It should be about guarantees for loans of up to 15 billion euros. Siemens Energy is struggling with problems in its wind power division and fears that important credit lines will become more expensive.
Siemens Energy is reportedly negotiating with the federal government for state guarantees worth billions. According to “WirtschaftsWoche”, it will be about guarantees for loans of up to 15 billion euros. The magazine relies on financial circles. A Siemens Energy spokesman did not comment on the report this morning. The “Spiegel” also reports on the process, but mentions lower sums.
According to “WirtschaftsWoche”, the guarantees are intended to prevent a scenario in which banks make important credit lines from Siemens Energy more expensive for projects or completely cancel them. Siemens Energy is struggling with problems in its wind power division, and a billion-dollar loss is expected for the fiscal year that ended at the end of September. Other business areas, on the other hand, are doing well and the order books are full.
The news was poorly received by investors: the energy technology company’s shares collapsed significantly in early trading.
Source: Stern
