Questions over the plight of stricken turbine giant Siemens Gamesa are set to dominate the quarterly results of parent group Siemens Energy on Monday as investors and the wider wind industry seek more visibility on technical issues that one analyst told Recharge could end up costing the group as much as €1.8bn ($2bn).
Siemens Energy rocked the industry in when it scrapped its financial forecasts for the year amid a “substantial increase in failure rates of wind turbine components” at Siemens Gamesa that it said could cost more than $1bn to rectify.
