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Researched by Industrial Info Resources (Sugar Land, Texas)--Following a rough period for the wind-energy sector, Siemens Energy (Munich, Germany) is offering a rosy outlook for its troubled business. In announcing results for the first quarter of its 2024 fiscal year, which ended December 31, Chief Executive Officer Christian Bruch said the company "had a solid start into the year with momentum in all the businesses," and was working with its customers to repair flawed turbines. Industrial Info is tracking more than $92 billion worth of active and planned projects across the U.S. and Canada that are using, or considering, Siemens' services, including more than $31 billion worth of wind-energy projects.
Click on the image at right for a graph detailing the top 10 parent companies for active and planned projects across the U.S. and Canada using, or considering, Siemens' services, by total investment value.
"The solid first quarter is encouraging, in part due to project shifts, which are normal in plant engineering, especially with the market dynamics we are currently seeing," Bruch said in a press release. "That is why our focus remains on solving the quality problems in our onshore wind business and making the most of the growth potential for the rest of the company." Burch also told Bloomberg that although orders for offshore turbines are lower than anticipated, as related business in the U.S. is "definitely delayed," he expects "momentum in Europe will come back next year."
This is welcome news, given Siemens' 2.2 billion-euro (US$2.4 billion) charge last year related to growing issues affecting both its onshore and offshore wind turbines. In November, the German government said it would back the energy giant with 7.5 billion euros (US$8.1 billion) in guarantees, as part of a deal with other stakeholders to help Siemens fulfill its order book. Siemens Gamesa Renewable Energy (SGRE) (Zamudio, Spain), one of the world's largest producers of the turbines, had been dealing with technical issues in some of its leading products and was suffering higher costs due to rising inflation. For more information, see November 14, 2023, article - Siemens Energy Seeks $16 Billion Rescue from German Government.
More good news came from Orsted A/S's (Fredericia) South Fork Offshore Windfarm, east of Long Island, which is using Siemens technology. The 130-megawatt (MW) windfarm has begun delivering energy, and more than 50% of the turbines have been installed. For more information, see January 22, 2023, article - Orsted Achieves 50% Turbine Installation at U.S. Offshore Windfarm, Signs PPA for Texas Solar Project; subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from a detailed project report and plant profile.
The largest onshore wind-energy project in the U.S. to feature Siemens, The Anschutz Corporation's (Denver, Colorado) Chokecherry and Sierra Madre Windfarm near Rawlins, Wyoming, is a two-phase project that is expected to generate a total of at least 3 gigawatts (GW) from up to 1,000 turbines. The two phases began construction in the spring of 2022 on 320,000 acres of private and federal land, and currently are expected to wrap up in late 2027; each will generate 1.5 GW. Subscribers can learn more from a detailed plant profile and project reports on Phase I and Phase II.
Energy generated from the Chokecherry and Sierra Madre Windfarm will be transmitted via a 732-mile, $3 billion high-voltage direct current (HVDC) line from Wyoming to California and neighboring states, which is to be developed by Anschutz subsidiary TransWest Express. Anschutz selected Siemens to supply technology for the line. Subscribers can learn more from a detailed project report.
In Canada, SGRE is providing turbines to Greengate Power Corporation's (Calgary, Alberta) US$300 million Paintearth Windfarm in Paintearth County No. 18, Alberta, which is expected to generate 198 MW following its completion in the coming weeks. About 200 miles south, Siemens' turbines are being added to Capstone Infrastructure Corporation's (Toronto, Ontario) US$300 million Wild Rose II Windfarm in Irvine, Alberta, which is expected to generate 190 MW following its completion this spring.
The Paintearth project benefits from a power purchase agreement (PPA) signed with Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington) in 2022 for a majority of the output; around the same time, Capstone signed a PPA with Pembina Pipeline Corporation (NYSE:PBA) for most of Wild Rose II's offtake. Subscribers can read detailed reports on the Paintearth and Wild Rose II projects.
