Teller Report

Government calls on banks to come to the rescue of Gamesa, which is asking for €3 billion to save 000,5 jobs

11/14/2023, 8:23:17 PM

Highlights: Government calls on Gamesa to come to the rescue of its employees. Gamesa has been hit by a series of problems, including problems with its turbines. The company has been forced to cut jobs in the wake of the crisis. It has also been hit with problems with the way it manages its finances. The government is now calling on the Gamesa staff to come up with a plan to deal with the problems. It is also asking for help from the public to find a solution to the problems it faces.

The government has come to grips with the Gamesa crisis and the aid announced by the German state to its parent company Siemens Energy. The company has asked Pedro's Executive...


The government has come to grips with the Gamesa crisis and the aid announced by the German state to its parent company Siemens Energy. The company has asked Pedro Sánchez's government for 3,000 million euros to save its structure in Spain, where it employs 5,000 workers directly, mainly in the Basque Country and Navarre.

"The future of Siemens Gamesa in Spain is a priority for the government," the Ministry of Industry said. "For this reason, work is being done on a possible line of bank guarantees for new Siemens Gamesa contracts abroad, with CESCE coverage on behalf of the State, for which it is in talks with both the company and potentially interested banks."

Germany has already announced this afternoon a similar financial structure to rescue Siemens Energy, Gamesa's parent company, which has precipitated the Spanish announcement. The wind turbine manufacturer will announce tomorrow morning losses of 4,500 million euros derived from the crisis that its sector is experiencing and its particular circumstances, which include defects in one of its turbines. The defects affect orders worth billions of euros and generate customer complaints.