Latest news with #SiemensGamesa
Time of India
19-05-2025
- Business
- Time of India
TPG-led consortium seeks CCI nod to acquire Siemens Gamesa's wind biz
A big move in renewable energy sector is expected. TPG, Mavco Investments, and Prashant Jain plan to acquire Siemens Gamesa's wind business. They have requested approval from the Competition Commission of India. The deal includes manufacturing and maintenance of onshore wind turbines. This acquisition aims to boost wind power generation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A consortium led by TPG, Mavco Investments and former JSW Energy CEO Prashant Jain has sought approval from the fair trade regulator CCI to acquire the onshore wind business of Siemens Gamesa Renewable Power. American private equity firm TPG, through its affiliates Peony Properties Pvt Ltd and TPG REGen SG Pte, and Mavco Investments, a private company belonging to select members of the Murugappa family, will acquire the wind power business."The proposed combination pertains to the acquisition of the businesses relating to the manufacturing and assembly of onshore wind turbine generators and the operation, maintenance and technical services of wind turbines and/or onshore wind power projects from SGRE and Siemens Gamesa Renewable Energy Lanka (Pvt) Ltd," a notice filed with the Competition Commission of India (CCI) said on May is a wholly-owned indirect subsidiary of SEAG. SEAG is the ultimate controlling entity of the Siemens Energy proposed combination is notified to the CCI under Section 5(a)(i)(A) of the Competition Act, 2002, it Jain's Tikri Investments will also acquire a stake in the parties have said the "proposed combination will not lead to any change in the competitive dynamics, let alone cause any appreciable adverse effect on competition in India".They (parties) also noted that any relevant market delineation may be left open, with only limited vertical overlaps between affiliates of Mavco and the target business in areas like gearboxes, generators, switchgears, and transformers for wind March, TPG and Siemens Gamesa, a wind power subsidiary of Siemens Energy, announced that they have entered into an agreement under which TPG would acquire a majority stake in Siemens Gamesa's onshore wind turbine generator manufacturing business in India and Sri Investments will also make a significant minority investment alongside TPG, in addition to continued investment from Siemens Prashant Jain will also pick up a minority stake as Climate Change Partner in the venture.
BBC News
09-05-2025
- Business
- BBC News
Humber renewables leaders urge Reform UK mayors to back industry
Representatives of the Humber's renewable energy industry have issued a plea to the region's new mayors to "come and talk to us and understand us". There is concern the political views of Dame Andrea Jenkyns and Luke Campbell could put jobs and the industry at risk. Both mayors, who represent Reform UK, have criticised the government's policies on renewable energy and its target of reaching net zero carbon emissions by 2050. Hannah Damary-Wilson from Specialist Wind Services in Grimsby said it would be a "travesty" if the town's "thriving industry" was not supported by its mayor, while David Laister of Humber Marine and Renewables said it was "vital" the mayors engaged with the sector. Ms Damary-Wilson said she was concerned local jobs and opportunities could be lost. "When our mayor Andrea Jenkyns bandies about slogans like 'net zero madness', it's important to remember that it isn't just about hitting net zero policies, it's about developing energy independence."Ms Damary-Wilson said the economic fortunes of the region were heavily dependent on renewable energy."It's about providing skilled opportunities to a community that has, by and large, been abandoned," she said. In the last 20 years, the renewable energy industry has seen significant expansion around the Humber estuary. The Siemens Gamesa wind turbine blade factory in Hull now employs more than 1,600 people. Grimsby specialises in support services for offshore industries and is the main port serving the world's largest offshore wind farm. The UK's offshore wind industries have benefited from government net zero funding as it tries to reduce carbon emissions and create green jobs, most recently £300m from Great British Energy. In a BBC debate prior to being elected, Campbell, the mayor of Hull and East Yorkshire, said he felt "half and half" when it came to supporting net zero and the renewable energy sector. "I don't think net zero is achievable but listen, forget party politics, if it's creating jobs in this region, I'll put our people first," he said. However, Campbell's Reform UK party takes a tougher stance and wants to scrap net zero policies and tax renewable energyDame Andrea, the Greater Lincolnshire mayor, has described the government's approach to renewable energy as "nut zero" and said she would drive forward plans for fracking in the county. She said she "absolutely" supported Reform UK's plans for a windfall tax on renewables and would be "shining a light of scrutiny" on the Humber's renewable industry. Industries connected to the government's net zero ambitions are continuing to see government funding and private sector Mr Laister called for the two new mayors to engage with the sector. "I would urge them to listen and to talk and to understand the various elements of the wider renewables industry," he said. "All that's been developed in the last 20 years, we don't want to see that lost or stalled."Listen to highlights from Hull and East Yorkshire on BBC Sounds, highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Yahoo
