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Nordex and Vestas Secure New European Orders

Hamburg / Aarhus, Denmark - Nordex and Vestas have reported orders from various European countries over the past 14 days. Nordex is successful in Italy. Vestas has received orders from Italy, Poland, Ireland and Scotland. Nordex stock is on the rise.

Nordex to supply seven N133/4800 WTGs to Italy

The Nordex Group has received an order for seven N133 turbines from Italy from its regular customer Enel Green Power, the renewable energy subsidiary of the Enel Group. The turbines will be installed at a 30 MW wind farm in the Basilicata region in the south of the country. The contract also includes a service contract of the turbines for an initial two-year contract. In 2020, the Nordex Group installed turbines with 41 MW in three projects in Italy and, in addition to this latest order, is erecting a further 65 MW in a further three projects in the current and coming year.

Vestas reports European orders for 170 MW in the first two weeks of February

Nordex competitor Vestas also received an order from Italy in February as part of the latest influx of orders from European countries. Vestas will be supplying the turbines for the 29 MW Mazara Messer Andrea wind farm, which is being built in Mazara del Vallo in Sicily, for Italian wind power operator E2i Energie Speciali Srl. The order includes the supply and installation of eight V136-3.45 MW WTGs, which will be delivered in 3.6 MW Power Optimised Mode. In addition, Vestas will provide O&M services for the wind farm for at least 10 years. With this project, Vestas has secured more than 1,300 MW of contracts from auctions in Italy, where the company has installed more than 4,300 MW since 1991, giving it a market share of more than 40 percent.

In addition, Vestas has reported orders from Poland, Ireland and Scotland. In Poland, Vestas will supply and install 15 V110-2.0 MW wind turbines for a 30 MW project for an unnamed customer. The order also includes a 10-year service and maintenance contract.

From Ireland comes an order for the 75 MW Cloncreen project. The client is the Irish company Bord na Móna. The order includes the delivery, installation and commissioning of 21 wind turbines of the type V136-3.45 MW in 3.6 MW mode in combination with a 20-year service contract. The project is located in County Offaly in the Irish Midlands and is from the last RESS 1 auction round. According to Vestad, once commissioned, Cloncreen will be the companies' largest wind farm in Ireland to date.

From ERG, one of the leading wind energy operators in the European market, Vestas has received a 36 MW order for the second phase of the Sandy Knowe wind project in Scotland. The project will consist of 10 V112-3.45 MW wind turbines in 3.6 MW operating mode. In November 2020, Vestas received an order from the same customer for the first phase of the 50 MW project. The twin projects will be built in the Dumfries & Galloway Council area in south-west Scotland. The contract covers the delivery, installation and commissioning of the wind turbines as well as a long-term service agreement.

Nordex stock up so far in 2021, Vestas in the reds

While the price of Nordex stock rose by 2.5 percent to EUR 25.24 in the past trading week, Vestas stock lost 4.1 percent to EUR 174.50. As a result, Nordex stock has gained 13.6 percent since the beginning of the year, while Vestas stock is down 11.2 percent. In today's trading (15.02.2021, Stuttgart Stock Exchange), the shares of the two RENIXX companies have gained slightly so far. Nordex is trading at EUR 25.52, while Vestas stock has risen to EUR 176.60.

Source: IWR Online, 15 Feb 2021