German Chancellor Olaf Scholz said he was “confident” that current talks with the government and banks about guarantees for Siemens Energy – the parent of loss-making wind turbine OEM Siemens Gamesa – will very soon come to a “good conclusion”.

Siemens Energy two weeks ago had acknowledged it is in talk about state aid in the form of around €15bn ($16bn) in guarantees needed to continue to finance large orders.