Siemens and FuelCell Energy, Inc. have announced a collaboration to accelerate the growth of fuel cell-based power generation. The agreement aligns electrical design and supply with fuel cell technologies to support the deployment of distributed energy systems. This partnership aims to deliver scalable, on-site power solutions for energy-intensive applications, helping customers advance their transition to lower-emission energy systems.

The collaboration was formalized in a memorandum of understanding. Under the agreement, Siemens will design and supply electrical balance of plant (EBOP) systems for fuel cell installations. The work supports the rapid deployment of commercial projects exceeding 100 MW.

Joint project development will span engineering, integration, and delivery of distributed energy systems. These systems will incorporate fuel cells, battery energy storage, microgrid controls, and medium-voltage electrical equipment. The companies will evaluate opportunities to scale solutions that improve timelines, reduce costs, and increase deployments.

Additional efforts include pilot projects and solution development initiatives to assess new applications. These applications include medium-voltage DC power delivery and modular electrical systems. The agreement defines a path to transition successful pilot outcomes into full-scale commercial deployments.

Siemens Limited has requested shareholders submit specific tax-related documents by Wednesday, July 29, 2026, to facilitate the correct deduction of Tax Deduction at Source (TDS) on the proposed dividend for the financial year ended March 31, 2026. The company's Board of Directors previously recommended a dividend of ₹18 per equity share of ₹2 each at its meeting held on May 26, 2026. This payout is subject to approval by shareholders at the ensuing Annual General Meeting.

The company is required to deduct tax at source under the Income-tax Act, 2025, at the time of dividend payment. To determine the appropriate withholding tax rate, Siemens Limited has outlined specific documentation requirements for different categories of members. The standard TDS rate for resident members with a valid Permanent Account Number (PAN) is 10%. However, if a member does not have a valid PAN or has failed to link their Aadhaar, the TDS rate increases to 20%.

Resident individuals may be exempt from TDS if the total dividend paid during Tax Year 2026-27 is up to ₹10,000 or if they submit Form 121 declaring eligibility. Resident non-individuals, such as insurance companies, mutual funds, and Alternative Investment Funds (AIFs), must submit self-declarations and self-attested copies of PAN cards and registration certificates to claim exemptions.

For non-resident members, including Foreign Institutional Investors and Foreign Portfolio Investors, the standard TDS rate is 20% plus applicable surcharge and cess. These members can opt for lower or nil withholding by providing a certificate under Section 395(1) of the Act. Additionally, non-resident members wishing to claim benefits under a Double Tax Avoidance Treaty must provide a self-attested copy of their PAN, a Tax Residency Certificate for the period April 2026-March 2027, and a declaration confirming no Permanent Establishment in India.

Shareholders holding shares in multiple folio or demat accounts with different statuses under a single PAN should note that the highest applicable tax rate will be considered for their entire holding. Siemens Limited has specified that dividend will be paid only in electronic form, urging members to update bank details with their depository participants or the registrar. Documents must be sent to the designated email address by the July 29, 2026 deadline; communications received after this date regarding tax determination will not be entertained.