The German government has approved a 7.5 billion-euro ($8 billion) loan guarantee to support Siemens Energy, a key player in renewable energy, facing issues with its Gamesa wind energy subsidiary. The financial aid, part of a 15 billion-euro package, comes with the condition that all stakeholders contribute to the company’s stability. The overall support includes 15 billion euros in guarantee lines, with private banks providing 12 billion euros, Siemens Energy securing the rest, and the government ensuring the guarantees with 7.5 billion euros. Siemens Energy and Siemens AG are exploring the sale of shares in a joint venture, aiming to generate around 2 billion euros. During this period, Siemens Energy will abstain from offering dividends or management bonuses.
German Government Backs Siemens Energy with $8 Billion amid Industry Challenges
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2023/11/15002052/siemens.jpeg)