Siemens’ troubles mount on wind turbine flaws

MUNICH: Siemens Energy AG’s efforts to finally return to profitability have been dealt yet another blow by its struggling Spanish wind turbine business, with more product quality issues coming to light.

The German gas turbine and grid technology maker now expects a 2023 net loss at around last year’s level, Siemens Energy said, which would bring deficits over the past four years to about €3.7bil (RM17.1bil).