Siemens Reports In Line with Forecasts Amid Weak Dollar; Confirms 2025 Outlook

A consortium of Siemens Energy and Neptun Smulders Offshore Renewables has won a tender to build a 2 GW offshore substation (HVDC converter platform) to connect offshore wind farms to the grid. An onshore substation is also part of the project. The contract for the project has been signed with German grid operator 50Hertz and includes the option to build another similar platform. The project is estimated to cost €2.5 billion.

US Officials Warn of Active Threat to Siemens Devices in Critical Infrastructure

Siemens to Invest Over $200 Million in New Texas Manufacturing Facilities