Siemens Energy Prepares to Resume Sales of Troubled Wind Turbines [BNN Bloomberg (Canada)]
REPSOL SA SP/ADR (REPYY)
NASDAQ:AMEX Investor Relations:
repsol.energy/en/shareholders-and-investors/index.cshtml
Company Research
Source: BNN Bloomberg
Spain's Repsol SA and Germany's BayWa r.e. are among firms that say the manufacturing giant has signaled it will soon offer the units, which were put on hold last year due to technical problems. “They will be back and they'll be a good supplier,” João Costeira, executive managing director for low carbon generation at Repsol, said at a wind energy conference in Bilbao. He expects clarity on the matter within months. Siemens Energy last summer launched a review of its wind power business, after discovering that a main piece on the turbine frame could twist over time and put other components at risk. The debacle at its Gamesa wind unit added to billions of euros in losses for the company, prompting the German government to step in with a €15 billion ($16.4 billion) deal to shore up its finances. It also occurred against a backdrop of soaring prices for raw materials, supply-chain bottlenecks and higher transportation costs that have weighed on the sector broadly. A return of Sieme
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