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Siemens Energy AG is a German publicly traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa.[1]
Christian Bruch is the CEO, and the former CEO of Siemens AG, Joe Kaeser, is the chairman of the supervisory board.[2]
At an Extraordinary Shareholders' Meeting of Siemens AG on 9 July 2020, its shareholders approved the split-up of the company.[3] Trading of the shares of the new Siemens Energy AG on the Frankfurt Stock Exchange began on 28 September 2020.[4] As of November 2024, Siemens retains a stake of 17% in the company.
Following quality problems with onshore turbines, Siemens Energy share price dropped by nearly 35% between 21–23 June 2023. In October 2023 the company announced it was seeking German government guarantees, following quality problems with rotor blades and gears in its newer onshore wind turbines. The company share price dropped once again sharply on 25 October 2023, but it regained most of this loss by 15 November 2023.[5] In 2024 Siemens Energy shares surged by more than 300%, making it the top performer in the Stoxx 600, with its share price reaching an all time high.[6]
The energy division has been an essential part of the company since the foundation of the group by Werner von Siemens and Johann Georg Halske. Important organizational milestones were the founding of Siemens-Schuckertwerke in 1903, the formation of the Power Engineering Division in 1969 in the newly founded Siemens AG, and the bundling of activities in the Siemens Energy Sector in 2008.[7]
Siemens Energy was created as an independent company in April 2020 as a result of a renewed restructuring of the Siemens Group. Siemens transferred its energy division to the new independent company for this purpose.[7]
The Group's product range mainly includes:
On July 14, 2026, the company announced[8] a transition to a new independent brand, changing its name to Omterra. Under this new identity, the current global operations of Siemens Energy and its subsidiary, Siemens Gamesa Renewable Energy, will be unified under a single corporate name.
The rebranding process was prompted by the expiration of the fixed-term licensing agreement that governed the use of the "Siemens" trademark following the company's spin-off[9] from Siemens AG in 2020. According to the company, its strategic direction for customers and business partners will remain unchanged. The transition to the Omterra name is set to be implemented progressively throughout the year.