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US law firms plan ‘securities fraud’ lawsuit against Siemens Energy

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US law firms plan ‘securities fraud’ lawsuit against Siemens Energy | Windpower Monthly

US law firms plan ‘securities fraud’ lawsuit against Siemens Energy

Siemens Energy has been threatened with a series of class action lawsuits after its disclosure of widespread turbine failure issues at subsidiary Siemens Gamesa prompted the parent company’s share price to crash.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.

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