Siemens’ Power Transmission division, which handles its offshore wind grid-connection operations, took a one-off €278m ($367m) charge in the group’s second-quarter financial results.
Siemens says this was “related primarily to grid connections to offshore wind-farms in Germany, resulting from revised estimates of required resources and personnel as well as delays associated with the projects’ complex marine and regulatory environment".
Siemens had already suffered a €203m charge in its first quarter relating to the same issue, and the second-quarter hit was widely anticipated.
The
