News / Green Investment
Thursday, January 24, 2008
Nordex - Wind Turbines
Image: courtesy of Nordex (

Wind Powered Growth

In Green Investment, one of the largest growth sectors is wind power and Nordex AG, headquartered in Norderstedt, Germany, is a significant designer and manufacturer of wind turbines for the world market.

Nordex was founded in 1985 in Give, Denmark and in 2000 they moved their headquarters to Germany and became Nordex A.G. and launched their IPO in 2001. Today, their primary production facilities are in Rostock, Germany, and they also have manufacturing joint ventures in China. The company has a total global work force of over 1500 people. In 2006, Nordex was ranked in 7th place for worldwide wind turbine sales, holding a 3.2% global share (BTM Consult ApS) of the wind turbine market. They are a 100% wind turbine company so they track the overall growth in this sector, currently estimated to be at least 20-25% per annum for the next ten years.

Nordex released very good 2007 first 9 months (end Q307) results on November 13, 2007. Nordex Group revenues for the first 9 months of 2007 increased by 32.1% to EUR 493.1 million from 373.4 million for the same period in 2006, which was above the overall wind power industry growth rate average. Earnings before interest and taxes for the first 9 months rose by 92.6% to EUR 23.3 million from 12.1 million in the previous 2006 period.

There have been some recent large wins for Nordex that will help it to grow. On November 6, 2007, they announced a 150 MW order from BP Alternative Energy North America for 60 N90/2500 kW wind turbines for first delivery 2nd quarter 2009. Then on November 15, 2007 they announced an order from Green Tech Energy Systems, a Danish independent energy utility, for 185 MW and a total 89 turbines (21 N90/2500, 43 N90/2300 and 25 S77/1500) for installation in three wind farms in Italy (Sicily and Sardinia). On January 8, 2007 Nordex won a 50 MW tender (plus 100 MW option to purchase) from Beijing Energy for the supply of 33 S70/1500 turbines with an option for 66 more.

There are eight models of Nordex wind turbines available in their product catalogue and these are the N60 (1.3 MW), S70 (1.5 MW), S77 (1.5 MW), N80 (2.5MW - for strong winds, N90 (2.3 MW - variable speed), N90 (2.5 MW - high speed and low speed versions), the N90 Offshore (2.5MW), and the N100 (2.5 MW - large rotor & low wind speed conditions).

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