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Nordex to Receive Orders For More Than 6,000 MW Again in 2020

Hamburg, Germany - Wind turbine manufacturer Nordex has presented its order intake figures for Q4 2020 and for the full financial year. Driven by strong demand seen towards the end of the year, the wind turbine manufacturer almost matched the result of the previous year 2019 in the pandemic year 2020.

Delta4000 series increases share of all orders to 81 percent for the full year

In the fourth quarter of 2020, the Nordex Group received orders for a total of 491 wind turbines with a total capacity of 2,261 megawatts (MW). This is around 53 percent more than in the same quarter of the previous year (Q4 2019: 1,477 MW). In 2020 as a whole, Nordex has thus received firm orders for a total of 1,331 wind turbines with an output of 6,020 MW. Despite individual delays due to the Corona pandemic, Nordex has thus almost matched the high order intake of the previous year (2019: 6,207 MW). The share of efficient and high-margin Delta4000 wind turbines rose to 81 percent for the year as a whole (2019: 44 percent). The N163/5.X turbine variant, which was not launched until 2019, alone accounted for 877 MW of the new orders.

Regional differentiation

In the final quarter of 2020, 49 percent of orders were placed in Europe and 28 percent in the USA (North America region). The Latin America region had a share of 23 percent due to the 518 MW "Ventos de Santa Eugenia" project in Brazil. The Delta4000 series accounted for 81 percent of orders in the fourth quarter (Q4 2019: 56 percent).

In terms of the full year, the regional focus was on Europe, with orders for 16 European countries accounting for 59 percent of orders (by MW). The largest individual European markets were Germany, Norway, the UK, Finland and France. Representing total order intake in the North America region, the USA accounted for 20 percent of orders. Projects in Brazil, Chile and Colombia resulted in 21 percent of the order volume coming from Latin America.

"Significant major projects and a large number of orders, especially from our European core markets, recorded at the end of the year ensured that we were able to repeat the strong 2019 order performance in 2020. We are confident that this momentum will continue in the new year. The demand from our customers for efficient wind turbines to support climate-friendly electricity production continues unabated worldwide," says José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group, looking back on the past year and the prospects for further development.

Mega project from Brazil at the end of the year

One order highlight in the last quarter is the mega order from Statkraft Energias Renovéveis, the Brazilian subsidiary of Norwegian Statkraft, for the "Ventos de Santa Eugenia" wind farm in Brazil. Nordex will install the record wind farm with a total capacity of 518 MW with 91 N163/5.X wind turbines. The turbines will be supplied in an optimized operating mode of 5.7 MW. The commissioning of the highest-volume project to date for the Nordex Group with the turbine type since the market launch of the N163/5.X in 2019 is scheduled for early 2023.

With regard to projects in Brazil, Nordex has announced the the company has obtained the accreditation in Brazil for the N163/5.X wind turbine model from BNDES - National Bank for Economic and Social Development, which is the largest public development bank in the country. As a result, Nordex Group customers in Brazil will be able to purchase N163/5.X wind turbines using the advantageous credit line known as FINAME, as well as other similar financing lines that use the BNDES accreditation system as parameter for defining local content. To obtain the accreditation of the N163/5.X turbine model with BNDES, the Nordex Group developed, in partnership with its local suppliers, dozens of components that will be manufactured with certain levels of national material and Brazilian labour, which also are already accredited by BNDES.

Nordex also received another major order in December 2020 from the Swedish utility Jämtkraft and Persson, which placed an order for the wind farm "Hocksjön" with 131 MW. Here, too, the installation of turbines of the type N163/5.X of the Delta4000 series is planned. The order also includes a premium service of the turbines for 25 years. The wind farm will be erected and completed in 2022. "Hocksjön" is being built approximately 20 kilometers southwest of Ramsele in the province of Västernorrlands Län. The turbines will be delivered in 5.7 MW operating mode and with a hub height of 148 meters. Due to the severe winters with temperatures down to minus 33 degrees Celsius locally, the turbines are designed as cold-climate variant.

Nordex stock stops soaring

Nordex stock had been on a high since the beginning of November 2020 and has since climbed by over 100 percent from EUR 12.32 to EUR 27.16 (annual high, January 8, 2021). Since then, the share pric

Source: IWR Online, 19 Jan 2021