Saving Siemens.

The German government has agreed to provide €7.5 billion of state guarantees to embattled renewables group Siemens Energy as part of a €15 billion rescue package, Financial Times reported.

The rescue package is vital to sustaining a €110 billion portfolio of clean energy projects planned by the company, including what will be Europe’s largest electrolyzer manufacturing factory.

Anca Gurzu

Chief Europe Correspondent