The banks that took part in the negotiations will provide 12 billion euros and the German state will guarantee loans worth 7.5 billion euros.
The energy technology company Siemens Energy will receive guarantees for major projects worth 15 billion euros, the German newspaper reported on Monday Handelsblat.
Siemens Energy will publish the details of this state aid on Wednesday when presenting its balance sheet for the 2023 financial year. Actions Siemens Energy rose by 4.6% to 9.82 euros on the Frankfurt stock exchange around noon.
According to the information released so far, the banks who also took part in the negotiations will provide EUR 12 billion German state will cover repayment guarantees for loans worth EUR 7.5 billion. A solution has also been found for the remaining 3 billion.
The supervisory boards of Siemens Energy and Siemens still have to approve the solution.
The company has three factories in the CAV (Zamudio, Asteasu and Mungia) – a workforce of 1,011 employees – and another two in Navarra (Sarriguren and Arazuri) – 1,823 employees.
Last October, Siemens Energy explained that it is conducting “preliminary discussions” with several interested parties, including banking partners and the German government, with the aim of accessing the necessary guarantees to facilitate project development.
Source: EITB
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