03-05-2025
- Business
- Yahoo
Tariffs could add $500M to offshore wind project cost, says Dominion CEO
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Dominion Energy's 2.6 GW Coastal Virginia Offshore Wind project has incurred $4 million in tariff costs so far. If the new U.S. tariff policy persists through the project's anticipated completion in late 2026, tariffs will add about $500 million to the project's cost, Dominion Chair, President and CEO Bob Blue said in a Thursday earnings call. The company expects to incur about $120 million in associated costs if the current policy extends through the end second quarter of the company's fiscal year, as Dominion expects the tariffs to last for around that long. 'We made our quarterly offshore wind construction update filing with the Virginia State Corporation Commission today in which we increased total project costs by about $120 million, which aligns with our estimate of actual incurred plus projected tariff costs through the end of the second quarter,' Blue said. As a result, the total estimated project cost through June 30 has increased from $10.7 billion to $10.8 billion. Blue and Dominion Chief Operating Officer Diane Leopold said that despite the tariffs, the company does not anticipate any delays from their suppliers. Siemens Gamesa, the project's wind turbine supplier, is 'hitting their marks,' Blue said. 'They started on time, they're producing at the pace that we expected. And so we feel very, very confident about our ability to get the materials, the components that we need … So really no change to anything in terms of delivery schedules or ability.' Leopold noted that 'all of the raw materials are already purchased. Everything is in fabrication right now.' The Siemens Gamesa components are 'actually a little bit ahead of schedule,' she said, 'and deliveries are going to proceed in the coming weeks.' While the tariffs will also impact other aspects of Dominion's business, such as solar and storage projects, Blue said the impacts the company is seeing so far are 'manageable.' Recommended Reading Equinor considers legal action over stop work order for Empire Wind project Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Global energy leader completes groundbreaking offshore installation: 'We are proud to see it happen'
Renewable energy manufacturer Siemens Gamesa is celebrating the installation of a cutting-edge wind turbine that will continue Taiwan's pursuit of sustainable energy resources. The completion of the world's first SG 14-236 wind turbine from Siemens Gamesa marks just one of many to come. The Ørsted's Greater Changhua 2b & 4 Offshore Wind Farm will see the installation of 65 additional wind turbines by the end of 2025. Altogether, the wind farm will have over a 920 megawatt capacity. Onshore construction of the wind farm's substations began in April 2023, according to Ørsted. Less than two years later, the offshore component of the project began. Full grid connection to the wind farm is expected to be completed in 2026. In a LinkedIn post, Siemens Gamesa highlighted the completion of the first step of the project. "Now in place! We've just completed the first installation of the SG 14-236 offshore wind turbine at the Ørsted Greater Changhua 2b and 4 offshore wind farms in Taiwan," the company wrote. "This is the first-ever installation of the SG 14-236 wind turbine globally, and we are proud to see it happen in Taiwan — a growing hub for offshore wind innovation," the post added. Taiwan's Renewable Energy Development Act has sought to encourage renewable energy use, promote energy diversification, and reduce pollution within the country. This is in addition to the country's goal of reaching carbon neutrality by 2050. Wind farms have the potential to save customers money by generating electricity without any fuel costs for energy producers. This can drive down power prices, which are then passed on to consumers through lower retail electricity rates. In general, wind turbines have minimal environmental impact during operation. They do not produce any air or water pollution and contribute to reduced carbon pollution by replacing dirty fuels. However, during the construction and manufacturing process of wind farms, there is a potential for costly wildlife interactions, disrupting natural habitats and vulnerable ecosystems. These concerns are often focused on during location planning. Should the government be able to control how we heat our homes? Definitely Only if it saves money I'm not sure No way Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
CNBC
27-04-2025
- Business
- CNBC
America's aging wind energy is here to stay despite Trump climate retreat, and it needs a lot of work
