(Bloomberg) -- Siemens Energy AG shares fell following reports that the company is in talks with the German government to secure billions of euros in state guarantees as it struggles to shore up its troubled wind-turbine unit. 

The company doesn’t have acute liquidity problems, but Siemens AG, which owns roughly a quarter of Siemens Energy, doesn’t want to provide further backstops, according to German magazine Spiegel, which reported on the government discussions earlier. 

Siemens Energy shares declined more than 8% in early trading, the biggest intraday drop since June. The stock is down more than 42% this year. 

Read more: Siemens Energy Weighs New Turbine in Bid to End Troubles

Munich-based Siemens Energy is trying to get on top of what has turned into one of Germany’s biggest industrial debacles. In August, the company said mounting issues with malfunctioning turbines and unprofitable contracts are set to push the company to a €4.5 billion ($4.8 billion) net loss this year. 

The shock prediction dealt a major setback to turnaround efforts for its Spanish onshore wind unit that’s been loss-making for years.

The possible federal guarantees under discussion are meant to secure new business over the next two years, Spiegel reported. 

A Siemens Energy spokesperson declined immediate comment. The Economy Ministry wasn’t immediately available for comment.

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