Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Spain
  4. Bolsas y Mercados Espanoles
  5. Siemens Gamesa Renewable Energy, S.A.
  6. News
  7. Summary
    SGRE   ES0143416115

SIEMENS GAMESA RENEWABLE ENERGY, S.A.

(SGRE)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 10/21 03:59:59 pm
22.095 EUR   +1.68%
10/19SIEMENS GAMESA : JP Morgan reiterates its Neutral rating
MD
10/18Siemens To Carve Out Large-Drives Applications Unit
DJ
10/15SIEMENS GAMESA : Goldman Sachs gives a Buy rating
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Pioneering again in Taiwan: Siemens Gamesa inaugurates new offshore nacelle assembly facility

09/14/2021 | 04:02am EDT

Press Release

September 14, 2021

Pioneering again in Taiwan: Siemens Gamesa inaugurates new offshore nacelle assembly facility

  • First Siemens Gamesa offshore wind turbine nacelle assembly facility outside of Europe starts regular operations in Taichung Harbor
  • Taiwan's first locally-assembled offshore wind turbine nacelle was ready in August 2021
  • Facility accelerated by firm order to supply Ørsted's 900 MW Greater Changhua 1 & 2a project; will also fully support future Siemens Gamesa projects in Asia Pacific
  • Siemens Gamesa invests in local talents for ramp up of production; approximately 80 professionals trained and working already

Siemens Gamesa Renewable Energy again pioneers the Taiwanese offshore wind power industry by today officially inaugurating its new offshore facility in Taichung. This is the company's first offshore nacelle assembly facility outside of Europe. The ceremony was attended together by central and local government authorities and wind industry partners.

As announced in 2019, the facility will now be starting regular operations, after having already completed Taiwan's very first local offshore wind turbine nacelle assembly in early August 2021. This represents another important milestone for the company in the fast-growingAsia-Pacific region, as well as for the offshore wind industry in Taiwan.

"Siemens Gamesa leads the way in providing wind turbine solutions for the Taiwanese offshore wind market with 2 GW of firm orders and an additional 1 GW in place as preferred supplier. Today's inauguration demonstrates our pioneering spirit and commitment to leading the offshore revolution in the market and the APAC region. Working with dedicated, local professionals who strive to safely increase the deployment of offshore wind power energizes us to continue with our global growth plans," says Marc Becker, CEO of the Offshore Business Unit in Siemens Gamesa.

Page 1 of 3

The piece of land developed in Taichung measures over 30,000 square meters, and is currently used for nacelle assembly, testing, warehousing, office buildings, and outdoor storage. Construction started in April 2020 and was completed in Q3 this year. It will support Ørsted's 900 MW Greater Changhua 1

  • 2a Offshore Wind Farms, which will employ SG 8.0-167 DD offshore wind turbines. It will also provide an option for future projects in Taiwan and in the rest of the promising region.

With Siemens Gamesa's inauguration of Taiwan's first nacelle assembly facility, we have achieved the significant milestone in development of offshore wind industry, and it is also seen as an important step in the implementation of local content for the industry. This is just a beginning, and I sincerely hope Siemens Gamesa can continue to expand its footprint in terms of local content and play the constructive role in enabling Taiwan's energy transition," says Shen Jong-Chin, Vice Premier of Executive Yuan, Taiwan.

"We are very proud to once again deliver on our promises in Taiwan, together with our client Ørsted, our contractors, central and local authorities who have contributed and guided us throughout the process. We are confident that with the right policy framework on offshore wind, we will help Taiwan realize a cleaner and more sustainable future. We are looking forward to leveraging this local footprint to serve this purpose and deliver offshore wind nacelles to projects in the region," says Niels Steenberg, General Manager of Siemens Gamesa Offshore for Asia-Pacific.

Matthias Bausenwein, President of Ørsted Asia-Pacific, says: "Ørsted is spearheading offshore wind development in Asia-Pacific, leveraging more than 30 years of experience in this industry. In Taiwan, we have, from day one, taken solid steps in building an offshore wind eco-system. This nacelle assembly facility well demonstrates that it takes projects with scale, thorough planning and preparation, and commitment of significant and experienced resources to build a strong supply chain, consisting of competitive local suppliers and international best-in-class suppliers, who are determined to invest in Taiwan."

Siemens Gamesa was awarded the firm order to supply 111 SG 8.0-167 DD offshore wind turbines to Ørsted's Greater Changhua 1 & 2a projects in January 2019. This order accelerated the development of the now-inaugurated offshore nacelle assembly facility.

