German energy company Siemens Energy has announced that problems at its wind turbine unit will cost €2.2bn ($2.4bn), far below worst-case estimates. The charges will result in a net loss of £4.5bn in 2023, while the company also cut its sales outlook and issued a new, lower profit outlook. The problems stem from issues with components for its newer onshore turbines and ramp-up issues for offshore production. The issues have led to a third loss in market value for the business, incurred around €6bn.
