Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Deutsche Boerse AG
  5. Siemens Energy AG
  6. News
  7. Summary
    ENR   DE000ENER6Y0

SIEMENS ENERGY AG

(ENR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Siemens Energy : makes renewable energy transportable on German SuedOstLink electricity highway

05/31/2021 | 06:08am EDT

Press release

Munich, May 31, 2021

Siemens Energy makes renewable energy transportable on German SuedOstLink electricity highway

  • SuedOstLink will transport environmentally friendly electricity from northern to southern Germany
  • High-voltagedirect current transmission enables low-loss transport of up to two gigawatts over more than 500 kilometers

The demand for renewable energy is rising. In 2020, global production of electricity from renewable sources, such as wind or solar energy, increased by 10.3 percent. Most environmentally friendly electricity in Germany is produced on land and at sea by large wind power plants in the north.

At the same time, Germany also needs electricity in its south region where most industrial plants are located, and a growing number of conventional power plants are being taken offline.

To ensure a continued reliable supply of energy in Southern Germany, transmission system operators 50Hertz and TenneT are planning to build the SuedOstLink electricity highway. It will transport excess energy from northern Germany and ensure that green electricity can be supplied to the South. Siemens Energy will deliver the converter technology, that will enable the low-loss transport of electricity over more than 500 kilometers.

The converter stations, designed to convert direct to alternating current and vice versa, will be built at Wolmirstedt in Saxony-Anhalt and near Landshut in Bavaria. In the case of excess wind energy, the northern Wolmirstedt converter station will convert the alternating current into direct current. The energy will be transported to the south via underground cables with a voltage of 525 kilovolts. The Isar station in the south will convert the incoming direct current back into alternating current and feed it into the distribution network.

Up to two gigawatts of electricity can be transported in both directions to flexibly react to fluctuations in electricity demand and supply. The transmission capacity will be sufficient to supply more than four million households with electricity.

Siemens Energy AG

Otto-Hahn-Ring 6

Communications

81739 Munich

Head: Robin Zimmermann

Germany

Siemens Energy is a registered trademark licensed by Siemens AG.

Page 1 of 3

Press release

"An essential component of the energy transition is an efficient grid," said Tim Holt, member of the Executive Board of Siemens Energy. "If we want to exploit the full potential of renewable energies and thus also of the energy transition, the transmission networks must be expanded accordingly.

We are pleased to be able to make an important contribution to the European energy transition with SuedOstLink."

The high-voltage direct current (HVDC) link will include Siemens Energy's market leading HVDC PLUS with voltage-sourced converters (VSC) based on modular multi-level converter (MMC) technology. Compared to other technologies, these systems offer advantages for the overall network operation, including flexible power control, also in regard to reactive power, and black start capability to restore the network power supply. The project represents the most powerful HVDC system in VSC technology worldwide.

Contact for journalists

Christina Hümmer

Telefon: +49 152 07158923

E-Mail: Christina.Huemmer@siemens-energy.com

This press release and a press picture are available at

www.siemens-energy.com/press

For further information on Siemens Energy Transmission, please see https://www.siemens- energy.com/global/en/offerings/power-transmission.html

For further information on high-voltage direct current technology, please see https://www.siemens- energy.com/global/en/offerings/power-transmission/portfolio/high-voltage-direct-current- transmission-solutions.html

Follow us on Twitter at: www.twitter.com/siemens_energy

Siemens Energy is one of the world's leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain - from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology,

such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs

Siemens Energy AG

Otto-Hahn-Ring 6

Communications

81739 Munich

Head: Robin Zimmermann

Germany

Siemens Energy is a registered trademark licensed by Siemens AG.

Page 2 of 3

Press release

more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.

Siemens Energy AG

Otto-Hahn-Ring 6

Communications

81739 Munich

Head: Robin Zimmermann

Germany

Siemens Energy is a registered trademark licensed by Siemens AG.

Page 3 of 3

Disclaimer

Siemens Energy AG published this content on 31 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2021 10:07:05 UTC.


ę Publicnow 2021
All news about SIEMENS ENERGY AG
07/23Siemens new natural extinguishing agents protect business continuity in criti..
AQ
07/21ANALYSIS : Helpless bystander? Siemens Energy's $5.9 billion wind power problem
RE
07/21SIEMENS ENERGY : Buy rating from Goldman Sachs
MD
07/19Siemens supports first responders in fight against flood
AQ
07/16SIEMENS ENERGY : NorldLB sticks Neutral
MD
07/16Siemens - eBus charging solution from Siemens paves way for climate-neutral b..
AQ
07/16SIEMENS ENERGY : JP Morgan reiterates its Buy rating
MD
07/15SIEMENS ENERGY : DZ Bank maintains a Buy rating
MD
07/15DAIMLER : European bourses sink on growth worries, disappointing earnings
RE
07/15SIEMENS ENERGY : UBS reiterates its Buy rating
MD
More news
Financials
Sales 2021 28 832 M 34 072 M 34 072 M
Net income 2021 -115 M -136 M -136 M
Net cash 2021 2 047 M 2 419 M 2 419 M
P/E ratio 2021 -142x
Yield 2021 0,77%
Capitalization 16 068 M 19 013 M 18 988 M
EV / Sales 2021 0,49x
EV / Sales 2022 0,44x
Nbr of Employees 93 000
Free-Float 58,3%
Chart SIEMENS ENERGY AG
Duration : Period :
Siemens Energy AG Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 22,64 €
Average target price 33,77 €
Spread / Average Target 49,1%
EPS Revisions
Managers and Directors
Christian Bruch President & Chief Executive Officer
Maria Ferraro Chief Financial & Diversity Officer
Josef Kaeser Chairman-Supervisory Board
GŘnter Augustat Member-Supervisory Board
Manfred Bńreis Member-Supervisory Board