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Vestas, Siemens Gamesa and Nordex Successful with Contract Series

Münster, Germany - In recent days, wind turbine manufacturers Vestas, Siemens Gamesa and Nordex have reported numerous new orders for the construction of wind farms. In total, the orders are for a capacity of more than 2,000 megawatts (MW). With the latest orders, Vestas' order intake in 2020 has already exceeded the 10,000 MW mark. The share prices of the companies are climbing.

Vestas scores in Europe, Russia, the USA and Asia

At the end of the third quarter, Vestas is still reporting a veritable flood of orders. In the current week alone, the Danish wind energy giant has announced 14 orders from North and South America, Russia, Europe, Egypt and Asia with a total output of almost 1,500 MW. This brings Vestas' total incoming orders for 2020 to almost 11,000 MW. In addition to the installation of the systems and commissioning, the orders generally also include long-term service contracts.

With an output of around 490 MW from four orders, the regional focus is on the USA, including two major projects with a capacity of almost 190 MW. The first project with 185 MW comprises the delivery and commissioning of V150 4.2 MW turbines in the output-optimized 4.3 MW mode. As part of the second major order from the USA for 184 MW, Vestas will supply V120-2.2 MW and V110-2.2 MW wind turbines. Vestas has received the two other US orders for a wind farm with 95 MW and the supply of turbine components with a capacity of 22 MW respectively.

The global wind and solar development company Mainstream Renewable Power has awarded Vestas a major contract for the 109 MW Ckani wind farm in Chile. Vestas will supply 26 V150-4.2 MW wind turbines. Vestas has also received a further major order for a turnkey project of 252 MW from Egypt (Gulf of Suez 1 wind project). Another 252 MW order for a total of five wind energy projects in the Volgograd and Astracha regions comes from Russia. The client is WEDF (Wind Energy Development Fund), a joint investment fund founded equally by PJSC Fortum and JSC Rusnano

The projects from Europe with a total capacity of 227 MW include an 80 MW order from the Netherlands (Kroningswind wind farm). The other orders from Europe come from Germany (PNE Windprojekt Boitzenhagen in Lower Saxony, 25 MW) and Denmark (GreenLab project, 64 MW). In addition, Vestas is supplying the turbines for a Polish project (40 MW) and an Italian wind farm (28 MW). At the end of the quarter, Vestas also received an order from China for a project with 99 MW and from Vietnam for 52 MW for two wind projects.

Siemens Gamesa wins contracts for wind farms in Sweden and Pakistan

Siemens Gamesa has signed a contract with wind energy developer Eolus Vind AB for its 5.X platform in Sweden for 7 SG 5.8-170 and 4 SG 5.8-155 turbines. The turbines will be installed in southern Sweden in the three projects Rosenskog (17.8 MW), Dållebo (26.4 MW) and Boarp (24.2 MW). For the quarter just ended, Siemens Gamesa also reported the conclusion of contracts for wind farms with a total capacity of 260 MW from Pakistan.

Nordex securing orders for 250 MW in Europe in Q3

The Hamburg-based Nordex Group has received further orders for a total of 227 MW from Europe in the current quarter (as of September 23, 2020). The main sales market was Germany with 86 MW, followed by the Netherlands with just under 70 MW, France with 42 MW and Belgium with 29 MW. At the end of September, Nordex received another 24 MW order from its regular customer Sancak Enerji in Turkey. Nordex will be supplying five N133/4800 high-wind turbines for the "Baglar-3" wind farm in the province of Konya around 200 kilometers south of Ankara.

Share prices rising sharply

The share prices of the three RENIXX companies have risen significantly this week so far. The strongest increase was achieved by the Siemens Gamesa share, which gained 16.1 percent to 24.48 Euros until close of trading on Thursday evening (01.10.2020). This is followed by Vestas with EUR 140.7 and a gain of 10.4 percent, ahead of Nordex with a gain of 10.2 percent to EUR 11.45 (Stuttgart Stock Exchange).

Source: IWR Online, 02 Oct 2020