 37%.
“It is too early to have an exact estimate of the potential financial impact of the quality topics and to gauge the impact of the review of our assumptions on our business plans,” Siemens Energy said in a statement.

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While Siemens Gamesa is weathering financial turbulence, experts are asking if can it sets sails to reclaim its former glory?

Here is a breakdown of the situation:

What's the problem with Siemen Gamesa’s onshore wind turbines?

Siemens Gamesa has detected concerns in various components, such as rotor blades and bearings, of its 108 GW onshore turbine fleet. According to Siemens Energy, review findings of "abnormal vibration behavior of some components" and "unspecified problems around product design" might affect 15–30% of the fleet.

Which onshore turbines are affected?

Recent systems like the 5X model were the ones where issues were reported last year, says Siemens management. Part of the difficulty, according to management, was figuring out how to use fault rates to reliably predict how well turbines would function over a 20-year period.

What is Siemens Gamesa doing about the affected turbines?

Siemens Gamesa announced quality issues and said it has begun a technical evaluation of the installed onshore fleet and product designs. The company is currently assessing potential solutions and the associated expenses & said that it could provide a more accurate estimate of the costs from the problems when it publishes its third-quarter results after a full analysis of the situation.

TechDogs-"Image Of Siemens Gamesa Wind Turbine."

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Will Siemens Gamesa, the wind industry stalwart, achieve its quest for financial and reputational redemption? Will they come out of this stronger than before after this debacle? Let us know your thoughts in the comments section below!

First published on Tue, Jun 27, 2023

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