Christy Wang, General Manager of Ørsted Taiwan, remarks: "In the supply chain plan that Ørsted submitted in 2019, we made extensive additional local content commitments, including building a nacelle assembly facility in Taiwan by our wind turbine supplier. Today's inauguration is excellent evidence that we are going above and beyond local content requirements and highlights the concrete contributions of Ørsted to support long term development of Taiwan's offshore wind industry. We are delighted to see

Page 2 of 3

this important project milestone realised for our Greater Changhua 1 & 2a Offshore Wind Farms, and we look forward to seeing the on time and on quality delivery of the wind turbines and nacelles next year

by Siemens Gamesa. "

"As part of the ramp-up program of the facility, Siemens Gamesa committed to supporting local

offshore wind professionals, and developing their skills to match world-class manufacturing standards. Since May 2021, approximately 80 nacelle technicians received Siemens Gamesa Technical Trainings through a partnership with the Metal Industries Research & Development Centre. This dedicated training plan was crucial to enabling the on-time production start in August 2021.

"Siemens Gamesa is the world's leader in the offshore wind industry. Today with the inauguration of Taiwan's first offshore wind nacelle assembly facility, it establishes Taiwan as the offshore wind industrial hub in Asia-Pacific. This development has direct positive effects on the economics of and local employment in the Taichung Industrial Zone II," says Bruce J.D. Linghu, Deputy Mayor of the Taichung City Government.

Siemens Gamesa pioneered the entire offshore wind industry in Taiwan in 2016 with the installation of the first two turbines at the 8 MW Formosa 1 Phase 1 pilot project. A ten-fold increase in machines to 20 units was installed in 2019 at Formosa 1 Phase 2. Totaling 128 MW, Formosa 1 was the country's first commercial offshore wind power project.

About Siemens Gamesa Renewable Energy

Siemens Gamesa unlocks the power of wind. For more than 40 years, we have been a pioneer and leader of the wind industry, and today our team of more than 25,000 colleagues work at the center of the global energy revolution to tackle the most significant challenge of our generation - the climate crisis. With a leading position in onshore, offshore, and service, we engineer, build and deliver powerful and reliable wind energy solutions in strong partnership with our customers. A global business with local impact, we have installed more than 110 GW and provide access to clean, affordable and sustainable energy that keeps the lights on across the world. To find out more, visit www.siemensgamesa.com and connect with us on social media.

Contacts for journalists

Bernice Chen

Phone: + 886 903 028 587 bernice.chen.ext@siemensgamesa.com

For more information: www.siemensgamesa.com

Follow us on:

Facebook: www.facebook.com/SiemensGamesaTW/

LinkedIn: www.linkedin.com/company/siemensgamesa/

Instagram: www.instagram.com/siemensgamesa/

Twitter: www.twitter.com/SiemensGamesa

Page 3 of 3

Disclaimer

Siemens Gamesa Renewable Energy SA published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 08:01:09 UTC.


© Publicnow 2021
All news about SIEMENS GAMESA RENEWABLE ENERGY, S.A.
10/19SIEMENS GAMESA : JP Morgan reiterates its Neutral rating
MD
10/18Siemens To Carve Out Large-Drives Applications Unit
DJ
10/15SIEMENS GAMESA : Goldman Sachs gives a Buy rating
MD
10/14SIEMENS GAMESA : UBS remains Neutral
MD
10/12SIEMENS GAMESA RENEWABLE ENERGY S A : Sweden's Vattenfall to stop sending wind turbine bla..
RE
10/11SIEMENS GAMESA : JP Morgan remains Neutral
MD
10/06SIEMENS GAMESA : Deutsche Bank sticks Neutral
MD
10/04SIEMENS GAMESA RENEWABLE ENERGY S A : Fourth Quarter FY21 - Save Date
PU
09/27European shares end lower; German stocks rise on election relief
RE
09/27SIEMENS GAMESA RENEWABLE ENERGY S A : celebrates long-term East Anglia ONE offshore servic..
PU
More news
Analyst Recommendations on SIEMENS GAMESA RENEWABLE ENERGY, S.A.
More recommendations
Financials
Sales 2021 10 239 M 11 902 M 11 902 M
Net income 2021 -540 M -628 M -628 M
Net Debt 2021 716 M 832 M 832 M
P/E ratio 2021 -26,6x
Yield 2021 0,08%
Capitalization 15 016 M 17 485 M 17 455 M
EV / Sales 2021 1,54x
EV / Sales 2022 1,47x
Nbr of Employees -
Free-Float 32,8%
Chart SIEMENS GAMESA RENEWABLE ENERGY, S.A.
Duration : Period :
Siemens Gamesa Renewable Energy, S.A. Technical Analysis Chart | SGRE | ES0143416115 | MarketScreener
Technical analysis trends SIEMENS GAMESA RENEWABLE ENERGY, S.A.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 21,73 €
Average target price 24,28 €
Spread / Average Target 11,7%
EPS Revisions
Managers and Directors
Andreas Nauen Chief Executive Officer & Director
Beatriz Puente Ferreras Chief Financial Officer
Miguel Angel López Borrego Chairman
Alan Feeley Chief Information & Cyber Security Officer
Antonio de la Torre Chief Technology Officer