Toward the end of the year, Innagreen Investments (London, England), which was established in 2021, expects to finish construction on its US$240 million Bekevar Wind Energy Center in Kipling, Saskatchewan, which will generate 187.2 MW from SGRE turbines. Like Innagreen's flagship project--the Hilda Wind Project in Medicine Hat, Alberta, which finished construction in October--Bekevar was developed with Renewable Energy Systems (RES) Canada (Montreal, Quebec) as the project manager. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned wind-energy projects across the U.S. and Canada featuring Siemens.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies for active and planned projects across the U.S. and Canada using, or considering, Siemens' services, by total investment value."The solid first quarter is encouraging, in part due to project shifts, which are normal in plant engineering, especially with the market dynamics we are currently seeing," Bruch said in a press release. "That is why our focus remains on solving the quality problems in our onshore wind business and making the most of the growth potential for the rest of the company." Burch also told Bloomberg that although orders for offshore turbines are lower than anticipated, as related business in the U.S. is "definitely delayed," he expects "momentum in Europe will come back next year."
This is welcome news, given Siemens' 2.2 billion-euro (US$2.4 billion) charge last year related to growing issues affecting both its onshore and offshore wind turbines. In November, the German government said it would back the energy giant with 7.5 billion euros (US$8.1 billion) in guarantees, as part of a deal with other stakeholders to help Siemens fulfill its order book. Siemens Gamesa Renewable Energy (SGRE) (Zamudio, Spain), one of the world's largest producers of the turbines, had been dealing with technical issues in some of its leading products and was suffering higher costs due to rising inflation. For more information, see November 14, 2023, article - Siemens Energy Seeks $16 Billion Rescue from German Government.
More good news came from Orsted A/S's (Fredericia) South Fork Offshore Windfarm, east of Long Island, which is using Siemens technology. The 130-megawatt (MW) windfarm has begun delivering energy, and more than 50% of the turbines have been installed. For more information, see January 22, 2023, article - Orsted Achieves 50% Turbine Installation at U.S. Offshore Windfarm, Signs PPA for Texas Solar Project; subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from a detailed project report and plant profile.
The largest onshore wind-energy project in the U.S. to feature Siemens, The Anschutz Corporation's (Denver, Colorado) Chokecherry and Sierra Madre Windfarm near Rawlins, Wyoming, is a two-phase project that is expected to generate a total of at least 3 gigawatts (GW) from up to 1,000 turbines. The two phases began construction in the spring of 2022 on 320,000 acres of private and federal land, and currently are expected to wrap up in late 2027; each will generate 1.5 GW. Subscribers can learn more from a detailed plant profile and project reports on Phase I and Phase II.
Energy generated from the Chokecherry and Sierra Madre Windfarm will be transmitted via a 732-mile, $3 billion high-voltage direct current (HVDC) line from Wyoming to California and neighboring states, which is to be developed by Anschutz subsidiary TransWest Express. Anschutz selected Siemens to supply technology for the line. Subscribers can learn more from a detailed project report.
In Canada, SGRE is providing turbines to Greengate Power Corporation's (Calgary, Alberta) US$300 million Paintearth Windfarm in Paintearth County No. 18, Alberta, which is expected to generate 198 MW following its completion in the coming weeks. About 200 miles south, Siemens' turbines are being added to Capstone Infrastructure Corporation's (Toronto, Ontario) US$300 million Wild Rose II Windfarm in Irvine, Alberta, which is expected to generate 190 MW following its completion this spring.
The Paintearth project benefits from a power purchase agreement (PPA) signed with Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington) in 2022 for a majority of the output; around the same time, Capstone signed a PPA with Pembina Pipeline Corporation (NYSE:PBA) for most of Wild Rose II's offtake. Subscribers can read detailed reports on the Paintearth and Wild Rose II projects.
Toward the end of the year, Innagreen Investments (London, England), which was established in 2021, expects to finish construction on its US$240 million Bekevar Wind Energy Center in Kipling, Saskatchewan, which will generate 187.2 MW from SGRE turbines. Like Innagreen's flagship project--the Hilda Wind Project in Medicine Hat, Alberta, which finished construction in October--Bekevar was developed with Renewable Energy Systems (RES) Canada (Montreal, Quebec) as the project manager. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned wind-energy projects across the U.S. and Canada featuring Siemens.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
