Statement on the federal government's support for Siemens Energy

16 November 2023

The Federal Association of Offshore Wind Energy welcomes the federal government's decision to support Siemens Energy with guarantees. “This measure is a crucial step in expanding a robust supply chain, which is essential for implementing the legally established expansion goals in the area of ​​offshore wind energy,” says Stephen Thimm, Managing Director of the BWO.

“The decision underlines the government’s industrial policy commitment to supporting the development and scaling of the wind energy industry. The energy transition at sea requires a strong expansion of industrial capacities, especially in the production of wind turbines. We are convinced that this step will make a significant contribution to securing jobs, creating new job opportunities and ensuring the stability of the entire European offshore wind industry value chain,” said Thimm.

“A strong supply chain is central to achieving the expansion targets for offshore wind and driving forward the energy transition. The support of key players such as Siemens Energy will help obtain the necessary experience and expertise,” he adds. 

Hintergrund:

The Federal Ministry for Economic Affairs and Climate Protection, the Federal Chancellery and the Federal Ministry of Finance have decided to grant Siemens Energy AG a guarantee of 7,5 billion euros. This guarantee is part of the company's guarantee lines totaling EUR 15 billion, which are agreed with banks and other stakeholders. The federal government's commitment has been made according to the Federal Ministry of Economics provided that the contributions of the other stakeholders are made.