Germany mulls plans to extend a massive lifeline to ailing power giant Siemens Energy | DW Business
October 30, 2023
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7:39Now PlayingGermany mulls plans to extend a massive lifeline to ailing power giant Siemens Energy | DW Business
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as posted by the channelWill the German government come to the rescue of Siemens Energy? Negotiations for a €16 billion loan guarantee are underway after the company posted massive losses in its wind turbine unit. The company - a spin-off of former parent Siemens - has faced significant repair bills due to flaws discovered in its turbines. High borrowing rates - increasing the cost of construction - have added to its woes. Potentially at stake: Germany's energy security and climate goals. We speak to Clemens Fuest at the Ifo Research Institute.
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