March 02, 2015 4:17 PM ET

Electrical Equipment

Company Overview of Siemens Energy, Inc.

Company Overview

Siemens Energy, Inc. develops and builds fossil fuel power plants and power-generating components, gas and steam turbines, wind turbines, generators, renewables, hydro and wind power plants, solar power plants, geothermal energy systems, photovoltaic inverters, environmental systems, fuel gasifier systems, and fuel cells. The company also provides turbines for use as mechanical drives; compressors for industrial applications; instrumentation, automation, protection, and control systems; power transmission and distribution systems; closed-loop and open-loop systems for industrial steam turbines; and compression, expansion, and ventilation systems, as well as fuel cell technologies and service...

4400 Alafaya Trail

Orlando, FL 32826

United States

Founded in 1997





Key Executives for Siemens Energy, Inc.

Chief Executive Officer, President and Chief Executive Officer of Siemens Energy Service
Age: 60
Chief Executive Officer of Oil and Gas Division
Age: 56
Chief Financial Officer of Power Generation
Head of Fossil Power Generation Europe, Africa, Asia Pacific
Head of Fossil Power Generation Operating Plant Services
Compensation as of Fiscal Year 2014.

Siemens Energy, Inc. Key Developments

Kvaerner North American Construction Inc. Reaches Settlement Agreements with Longview Power, LLC, Siemens Energy, Inc. and Others

Kvaerner North American Construction Inc. has executed agreements with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent bankruptcy cases of Longview Power, LLC. Under the agreements, Kvaerner North American Construction Inc. will receive an aggregate amount of USD 48 million from various parties. In consideration, Kvaerner North American Construction Inc. will settle certain claims and release the Mechanics' Liens filed against the Longview power plant properties in Maidsville, West Virginia, and will waive all objections in the ongoing Longview Power, LLC bankruptcy proceedings. The settlement is subject to approval in the bankruptcy proceedings. The approval is expected to take place in January 2015 with the receipt of the above-referenced amounts anticipated to occur in February 2015. The financial effects of the agreement will be recognized in Kvaerner's first quarter 2015 accounts. The main financial effects will be reduction of retained assets in the group's balance sheet of USD 48 million. The agreements, upon approval, significantly reduce Kvaerner's uncertainty regarding the final financial outcome of the arbitration and resolve all counterclaims from Longview Power, LLC.

Siemens Energy Secures First Wind Power Contract in Belgium

Siemens Energy has secured its first wind power contract in Belgium with an order for the first phase of the Wind aan de Stroom project on the left bank of the Schelde River in Antwerp harbor. This first phase consists of 11 direct-drive wind turbines of the Siemens D3-platform; however, the project can be extended to 17 wind turbines. The project was put out to tender by Wind aan de Stroom, a partnership between Gemeentelijk Havenbedrijf Antwerpen, Maatschappij Linkerscheldeoever and GEHA. The high density of industrial and harbor operations in the port create an installation challenge. However, the compact design and low weight of Siemens' D3 direct-drive wind turbines can accommodate the tight sites. The D3 wind turbines are rated at 3 MW each and will be mounted on 115-m (377-ft) towers. The rotor diameters are 113 m (371 ft); one turbine will be equipped with a 101-m (331-ft) rotor to meet specific site conditions. The wind power plant will be integrated in a smart grid, which is currently developed as part of a pilot project with the Belgian distribution system operator Eandis. Therefore, the energy production of the turbines will be controlled through the smart grid. Eandis will research new technologies that will allow the connection of more renewable energy for a more affordable price and in shorter time spans. Component deliveries will start in early 2015, and turbine installation is scheduled for the summer of 2015. The contract includes a 15-year service and maintenance agreement.

Siemens Energy Provides 150 Wind Turbines for Largest Dutch Offshore Project

The Gemini consortium has signed all construction, operations and financing contracts with a total construction budget of nearly EUR 3 billion. With more than 20 parties involved 70% of this budget will be provided on the basis of project financing, making Gemini the larger-ever project financed offshore wind farm. For the Gemini project Siemens will deliver 150 wind turbines with a capacity of 4 megawatts (MW) and a rotor diameter of 130 meters each. The wind power plant is to be located in the North Sea, 85 km above the coast of Groningen. With an installed capacity of 600 MW in total Gemini will yield 2.6 terawatt hours (TWh) of electricity per year. The wind power plant will supply clean energy for one and a half million people after being fully commissioned. The amount of energy is equivalent to a reduction in the emission of CO2 by 1.25 million tons per year. For Siemens this is the first order for an offshore wind power plant in Dutch waters. The innovative service concept banks on the ongoing presence of a service vessel and the steady ground readiness of a helicopter. Siemens' 15-year service and maintenance agreement for the Gemini project is the larger service order ever for Siemens Energy Service. It will introduce a highly advanced logistics concept for offshore sites. For the first time, a helicopter will be available for a project at all times and a specially designed, purpose-built service operation vessel will be based at the wind farm. To ensure increased turbine availability, maintenance work can be carried out at almost all times irrespective of the weather conditions or wave height.

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