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North American Wind Market: Nordex Secures Major Order From Canada - Stock Climbs

Hamburg, Germany - Wind turbine manufacturer Nordex has been awarded a contract for the delivery and commissioning of 49 N155/5.X turbines with a capacity of 5.7 MW each for the "Forty Mile" wind farm in Alberta, Canada. The share price is climbing.

The wind farm was developed by Renewable Energy Systems Canada, Inc. and, when completed in the first quarter of 2025, will be Acciona Energía's largest wind farm in North America with an installed capacity of almost 280 MW.

To ensure smooth operation of the turbines even in the challenging weather conditions in the region, where temperatures can drop below minus 30 degrees, all turbines will be supplied in the cold-climate variant.

Canada has adopted ambitious climate change targets and at the end of 2022 ranked 8th in the world in terms of installed wind power capacity in the international country rankings with a capacity of over 15,000 MW. The Canadian Renewable Energy Association expects more than 5,000 MW of wind power capacity to be added over the next few years.

Nordex stock is able to make significant gains in today's trading until midday. Currently, the share price is trading at EUR 11.08, up 3.6 percent (12:15 p.m., Aug. 22, 2023, Stuttgart Stock Exchange). Compared with the price at the turn of the year, this currently represents a drop of 16 percent.

Source: IWR Online, 22 Aug 2023