Nordex Share Gains: Nordex Secures Orders For More Than 600 MW From Turkey in Q4 2024

Hamburg, Germany - Nordex continues to report new orders. According to the RENIXX Group, the company has received orders for a total of 97 turbines from Turkey in Q4 2024, most of which were placed at the end of December. In today's trading, the Nordex share price rose sharply until midday.

The orders with a total capacity of 638 MW also include service contracts for the maintenance of the turbines over a period of several years. With these orders, Nordex achieved a total order intake of 1,000 MW (1 GW) in Turkey in 2024. With a market share of over 30 percent, Nordex says it has been the market leader in Turkey since 2017.

Turkey aims for climate neutrality by 2053

According to the Turkish government's plans, the country is to achieve climate neutrality by 2053. Various guidelines and support programs for renewable energies and hydrogen have therefore been introduced in recent years.

The current goal in the wind and solar energy sector is to quadruple expansion to an output of 120,000 MW by 2035. In September 2024, the installed wind and solar capacity in Turkey was still around 30,000 MW (30 GW). Among other things, Ankara wants to shorten the approval times for the expansion to two years. The background to this is the sharp rise in electricity consumption in the past and the expected increase in electricity consumption in the coming years, as fossil fuels are to be replaced by electricity.

The ramp-up of the hydrogen sector also plays an important role in Turkey's energy transition. In 2023, the national hydrogen strategy and a roadmap were published, defining targets and policy measures for green hydrogen. The short-term goal is to build up an electrolysis capacity of 2,000 MW (2 GW) by 2030. Expansion to 5,000 MW (5 GW) is then planned by 2035 and even to 70,000 MW (70 GW) by 2053.

Nordex share climbs

Following the setbacks for green stocks as a result of negative comments on the further expansion of wind energy in the USA by US President-elect Donald Trump, Nordex shares have been able to gain ground so far this week. Yesterday, the RENIXX Group's shares already recorded an increase of 2.9 percent to EUR 11.63 (closing price, January 13, 2025, Stuttgart Stock Exchange). By midday today, the share price had risen by a further 3.96% to EUR 12.09 (12:00 noon, 14/01/2025, Stuttgart Stock Exchange).

Source: IWR Online, 14 Jan 2025