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Nordex And Vestas Score With New Wind Farm Orders in Turkey And The USA

Münster, Germany - The two wind turbine manufacturers Nordex and Vestas have secured new major orders from Turkey and the USA respectively. The share prices of the two RENIXX companies are rising.

The Nordex Group has been awarded three wind farm projects in Turkey by Heitkamp Industrial Solutions GmbH, a German-based subsidiary of Rönesans Holding. Heitkamp will act as EPC contractor for these projects on behalf of Rönesans Enerji. Following a major order from Canada reported last week, Vestas has received an order from the USA for a capacity of almost 300 MW.

Rönesans Enerji orders 189 MW from Nordex Group

The three Turkey projects ordered by Heitkamp Industrial Solutions from Nordex with a total capacity of 189 MW are part of the YEKA RES-3 tender. They will all be equipped with N163/6.X turbines on 113 meter high steel towers. The orders also include premium service contracts for a period of ten years.

In Sivas, Nordex will install seven turbines for the 49 MW "Kayalar" wind farm, while eight turbines have been ordered for the 56 MW "Osmancik" project in Corum. The largest of the three orders involves the delivery of twelve turbines with a total capacity of 84 MW for the "Sagilusagi" wind farm in Malatya province in eastern Anatolia. The three projects are Rönesans Enerji's first investment in renewable energy after Total Energies acquired a 50 percent stake in Rönesans Enerji last month.

"We are delighted to again strengthen our position as the market leader in Türkiye. The N163/6.X turbine variant is particularly well-suited to achieving high yields in this low-wind region", says Nordex COO Sales and Marketing Patxi Landa, welcoming the orders.

The Turkish government's goal is to install new onshore and offshore wind turbines with a capacity of 18 GW by 2035, thus expanding the total capacity to 30 GW. Since 2017, Nordex Enerji A.S. Türkiye has been the market leader in the region with a total installed capacity of more than 3,583 MW and a further 917 MW still under construction.

Vestas secures 288 MW order for two projects in the U.S.

Nordex competitor Vestas reports the completion of a 288 MW order for two unnamed wind farms in the USA. The order for the two projects includes the delivery and installation of 30 V150-4.5 MW wind turbines and 34 V150-4.5 MW wind turbines. The order also includes a multi-year service contract to ensure optimum turbine performance. Delivery of the turbines is expected to begin in the second quarter of 2024, with commissioning scheduled for the third quarter of 2024. Vestas does not provide any information on the client of the projects.

Nordex and Vestas share prices gain

After Nordex shares took the lead in yesterday's trading with a plus of 5.8 percent to 11.32 euros in the RENIXX, the price continues to rise this morning. The share is currently trading at 11.535 euros, up 1.94 percent (12:00 p.m., Aug. 23, 2023, Stuttgart Stock Exchange).

The Vestas share price rose by 3.0 percent to 21.12 euros yesterday and is up 2.98 percent to 21.75 euros by midday (11:54 a.m., Aug. 23, 2023, Stuttgart Stock Exchange).

Source: IWR Online, 23 Aug 2023