Deals
Siemens Energy’s Troubled Wind Takeover Haunts Green Push
- German company set to control 93% of wind turbine maker
- Gamesa’s internal issues compounded wider industry problems
A worker passes wind turbine blades at the Siemens Gamesa Renewable Energy SA plant
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
With Siemens Energy AG taking full control of its troubled Gamesa unit, executives finally have a clear path to fix a business that’s delivered three years of straight losses.
After counting shareholder votes, the German company controls 93% of the wind turbine maker with a plan to move to full ownership and a de-listing of the manufacturer, Siemens Energy said Monday.