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Spain's Renfe picks Siemens for $1.36 billion high-speed train order - Finance news and analysis from Global Banking & Finance Review
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Spain's Renfe picks Siemens for $1.36 billion high-speed train order

Published by Global Banking & Finance Review

Posted on October 27, 2026

1 min read

· Last updated: October 27, 2026

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Renfe Picks Siemens for $1.36 Billion High-Speed Train Contract in Spain

Siemens Secures Major High-Speed Rail Deal with Renfe

MUNICH, Oct 27 (Reuters) - Spanish state-owned railway operator Renfe said on Tuesday it selected Siemens as the preferred supplier of 30 high-speed trains.

Contract Value and Options

• Renfe put the value of the contract including maintenance at €1.22 billion ($1.36 billion)

• The rail company has the option to order 10 more trains

Delivery Timeline

• The first five "Velaro Novo" trains, which are based on the ICE 3 train generation, are due to be delivered within three years and four months, with the last batch due in five years and two months.

Reporting Credits

(Reporting by Alexander Huebner
Writing by Ludwig Burger
Editing by Linda Pasquini)

Key Takeaways

  • Renfe awarded Siemens the contract for 30 Velaro Novo trains, valued at €1.218 billion including maintenance, with a 10‑unit extension option (europapress.es).
  • The Velaro Novo, an evolution of Renfe’s S‑103 trains, reaches up to 350 km/h, offers 520 seats, improved comfort, energy efficiency, and enhanced digital features (europapress.es).
  • Delivery terms require the first five units within 40 months and full delivery of 30 units by 62 months; fulfilling tight deadlines was a key awarding criterion (europapress.es).

References

Frequently Asked Questions

What company did Renfe select for its new high-speed trains?
Renfe selected Siemens as the preferred supplier for 30 new high-speed trains.
How much is the Renfe and Siemens train contract worth?
The contract, including maintenance, is valued at €1.22 billion or $1.36 billion.
How many high-speed trains can Renfe order under this contract?
Renfe will order 30 trains now, with the option to order 10 more in the future.
When are the first Siemens high-speed trains expected to be delivered to Renfe?
The first five Velaro Novo trains are expected to be delivered within three years and four months.
What model of trains will Siemens supply to Renfe?
Siemens will supply Velaro Novo high-speed trains, based on the ICE 3 generation.

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