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Siemens Energy has reported a substantial increase in profits fueled by a high demand for gas turbines, primarily driven by the energy needs of new data centers. In the first quarter of the fiscal year, the company secured orders for about 100 gas turbines, with total orders anticipated to reach 200 by 2025.

The order intake rose by 34% to €17.6 billion, with operational profit doubling to €1 billion and net profit tripling to €746 million. The U.S. is experiencing a rapid expansion of gas power plants, while Germany plans to increase its gas capacity by around 10 gigawatts. The International Energy Agency forecasts that global gas demand will peak in the 2040s, amid a backdrop of rising electricity needs that outpace infrastructure development.