Siemens Energy chosen for 2.6GW Taweelah C turbine supply
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The story
Siemens Energy secured the turbine supply contract for the 2.6GW Taweelah C project in Abu Dhabi, one of the larger gas-fired power plant awards in the Gulf region. The company's energy business has been recovering — FY2025 revenue stands at $3.0B (+2.3% YoY) with gross margins near 42% and diluted EPS of $3.32, reflecting a meaningful operational turnaround after prior years of losses tied to its wind unit.
This contract win reinforces Siemens Energy's positioning in large-scale gas turbine projects at a time when Middle Eastern utilities are expanding capacity aggressively. The key question is whether contract wins of this scale are already priced into the stock's recovery trajectory, or whether a continued backlog build could drive upside estimate revisions into the next earnings print.
The two-sided take
The house read
Two-sidedWrong ifSiemens Energy's wind segment (Siemens Gamesa) has been a persistent drag — any renewed turbine quality issues or write-downs there could overwhelm gas turbine contract momentum and weigh on the stock regardless of order wins.
Published read · research, not advice