On Inauguration Day, President Donald Trump issued an executive order indefinitely halting permits for new onshore wind energy projects on federal land, as well as new leases for offshore wind farms in U.S. coastal waters. The action not only fulfilled Trump's "no new windmills" campaign pledge, but struck yet another blow to the wind industry, which has been hit hard over the past few years by supply chain snags, price increases upending project economics, public opposition and political backlash against federal tax credits, especially those spurring the fledgling offshore wind sector. Nonetheless, the nation's well-established onshore wind industry, built out over several decades, is generating nearly 11% of America's electricity, making it the largest source of renewable energy and at times last year exceeding coal-fired generation. On April 8, the fossil-fuels-friendly Trump administration took measures to bolster coal mining and power plants, but as the infrastructure driving wind energy ages, efforts to "repower" it are creating new business opportunities for the industry's key players. This repowering activity has emerged as a bright spot for the wind industry, giving a much-needed boost to market leaders GE Vernova, Vestas and Siemens Gamesa, a subsidiary of Munich-based Siemens Energy. Following several challenging years of lackluster performance — due in particular to setbacks in both onshore and offshore projects — all three companies reported revenue increases in 2024, and both GE Vernova and Siemens stock have moved higher. GE Vernova, spun off from General Electric a year ago, led overall onshore wind installations in 2024, with 56% of the U.S. market, followed by Denmark's Vestas (40%) and Siemens Gamesa (4%). According to the U.S. Energy Information Administration, installed wind power generating capacity grew from 2.4 gigawatts (GW) in 2000 to 150.1 GW as of April 2024. Although the growth rate for launching new greenfield onshore wind farms has slowed over the last 10 years, the U.S. is still poised to surpass 160 GW of wind capacity in 2025, according to a new report from energy research firm Wood Mackenzie. There currently are about 1,500 onshore wind farms — on which more than 75,600 turbines are spinning — across 45 states, led by Texas, Iowa, Oklahoma, Illinois and Kansas. Virtually all of the wind farms are located on private land, and many of the largest ones are owned and operated by major energy companies, including NextEra Energy, RWE Clean Energy, Pattern Energy, Clearway Energy, Xcel Energy and Berkshire Hathaway's MidAmerican Energy, which generates 59% of it renewable energy from wind, including 3,500 turbines operating across 38 wind projects in Iowa. A growing number of the turbines are 20-plus years old and nearing the end of their lifecycle. So increasingly, operators have to decide whether to upgrade or replace aging turbines' key components, such as blades, rotors and electronics, or dismantle them altogether and erect new, technologically advanced and far more efficient models that can increase electricity output by up to 50%. "What's becoming clear is that more and more of the U.S. installed base [of onshore turbines] has exceeded its operational design life," said Charles Coppins, research analyst for global wind at Wood Mackenzie, "and now operators are looking to replace those aging turbines with the latest [ones]." To date, approximately 70 GW of onshore wind capacity has been fully repowered in the U.S., according to Wood Mackenzie, while an additional 12 GW has been partially repowered. The firm estimates that around 10,000 turbines have been decommissioned and that another 6,000 will be retired in the next 10 years, Coppins said. Beyond the fact that aged-out turbines need to be upgraded or replaced, repowering an existing wind farm versus building a new site presents economic benefits to operators and OEMs. To begin with, there's no need to acquire property. In fact, in certain situations, because today's turbines are larger and more efficient, fewer turbines are needed. And they'll generate additional electricity and have longer lifecycles, ultimately delivering higher output at a lower cost. Even so, "there are some limitations on how much capacity you could increase a project by without having to go through new permitting processes or interconnection queues" to the power grid, said Stephen Maldonado, Wood Mackenzie's U.S. onshore analyst. As long as the operator is not surpassing the allowed interconnection volume agreed to with the local utility, they can add electricity to the project and still send it to the grid. Public opposition, Maldonado said, may be another hurdle to get over. Whether it's a new or repower wind project, residents have expressed concerns about environmental hazards, decreased property values, aesthetics and general anti-renewables sentiment. RWE, a subsidiary of Germany's RWE Group, is the third largest renewable energy company in the U.S., owning and operating 41 utility-scale wind farms, according to its CEO Andrew Flanagan, making up 48% of its total installed operating portfolio and generating capacity, which also