AI Boom Has Europeans Paying Extra to Secure Gas Turbines (1)

Europe’s race to secure power for data centers and electrification projects is becoming so intense that customers are now paying to secure a spot in production queues for gas turbines, according to Siemens Energy AG.

“Demand is now so high that customers in Europe are willing to pay reservation fees,” Chief Executive Officer Christian Bruchtold reporters. The company is one of the world’s three dominant manufacturers of gas turbines, alongside GE Vernova Inc. and Mitsubishi Power Ltd.

A Siemens Energy gas turbine being loaded onto a truck in Hamburg for further delivery.

Photographer: Marilen Martin/Bloomberg

The practice first emerged in the US in recent years as technology companies rushed to secure generation capacity for ...