Nordex grow wind turbine business

15 Feb 2002 – Hamburg-based wind turbine manufacturer Nordex today reported a sharp increase in sales within the German market with revenues for the first quarter up by 39 per cent.

The Nordex Group said that it had installed 90 per cent more turbines in 2001 over the previous years – 277 MW compared to 147 MW. The company specializes in larger wind turbines in the megawatt range and now had widened its share of the growing German market to 10.4 per cent.

The first quarter of 2002 has seen a 15 per cent rise in new orders and now has an order book worth about €171m.

Foreign business accounted for over 50 per cent of order receipts, with two large orders from Norway and the Netherlands making a particular contribution. In a contract worth €40m, industrial group Norsk Hydro and utility Nuon ordered 16 of the flagship N80/2,500 kW wind turbines for a wind park located at the North Cape. In addition, BP and ChevronTexaco ordered nine N80 turbines worth approx. €22m for a facility being developed in one of its Dutch refineries.

Earnings for Nordex were €2.7m, up roughly 42 per cent over the previous year (€1.9m)

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