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    SGRE   ES0143416115

SIEMENS GAMESA RENEWABLE ENERGY, S.A.

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Siemens Gamesa Renewable Energy S A : SSE, Siemens Gamesa to seek green hydrogen in Ireland, Scotland

07/26/2021 | 07:27am EDT
FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio

LONDON (Reuters) - British power generator SSE and Spanish wind turbine maker Siemens Gamesa will explore options to develop green hydrogen from two onshore wind farms in Scotland and Ireland, the companies said on Monday.

Many governments see green hydrogen, which is produced from water through electrolysis powered by renewable energy, as a way to curb emissions, especially those from industry that have so far been difficult to reduce, but its production is expensive.

"It took three decades for wind and solar to reach grid parity with fossil fuels, green hydrogen needs to do the same in one decade if we are to reach our 2050 carbon neutral targets," Paulina Hobbs, CEO of Siemens Gamesa Renewable Energy Service Northern Europe & Middle East, said in a statement.

The two companies said they would investigate developing green hydrogen at two as yet unnamed onshore wind farms and aim to work with green hydrogen customers across industries including transportation, major distilleries and gas network operators.

Britain, which has little green hydrogen production, aims to develop 5 gigawatts of low carbon hydrogen production capacity by 2030.

(Reporting By Susanna Twidale; editing by Barbara Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS GAMESA RENEWABLE ENERGY, S.A. -1.60% 22.12 Delayed Quote.-32.06%
SSE PLC -2.42% 1634.5 Delayed Quote.11.67%
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Financials
Sales 2021 10 248 M 12 021 M 12 021 M
Net income 2021 -531 M -623 M -623 M
Net Debt 2021 725 M 850 M 850 M
P/E ratio 2021 -27,6x
Yield 2021 0,08%
Capitalization 15 288 M 17 946 M 17 933 M
EV / Sales 2021 1,56x
EV / Sales 2022 1,47x
Nbr of Employees -
Free-Float 32,8%
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Siemens Gamesa Renewable Energy, S.A. Technical Analysis Chart | SGRE | ES0143416115 | MarketScreener
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 22,48 €
Average target price 25,29 €
Spread / Average Target 12,5%
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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