includes solar and battery storage. One of RWE's two repower projects underway (both are in Texas), is its Forest Creek wind farm, originally commissioned in 2006 and featuring 54 Siemens Gamesa turbines. The project will replace them with 45 new GE Vernova turbines that will extend the wind farm's life by another 30 years once it goes back online later this year. Simultaneously, RWE and GE Vernova are partnering on a new wind farm, immediately adjacent to Forest Creek, adding another 64 turbines to the complex. When complete, RWE will deliver a total of 308 MW of wind energy to the region's homes and businesses. Flanagan noted that the combined projects are related to increased electricity demands from the area's oil and gas production. "It's great to see our wind generation drive the all-of-the-above energy approach," he said. What's more, at its peak, the repower project alone will employ 250 construction workers and over its operating period bring in $30 million in local tax revenue, he added. In turn, the twin projects will support advanced manufacturing jobs at GE Vernova's Pensacola, Florida, facility, as well as advancing the OEM's repower business. In January, the company announced that in 2024 it received orders to repower more than 1 GW of wind turbines in the U.S. Siemens Gamesa has executed several large U.S. repowering projects, notably MidAmerican's expansive Rolling Hills wind farm in Iowa, which went online in 2011. In 2019, the company replaced 193 older turbines with 163 higher-capacity models produced at its manufacturing plants in Iowa and Kansas. Last year, Siemens Gamesa began repowering RWE's 17-year-old Champion Wind, a 127-MW wind farm in West Texas. The company is upgrading 41 of its turbines with new blades and nacelles (the housing at the top of the tower containing critical electrical components) and adding six new turbines. In early April, Clearway announced an agreement with Vestas to repower its Mount Storm Wind farm in Grant County, West Virginia. The project will include removing the site's 132 existing turbines and replacing them with 78 new models. The repower will result in an 85% increase in Mount Storm's overall electricity generation while using 40% fewer turbines. Another benefit of repowering is invigorating the nascent industry that's recycling megatons of components from decommissioned turbines, including blades, steel, copper and aluminum. Most of today's operational turbines are 85% to 95% recyclable, and OEMs are designing 100% recyclable models. While the majority of mothballed blades, made from fiberglass and carbon fiber, have historically ended up in landfills, several startups have developed technologies recycle them. Carbon Rivers, for example, contracts with the turbine OEMs and wind farm operators to recover glass fiber, carbon fiber and resin systems from decommissioned blades to produce new composites and resins used for next-generation turbine blades, marine vessels, composite concrete and auto parts. Veolia North America, a subsidiary of the French company Veolia Group, reconstitutes shredded blades and other composite materials into a fuel it then sells to cement manufacturers as a replacement for coal, sand and clay. Veolia has processed approximately 6,500 wind blades at a facility in Missouri, and expanded its processing capabilities to meet demand, according to David Araujo, Veolia's general manager of engineered fuels. Trump's new-project moratorium isn't his only impediment to the wind industry. The president's seesaw of import tariffs, especially the 25% levy on steel and aluminum, is impacting U.S. manufacturers across most sectors. The onshore wind industry, however, "has done a really good job of reducing geopolitical risks," said John Hensley, senior vice president for markets and policy analysis at the American Clean Power Association, a trade group representing the clean energy industry. He cited a manufacturing base in the U.S. that includes hundreds of plants producing parts and components for turbines. Although some materials are imported, the investment in domestic manufacturing "provides some risk mitigation to these tariffs," he said. Amidst the headwinds, the onshore wind industry is trying to stay focused on the role that repowering can play in meeting the nation's exponentially growing demand for electricity. "We're expecting a 35% to 50% increase between now and 2040, which is just incredible," Hensley said. "It's like adding a new Louisiana to the grid every year for 15 years." GE Vernova CEO Scott Strazik recently told CNBC's Jim Cramer that the growth of the U.S.'s electric load is the largest since the industrial boom that followed the end of the second world war. "You've got to go back to 1945 and the end of World War II, that's the infrastructure buildout that we're going to have," he said. As OEMs and wind farm developers continue to face rising capital costs for new projects, as well as a Trump administration averse to clean energy industries, "repowering offers a pathway for delivering more electrons to the grid in a way that sidesteps or at least minimizes some of the challenges associated with all these issues," Hensley said.
