{"id":285815,"date":"2023-10-30T19:28:23","date_gmt":"2023-10-30T18:28:23","guid":{"rendered":"https:\/\/climatescience.press\/?p=285815"},"modified":"2023-10-30T19:28:26","modified_gmt":"2023-10-30T18:28:26","slug":"siemens-energys-green-dream-meets-reality-renewables-in-distress","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=285815","title":{"rendered":"Siemens Energy\u2019s Green Dream Meets Reality: Renewables in Distress"},"content":{"rendered":"\n
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Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is \u201cvery important\u201d.\u00a0 Apparently talks are \u201cintensive\u201d, which presumably means the company is on death\u2019s door and the German government is being asked to help save it.<\/em><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

From ZeroHedge<\/a><\/p>\n\n\n\n

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In a recent revelation, the green energy sector shows signs of distress, as illustrated by the plummeting shares of Siemens Energy. An article on ZeroHedge meticulously unfolds the tale of challenges and uncertainties clouding the renewable energy sector, with Siemens Energy at its epicenter.<\/p>\n\n\n\n

\n

\u201cSiemens Energy shares in Germany crashed on Thursday after the company warned its wind turbine business is grappling with quality issues and offshore ramp-up challenges.\u201dhttps:\/\/www.zerohedge.com\/commodities\/siemens-energy-shares-crash-37-renewable-bust-sparks-green-panic<\/a><\/p>\n<\/blockquote>\n\n\n\n

The company is in the throes of quality and operational challenges, which have significantly impacted its market performance, leading to a staggering 37% crash in its shares in Germany.<\/p>\n\n\n\n

Siemens Energy candidly expressed its ongoing struggles, stating that it is<\/p>\n\n\n\n

\n

\u201cworking through the quality issues and is addressing the offshore ramp-up challenges as announced in the third quarter communication for fiscal year 2023.\u201dhttps:\/\/www.zerohedge.com\/commodities\/siemens-energy-shares-crash-37-renewable-bust-sparks-green-panic<\/a><\/p>\n<\/blockquote>\n\n\n\n

The company also revealed a rather cautious approach moving forward, refraining from concluding new contracts for certain onshore platforms and exercising strict selectivity in the offshore business.<\/p>\n\n\n\n

The article further unveils the broader landscape of challenges faced by the renewable energy sector. It\u2019s not just Siemens Energy feeling the heat; the entire offshore wind power industry seems to be in the midst of a financial crisis.<\/p>\n\n\n\n

\n

\u201cSoaring inflation costs have undercut the sector\u2019s growth and left major projects dead in the water just when their output is most needed.\u201dhttps:\/\/www.zerohedge.com\/commodities\/siemens-energy-shares-crash-37-renewable-bust-sparks-green-panic<\/a><\/p>\n<\/blockquote>\n\n\n\n

The narrative of Siemens Energy is not an isolated incident but seems to be a reflection of a broader trend in the renewable sector. Other giants in the industry, such as Orsted A\/S, the world\u2019s largest offshore wind farm developer, have also faced market adversities. Orsted A\/S shares crashed due to warnings related to severe situations in US offshore wind projects, attributed to inflation, high interest rates, and supply chain woes.<\/p>\n\n\n\n

In a rather grim portrayal of the sector\u2019s health, the term \u2018green panic\u2019 has been coined, encapsulating the essence of the challenges faced by the renewable energy industry in the current macroeconomic environment. The article subtly underscores the gap between the ambitious green dreams and the harsh realities marked by financial and operational challenges.<\/p>\n\n\n\n

In conclusion, the tale of Siemens Energy, as narrated by the article, serves as a mirror reflecting the turbulent waters navigated by the renewable energy sector. It brings to light the grim realities faced by the green energy companies as they collide with reality. The journey of Siemens Energy, marked by crashing shares and quality challenges, is emblematic of the broader struggles of the renewable industry in a world marked by economic uncertainties and operational challenges.<\/p>\n\n\n\n

(Source: ZeroHedge<\/a>)<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is \u201cvery important\u201d.\u00a0 Apparently talks are \u201cintensive\u201d, which presumably means the company is on death\u2019s door and the German government is being asked to help save it. From Watts Up With That? From ZeroHedge In a recent revelation, the green energy […]<\/p>\n","protected":false},"author":121246920,"featured_media":285821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is \u201cvery important\u201d.\u00a0 Apparently talks are \u201cintensive\u201d, which presumably means the company is on death\u2019s door and the German government is being asked to help save it.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818051,691821294,691820753,691819094,691820489],"class_list":{"0":"post-285815","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-germany","9":"tag-green-dreams","10":"tag-orsted","11":"tag-renewable-green-energy","12":"tag-siemens-energy","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=2400%2C1201&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1clV","jetpack-related-posts":[{"id":333274,"url":"https:\/\/climatescience.press\/?p=333274","url_meta":{"origin":285815,"position":0},"title":"Siemens Sinks: Germany\u2019s Top Wind Turbine Maker Sacks 4,100 Workers\u00a0Overnight","author":"uwe.roland.gross","date":"06\/19\/2024","format":false,"excerpt":"Remember how the wind and solar industries would create hundreds of thousands of highly-paid groovy \u2018green\u2019 jobs? 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From JoNova By Jo Nova Marketing fantasies from the\u2026","rel":"","context":"In \"\u00d8rsted\"","block_context":{"text":"\u00d8rsted","link":"https:\/\/climatescience.press\/?tag=orsted-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":287785,"url":"https:\/\/climatescience.press\/?p=287785","url_meta":{"origin":285815,"position":2},"title":"Germany To Bail Out Siemens\u2019 Struggling Wind Turbine Division","author":"uwe.roland.gross","date":"11\/13\/2023","format":false,"excerpt":"Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees, with the German state covering 80% of the initial funding. Siemens AG shares have plummeted over 70% since mid-June, with the company abandoning its 2023 profit outlook due to challenges in its wind turbine\u2026","rel":"","context":"In \"\u00d8rsted\"","block_context":{"text":"\u00d8rsted","link":"https:\/\/climatescience.press\/?tag=orsted-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":263878,"url":"https:\/\/climatescience.press\/?p=263878","url_meta":{"origin":285815,"position":3},"title":"Siemens Energy\u2019s Troubles: A Case Study in the Misallocation of Resources","author":"uwe.roland.gross","date":"06\/26\/2023","format":false,"excerpt":"The stunning 37% plunge in Siemens Energy\u2019s stock value\u00a0should serve as a reality check for climate change alarmists. 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