German government agrees to €7.5 billion guarantee for Siemens Gamesa

In November 2023, the German government agreed to provide a €7.5 billion guarantee to Siemens Gamesa, backstopping an €11 billion line of performance guarantees from a banking consortium. This bailout aims to support the struggling wind energy firm, a subsidiary of Siemens Energy, which has faced severe quality problems with its onshore wind turbines and difficulties obtaining financial guarantees from banks. The intervention is intended to ensure the company's continued operation and support the transition to a net-zero economy, despite concerns about Siemens Gamesa's economic viability and the terms of the bailout.

Counterparts (3)

Lender

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Federal Republic of Germany (FRG)

company

Investor

Siemens Gamesa

company · 1 deals

Siemens Gamesa is a wind turbine manufacturer that operates across the entire wind energy spectrum, including onshore, offshore, and services. They develop, manufacture, install, and service wind turbines, contributing to the global energy transition and offering solutions for a sustainable future.

borrower

S

Siemens Gamesa Renewable Energy, S.A.U.

company