Nordex Receives Turbine Orders From France - Nordex Share With 26 Percent Annual Gain in 2024

Hamburg, Germany - Wind turbine manufacturer Nordex has announced two further orders for the delivery of wind turbines from France. Even though the country is largely associated with nuclear energy in the public eye, the expansion of onshore and offshore wind energy is also making steady progress in France.

France is an attractive sales market for wind turbine manufacturer Nordex. As recently as the beginning of July 2024, the Hamburg-based company received orders from France for nine projects with a total capacity of 132 MW. Two further orders have now followed, allowing Nordex shares to rise.

Nordex with two orders for 57 MW from France

The Nordex Group is to erect four N149/5.X turbines on 105 meter high tubular steel towers in a 22.8 MW wind farm in Centre-Val-de-Loire, France. For a 34.4 MW wind farm in Hauts de France, the Nordex Group is supplying and installing six N163/5.X turbines on tubular steel towers with a hub height of 118 meters. This is the second order from France for Nordex turbines with a rotor diameter of 163 meters - the largest wind turbine rotors in France to date. The size of the rotor is a decisive factor for the performance of a turbine, as the rotor converts the kinetic energy of the wind into rotational energy and large rotors capture more wind.

Nordex stock up 26 percent since the beginning of the year

After a strong early start, Nordex stock yersterday has gained around 1.7 percent to EUR 13.40 in the further course of the day. At its peak, the Nordex share traded at over EUR 13.90. Since the start of 2024, the Nordex share has so far gained 28 percent at the close on August 7, 2024, making it one of the best-performing shares in the RENIXX World, the global share index for renewable energies.

The current status of renewable energies in France

In France, renewable power plants with a capacity of just under 70,000 MW were connected to the grid as at 01.01.2024. Hydropower accounted for 25,462 MW of this, ahead of wind energy (23,273 MW), solar energy (18,816 MW) and bioenergy (2,206 MW).

In the current year 2024, offshore wind power capacity in France will continue to increase with the completion of further French offshore wind farms. On April 2, 2024, offshore wind turbines with more than 1,000 MW were already connected to the grid for the first time.

At the end of 2023, French President Emmanuel Macron also announced a further massive expansion of offshore wind energy. According to this, a further 10,000 MW of offshore wind power capacity is to be put out to tender in 2025, meaning that the installed offshore wind power capacity could rise to 18,000 MW by 2035.

Source: IWR Online, 08 Aug 2024