in News Departments > New & Noteworthy
print the content item

Siemens' wind division saw a 20% year-over-year profit increase and a large boost in orders in the first quarter of the company's fiscal 2014, which spanned from Oct. 1 to Dec. 31, 2013.

According to the company's financial report, the wind division earned EUR 63 million ($86 million) in Q1, lifted by a 15% rise in revenue that included expansion of its service business compared to a year earlier.

Siemens says orders nearly doubled from the same period last year, when demand in the U.S. stalled due to potential expiration of tax incentives. The company adds that large orders for wind farms in Europe/CAME included two major offshore contracts in Germany, while order growth in the Americas included the contract win in the U.S. for the division’s largest onshore wind order to date: a 1.05 GW deal with MidAmerican Energy to supply Iowa wind farms.





Advertisement

Trachte_id2056
Latest Top Stories

Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.

Hybrid Energy Innovations 2015