Share Rises: Nordex Receives Major Orders From Canada And Ireland

Hamburg, Germany - Wind turbine manufacturer Nordex is reporting further large order receipts.

The company has received an order for 200 MW from Canada at the end of 2022. The Nordex Group will supply 36 N155/5.X turbines for a wind farm to be commissioned in 2024 in the province of Saskatchewan. The turbines will be supplied in the cold-climate variant so that the turbines can also be operated at low temperatures.

In addition, SSE Renewables, a leading developer and operator of renewable energies in the United Kingdom and Ireland, has placed an order with Nordex for the delivery of 29 N117/3600 turbines with a capacity of over 100 MW for the "Yellow River" wind farm in Ireland. The delivery and installation work near the town of Rhode in County Offaly will begin at the end of 2023.

Goldman Sachs is optimistic about the wind industry. The goal of climate neutrality leads to considerable sales growth in the renewable energy sector. Although the rating for Nordex remains "Neutral", the price target is raised from 13.10 to 14.70 euros.

In the first three days of trading this week, shares in the RENIXX Group have risen by 11.6 percent to a price of EUR 14.89 (closing price, 11.01.2023, Stuttgart Stock Exchange).

Source: IWR Online, 12 Jan 2023