SIEMENS Energy has tabled a €4.05bn (£3.5bn) bid to snap up the remaining third of shares it does not own in its troubled wind energy unit listed in Spain.

It confirmed the bid for renewables specialist Siemens Gamesa yesterday, which was authorised by the Spanish stock market regulator CNMW last week.

Siemens Energy first announced its plan in May to improve its control over operational problems at the division - which issued three profit warnings in less than a year.

The division has been struggling to compete with cheaper Chinese imports, amid growing emphasis on supply security across Europe.

Its chief executive Jochen Eickholt last month called for a quota to protect the volume of turbines installed across the continent produced in the European Union.

Siemens Gamesa was the thirdlargest maker last year of newly installed wind turbines across Europe. However, it saw losses swell to €1.2bn in the nine months to June and recently announced it was cutting 10 per cent of its workforce.

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