Siemens Gamesa faces another massive deficit

Problems related to the 5.X platform are more extensive than expected, the wind turbine maker informs. The already downgraded full-year guidance is being reassessed with preliminary operating losses that could have approached EUR 1bn in 2022 without major recent divestment in the project pipeline.

Photo: Siemens Energy

Tuesday evening, Siemens Gamesa announced divesting a portfolio of development projects to British utility SSE for a whopping EUR 580m. Although it’s been a well-known fact that the turbine maker was in the process of selling a large portion of its development portfolio to ensure a much-needed cash injection, the price for the 3.9GW far exceeded the EUR 300m price tag that has been circulating over the last few months.

The good news lasted only for a few minutes, however, being followed by another press release.

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