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Share Price Rises: Nordex Receives 200 MW Order from Finland

Hamburg, Germany - A Finnish wind farm developer has placed an orders with the Nordex Group for the supply of 35 N163/5.X turbines for four wind farms.

The orders for a total of 199.5 MW of wind power capacity each also include premium service for the turbines over a period of 30 years. Nordex did not disclose any further details on the customer or the project.

The wind farms will be constructed in the interior of the mid-west of Finland as well as in the west of the country, near to the coast in the Ostrobothnia region. The Nordex Group is delivering the N163/5.X wind turbines in the project-specific operating mode of 5.7 MW on tubular steel towers with hub heights of 148 and 159 metres.

The turbines for the bundle of wind farms are due to be supplied and installed in spring and summer 2022, with the final project being completed in late autumn of the same year.

Shares in wind turbine manufacturer Nordex climbed by 1.7 percent to EUR 18.27 in yesterday's trading (22. June 2021). The RENIXX stock is also benefiting from an upgrade by Societe Generale from "hold" to "buy". The bank still sees a target price of 27 euros.

Source: IWR Online, 23 Jun 2021