Siemens Energy AG is an energy company formed through the

spin-off Spin-off may refer to: *Spin-off (media), a media work derived from an existing work *Corporate spin-off, a type of corporate action that forms a new company or entity * Government spin-off, civilian goods which are the result of military or gov ...

of the former Gas and Power division of

Siemens Siemens AG ( ) is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The principal divisions of the corporation are ''Industry'', ''E ...

, and it includes full ownership of

Siemens Gamesa Siemens Gamesa Renewable Energy S.A., formerly Gamesa Corporación Tecnológica S.A. () and Grupo Auxiliar Metalúrgico S.A., is a Spanish-German wind engineering company based in Zamudio, Biscay, Spain. In Spain, the company has two other main ...

. Christian Bruch is the CEO, and the former CEO of Siemens AG, Joe Kaeser, is the chairman of the supervisory board. At an Extraordinary Shareholders' Meeting of Siemens AG on July 9, 2020, its shareholders approved the split-up of the company. Trading of the shares of the new Siemens Energy AG on the

Frankfurt Stock Exchange The Frankfurt Stock Exchange (german: link=no, Börse Frankfurt, former German name – FWB) is the world's 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Loca ...

began on September 28, 2020. As of June 2023, Siemens retains a stake of 25.1% in the company. Following issues with the production of Gamesa, Siemens Energy share price dropped by nearly 35% between 21–23 Jun
2023
In October 2023 the company announced it was seeking German government guarantees, following quality problems with rotor blades and gears in its newer onshore wind turbines. The company share price dropped once again sharply on 25 October 2023, but it regained most of this loss by 15 November 2023.

History

The energy division has been an essential part of the company since the foundation of the group by Werner von Siemens and Johann Georg Halske. Important organizational milestones were the founding of

Siemens-Schuckertwerke Siemens-Schuckert (or Siemens-Schuckertwerke) was a German electrical engineering company headquartered in Berlin, Erlangen and Nuremberg that was incorporated into the Siemens AG in 1966. Siemens Schuckert was founded in 1903 when Siemens & ...

in 1903, the formation of the Power Engineering Division in 1969 in the newly founded Siemens AG, and the bundling of activities in the Siemens Energy Sector in 2008. Siemens Energy was created as an independent company in April 2020 as a result of a renewed restructuring of the Siemens Group. Siemens transferred its energy division to the new independent company for this purpose.

Products

The Group's product range mainly includes: * Power transmission and distribution (for example, transformers,

switchgear In an electric power system, a switchgear is composed of electrical disconnect switches, fuses or circuit breakers used to control, protect and isolate electrical equipment. Switchgear is used both to de-energize equipment to allow work to be ...

, high-voltage direct-current transmission) * Generators * Power plant technology * Low-voltage switchgear: switchgear for load feeders, components for power distribution, control and signaling devices, complete cubicle systems (

circuit breaker A circuit breaker is an electrical safety device designed to protect an electrical circuit from damage caused by an overcurrent or short circuit. Its basic function is to interrupt current flow to protect equipment and to prevent the ris ...

s, etc.) *

Turbine A turbine ( or ) (from the Greek , ''tyrbē'', or Latin ''turbo'', meaning vortex) is a rotary mechanical device that extracts energy from a fluid flow and converts it into useful work. The work produced by a turbine can be used for generating ...

Wind turbine A wind turbine is a device that converts the kinetic energy of wind into electrical energy. Hundreds of thousands of large turbines, in installations known as wind farms, now generate over 650 gigawatts of power, with 60 GW added each year. ...

steam Steam is a substance containing water in the gas phase, and sometimes also an aerosol of liquid water droplets, or air. This may occur due to evaporation or due to boiling, where heat is applied until water reaches the enthalpy of vaporizatio ...

and

gas turbine A gas turbine, also called a combustion turbine, is a type of continuous flow internal combustion engine. The main parts common to all gas turbine engines form the power-producing part (known as the gas generator or core) and are, in the directio ...

s *

Compressor A compressor is a mechanical device that increases the pressure of a gas by reducing its volume. An air compressor is a specific type of gas compressor. Compressors are similar to pumps: both increase the pressure on a fluid and both can tr ...

s * Electrolyzers

References

{{Siemens Siemens 2020 establishments in Germany 2020 initial public offerings Companies listed on the Frankfurt Stock Exchange Energy companies established in 2020 Energy companies of Germany Electronics companies of Germany Corporate spin-offs Companies in the DAX index Companies formerly in the MDAX