Nordex Launches N169/5.X Turbine Variant For The USA - Share Price Continues to Rise

Hamburg, Germany - The expansion of activities in North America is an important element in Nordex's strategy. Against this backdrop, the wind turbine manufacturer is expanding its product portfolio in the 5 MW segment and is launching the N169/5.X, a turbine variant of the proven Delta4000 platform which is specially tailored to the requirements of the US market.

The new turbine has a rotor diameter of 169 meters and an installed rated output of up to 5.5 MW. As with other Nordex Group turbines, the turbine will be available with a range of US-optimized towers. The N169/5.X is particularly suitable for wind regions in the USA without intense turbulence and with low to medium wind speeds and expands the existing portfolio. With the N163 and N175 turbine variants, Nordex already has further turbine types in several configurations in its portfolio for locations with limited expansion areas as well as for individual locations with limited grid capacities.

“The N169/5.X is one of the largest and most efficient turbines for the US market, developed to support our growth targets in this region. Once again, we have followed our proven approach of an evolutionary product strategy by using proven components of our 5 MW class to develop a turbine variant that significantly increases yield, especially in projects with limited grid capacity, through an optimized capacity factor", explains Nordex CEO José Luis Blanco.

“The N169/5.X will allow us to address additional customer needs in grid constrained sites,” says Manav Sharma, CEO Division North America of the Nordex Group, who believes that the new US turbine puts the wind turbine manufacturer in a good position to benefit from the expected growth in the US market.

The Nordex local supply chain already in place ensures that local content requirements are met to benefit from the Inflation Reduction Act (IRA). Main components such as nacelles, drive trains and hubs are to be manufactured in the United States. The Nordex Group will manufacture the N169/5.X as well as the N163 turbine for the US market in its facility in West Branch, Iowa. Production of the N169/5.X is scheduled to start in 2026.

After falling by 1.5 percent to EUR 13.30 in the past trading week, Nordex's share price rose by 2.4 percent to EUR 13.62 yesterday (Stuttgart Stock Exchange, closing price, July 22, 2024). Compared to the price at the turn of the year, the stock is thus the best performer in the RENIXX ranking with an increase of 30.3 percent.

Source: IWR Online, 23 Jul 2024