Siemens Energy Lands 119-Turbine Order and C$1.3 Billion Nuclear Deal as Siemens AG Exits Register
Published on 10/01/2026 at 03:20 | Editorial boerse-global.de
A pair of major contract wins has given Siemens Energy's power plant business a firmer footing well into the next decade, even as the stock absorbed profit-taking in midweek trading.
The company finalized an agreement with Dynamis Power Solutions to supply 119 units of its SGT-400 gas turbine. Each turbine core delivers roughly 15 megawatts, and the first batch is slated for delivery in 2027. For the manufacturing side, the deal translates into a dependable base load stretching far beyond the coming year.
That order arrived barely a week after a second large-scale project surfaced. Together with Aecon Group, Siemens Energy secured a contract from Ontario Power Generation worth 1.3 billion CAD to replace the turbine generators at Canada's Pickering nuclear station. Aecon holds the majority stake in the executing consortium, with on-site work scheduled to begin in January 2027. The project still hinges on pending regulatory approval.
Boardroom Change and a Bullish Analyst Call
Alongside its operational momentum, the DAX-listed group is reshaping its supervisory board. Matthias Rebellius stepped down on September 30 at his own request, leaving ahead of schedule. The Munich district court appointed Pekka Lundmark as his successor effective October 1, a reshuffle that lands just as the new fiscal year gets underway.
Analysts, for their part, remain constructive. Private bank Berenberg reaffirmed its "Buy" rating on September 25 and set a price target of 205 euros.
Should investors sell immediately? Or is it worth buying Siemens Energy?
Demand Signals Strong, but the Full Picture Waits
Management offered a sentiment check rather than fresh figures during Wednesday's pre-close call for the fourth quarter. The discussion centered on whether demand can stay resilient as enormous electricity needs collide with renewed macroeconomic jitters.
Investors reacted cautiously. The shares shed 2.2% on Wednesday to close at 142.78 euros, though they remain up 19% since the start of the year. By midweek the stock was quoted at 142.42 euros, down 2.5% on the day, with a year-to-date gain of 18%.
The underlying growth engine is hard to miss. Data centers built for artificial intelligence, aging power grids in need of modernization, and the decarbonization of heavy industry all demand heavy spending on energy infrastructure. That dynamic already showed up in the third quarter of fiscal 2026, when the company booked record orders of 17.9 billion euros and record revenue of 11.4 billion euros. The wind power subsidiary Siemens Gamesa also returned to operating profit for the first time since the fourth quarter of fiscal 2022.
Sentiment has not been immune to outside noise. According to media reports, the stock came under noticeable pressure in September as worries about a slowdown in global technology investment and rising US Treasury yields weighed on the sector.
Spinning Off Transformation of Industry
Management is working to sharpen the company's profile beyond day-to-day operations. Roughly a month ago, leadership initiated the carve-out of the Transformation of Industry division, aiming to create a standalone entity. The options under consideration range from bringing in outside investors to a full capital markets transaction. A third tranche of the multibillion-euro share buyback program launched about a week ago.
On the shareholder register, the legacy tie to Siemens AG continues to fade. On September 8, the former parent cut its voting stake to 4.98%, dropping below the 5% disclosure threshold for the first time. Siemens Energy now stands on its own, charting its course in the global energy market largely independently.
The waiting game ends on November 11, 2026, when the company publishes its complete figures for fiscal 2026. Only then will it become clear how strongly new business has flowed through to operating profit. Until that point, Siemens Energy remains a barometer for the global infrastructure cycle: fundamentally supported by a historic investment boom, yet tested on the exchange by rising expectations for margins and discipline.
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