Germany

Germany

Orders quadruple at Siemens in Q3

GERMANY: Siemens wind power business recorded €2.73 billion of orders in its Q3 financial results, up from just €693 million a year earlier.

Siemens' 7MW turbine will be installed at the Beatrice offshore wind project in Scottish waters
Siemens' 7MW turbine will be installed at the Beatrice offshore wind project in Scottish waters

Siemens said the increase of orders was thanks to a €1.4 billion order for a UK offshore project. In May, SSE and its partners arranged financing for the 588MW Beatrice offshore project off Scotland, which will use 84 Siemens 7MW turbines.

The German manufacturer also won a deal to supply the 385MW Arkona project in Germany with 60 6MW turbines.

Revenue increased 21.6% for Siemens' wind division. It recorded €1.7 billion in revenue in the period April to June 2016, up from €1.4 billion in 2015. Siemens said it was a new quarterly high.

Siemens recorded revenue of €1.46 billion in its Q2 financial quarter.

As a whole group, Siemens' recorded revenue of €19.8 billion is up 5% year-on-year.

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