Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is "very important".  Apparently talks are "intensive", which presumably means the company is on death's door and the German government is being asked to help save it.

And so we arrive at a point where a company selling products that depend on government subsidies is now asking to be subsidized itself. And the whole green industry depended on government pumped "science" and artificially low interest rates to exist in the first place. Like a pyramid scheme skiing on a two ponzi scams, sooner or later it has to collapse.

Tyler Durden, ZeroHedge

Siemens Energy Shares Crash 37% As Renewable Bust Sparks 'Green Panic'

Siemens Energy shares in Germany crashed on Thursday after the company warned its wind turbine business is grappling with quality issues and offshore ramp-up challenges. The company said it's evaluating various measures to strengthen its balance sheet and is discussing state guarantees with the German government. This comes as a financial crisis in offshore wind energy is brewing.