Siemens Energy’s Hydrogen Push Offers a Counterweight to Sector Turbulence
Published on 07/23/2026 at 13:01 | Redaktion boerse-global.de
A fresh partnership with Algeria’s state oil company is giving Siemens Energy a strategic foothold in the green hydrogen race, even as the stock absorbs the shockwaves from a rival’s lackluster wind-power results. The Munich-based group signed a memorandum of understanding with Sonatrach last Friday during Algerian President Abdelmadjid Tebboune’s visit to Berlin, with the aim of turning the North African nation into a hydrogen hub. The deal, confirmed publicly on Wednesday, covers technology supply, potential local production of electrolysers, maintenance of existing facilities, and digital tools for predictive upkeep. Algeria’s abundant solar and wind resources make it a natural candidate for low-carbon energy production.
The announcement arrives at a time when Siemens Energy’s share price is navigating a sector-wide pullback. The stock was trading at €150.82 on Thursday, down 0.37% from the previous close, after a broader sell-off in energy technology stocks triggered by GE Vernova’s second-quarter results. The US conglomerate posted a 22% revenue jump to $11.1 billion, but its wind division continued to bleed red ink, with order intake sliding and operating losses widening. That was enough to spark profit-taking across the Atlantic, hitting Siemens Energy and German peer Nordex particularly hard, given their recent strong runs.
JPMorgan analyst Phil Buller dismissed the dip as overdone, reiterating an “Overweight” rating and a €235 price target. Buller argued that GE Vernova’s wind troubles are not transferable to Siemens Energy’s own wind recovery story, which will soon operate under the new brand Omterra. UBS and RBC Capital Markets have also raised their targets to €210, signaling growing confidence in CEO Christian Bruch’s margin ambitions. The stock remains up roughly 25% year-to-date, though it sits about 23% below its April peak of €195.54.
Should investors sell immediately? Or is it worth buying Siemens Energy?
Back home, Siemens Energy is laying the groundwork for another hydrogen milestone. On the site of the former Moorburg coal-fired power plant in Hamburg, the company is supplying core technology for a 100-megawatt electrolyser as part of the Hamburg Green Hydrogen Hub. Production is slated to begin in the second half of 2027, churning out around 10,000 tonnes of green hydrogen annually. Long-term maintenance contracts and compression stations round out the order, reinforcing Siemens Energy’s presence across the entire hydrogen value chain.
The stock’s technical picture offers a mixed read. At current levels, it trades above its 200-day moving average of €144.91 but well below its 50-day average, with a relative strength index of 44.6 indicating neither oversold nor overbought conditions. The 30-day performance is negative at minus 7.12%, reflecting the recent sector jitters, but the weekly gain of 2.31% suggests some stabilization.
Siemens Energy is due to report its third-quarter results on August 5, with the quiet period now in effect. Until then, the market will have to weigh the hydrogen momentum against the lingering volatility from the GE Vernova episode and the broader sector’s valuation concerns. The Algeria and Hamburg projects provide tangible proof points for the group’s hydrogen strategy, but the share price remains hostage to the narrative that any wind-related disappointment can quickly infect the entire sector.
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