Siemens Energy shares soar as troubled wind turbine maker plays down bailout talk

'The company obviously doesn’t need money from the state', chairman said

Germany’s economy ministry, led by the Green Party’s Robert Habeck, is prepared to support Siemens Energy, viewing it as a strategic asset that will play an important role in protecting energy supplies.

Shares in Siemens Energy soared after board chairman Joe Kaeser pushed back against suggestions the troubled turbine maker may need a taxpayer-funded bailout from the German government.

“The company obviously doesn’t need money from the state,” Mr Kaeser told newspaper Welt am Sonntag. “All segments apart from the wind business are doing well, partly better than at the competition,” he said.