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.





Trachte Inc._id1770
Latest Top Stories

Six Key Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965