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Nordex Wind Turbine Orders Nearly Double in Second Quarter Amid Robust Global Demand

3 months ago
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Nordex Wind Turbine Orders Nearly Double in Second Quarter Amid Robust Global Demand

Key Insights

  • Nordex SE nearly doubled its wind turbine order intake in the second quarter of 2024, securing approximately 1.9 GW across 28 projects.

  • The surge in orders, primarily for its Delta4000 series turbines, was largely driven by strong demand from European markets, accounting for 85% of the new capacity.

  • Nordex's CEO, José Luis Blanco, attributed the strong performance to the growing global commitment to decarbonization and the competitiveness of wind energy.

  • This robust order book provides Nordex with clear production visibility and signals a positive trend for the broader wind energy sector amidst global energy transition efforts.

Nordex SE, one of the world's leading manufacturers of wind turbines, announced a near doubling of its order intake in the second quarter of 2024, signaling robust demand for wind energy solutions globally. The company secured new orders totaling approximately 1.9 gigawatts (GW) across 28 projects, a substantial increase from the 1.0 GW recorded in the same period last year. This surge in orders, primarily for its Delta4000 series turbines, underscores the accelerating pace of the global energy transition and Nordex's strong market position.

The majority of the new orders, roughly 85%, originated from European markets, with Germany, Spain, and Poland leading the uptake, reflecting strong policy support and ambitious renewable energy targets within the European Union. Latin America also contributed significantly, accounting for approximately 10% of the new capacity, driven by ongoing infrastructure development and green energy initiatives in countries like Brazil and Chile. The average sales price per megawatt (MW) remained stable, indicating healthy market conditions despite inflationary pressures.

“This exceptional second-quarter performance is a clear testament to the growing global commitment to decarbonization and the increasing competitiveness of wind energy,” stated José Luis Blanco, CEO of Nordex SE. “Our Delta4000 platform continues to be a preferred choice for customers seeking high-performance and reliable turbine technology. We are particularly encouraged by the strong demand from our core European markets, which are pivotal to achieving the continent’s ambitious climate goals.”

The strong order book provides Nordex with enhanced visibility for its production pipeline through 2025 and beyond, supporting its long-term growth strategy. The company's manufacturing facilities are expected to operate at increased capacity, potentially leading to job creation and economic benefits in regions where its turbines are produced and deployed. This performance contrasts with some earlier market uncertainties concerning supply chain disruptions and rising raw material costs, suggesting a stabilization and renewed confidence in the sector.

Industry analysts view Nordex's performance as indicative of a broader positive trend in the wind energy sector, driven by supportive regulatory frameworks, declining levelized cost of electricity (LCOE) for wind power, and increasing corporate demand for renewable energy. The global push for energy independence, exacerbated by geopolitical events, further accelerates investments in domestic renewable energy sources. This sustained demand is crucial for achieving global climate targets and transitioning away from fossil fuels, positioning wind energy as a cornerstone of future energy systems.