Siemens Energy and the NeuConnect consortium have signed a contract for the supply of a turnkey High-Voltage Direct Current (HVDC) transmission system for the first power link between Great Britain and Germany (“NeuConnect Interconnector”). The HVDC link will connect two of Europe's largest energy markets and enable up to 1.4 gigawatts of electricity to be exchanged in both directions, enough to power up to 1.5 million homes. Access to a more diverse and sustainable energy mix will increase security of supply in both countries. Through the more efficient use of renewable energy, the connection will result in savings of up to 16 million tons of CO2 emissions. The order value for Siemens Energy is in the high three-digit million euro range and will be booked for the current fiscal year.
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021.