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Share Name Share Symbol Market Type
Allianz AG XE:ALV XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.30 -1.27% 178.78 178.78 178.50 181.92 177.58 181.46 838,328 16:45:00

Siemens Energy Gets Order for UK-Germany Wind Energy Power Connection Link

11/04/2022 10:56am

Dow Jones News


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   By Ed Frankl 
 

Siemens Energy AG said Monday that it has received an order to supply a transmission system for a new wind power link between the U.K. and Germany.

The high-voltage direct-current link will connect the two countries and enable up to 1.4 gigawatts of surplus wind energy to be exchanged in both directions, enough to power 1.5 million homes, the Munich-based company said.

The order value for Siemens Energy is in the high three-digit million euro range and will be booked for the current fiscal year, it said.

The supply contract is with the NeuConnect consortium, a group led by investors Meridiam, Allianz Capital Partners and Kansai Electric Power, the company said.

Through more efficient use of renewable energy, the connection will save up to 16 million tons of carbon emissions, Siemens Energy said.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

April 11, 2022 05:41 ET (09:41 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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