A Siemens Gamesa offshore wind turbine

Siemens Gamesa clicks “Refresh” button on its corporate strategy

At its virtual Capital Markets Day held on 27 August, Siemens Gamesa presented “a refreshed” corporate strategy which revolves around tapping into growth opportunities for its offshore wind and services businesses, and driving a turnaround in the onshore market.

Siemens Gamesa Renewable Energy/Illustration

With strong growth expected in particular in the offshore and services markets over the next decade, Siemens Gamesa plans to tap into these segments.

The company stated that more than 180 GW of offshore wind is expected to be installed worldwide between 2020 and 2030 and, to capture the global market growth, Siemens Gamesa said it planned to continue to develop its technology and deliver innovative solutions such as the new SG14-222 DD turbine.

“Together with the market, SGRE will also globalize its offshore operations in close collaboration with its customers and will maintain execution excellence as a key pillar to maintain its profitable leadership position”, the company stated.

Also, the wind turbine supplier sees opportunities in the emerging green hydrogen market, where it expects wind energy to play a key role.

“We have a strong profitable competitive position in the growing Offshore (#1) and Services (#2) markets, and there is very significant potential in our Onshore business that we will realize through the turnaround process now underway”, said Andreas Nauen, CEO of Siemens Gamesa.

“A new management team has been appointed to lead the turnaround. Additionally, through our new core shareholder, Siemens Energy, we will be part of an energy powerhouse, and we expect to be able to benefit from strong synergy potential”.

The company said its strategy was supported by an acceleration program, called LEAP, which is based on three pillars: innovation, productivity, and operational excellence.

Digitalisation and sustainability are at the heart of the LEAP program, as enablers and differentiating factors, Siemens Gamesa said.