Nordex Share Gains: Nordex Group in Ireland Receives First Order From Ørsted

Hamburg, Germany - The renewable energy company Ørsted has commissioned the Nordex Group to supply and install turbines in Ireland for the first time. Nordex is to supply nine N133/4800 turbines for the 43 MW Farranrory wind farm.

The Nordex Group will be installing the turbines for Farranrory on tubular steel towers from summer 2025. Once completed and commissioned in 2026, Farranrory will supply 25,000 Irish households with clean electricity.

As part of the European Wind Charter, Ireland has signed a voluntary “Wind Commitment”, committing to meet wind energy targets for the period 2024-2026 and pledging indicative targets for 2030 and beyond.

The non-binding targets include the commitment to achieve an installed onshore wind power capacity of 9 GW (9,000 MW) by 2030. An installed onshore wind power capacity of 4,812 MW is expected by the end of 2024.

Ireland's overall target for offshore wind by 2040 (including the Atlantic Basin) remains 20 GW (20,000 MW).

The Nordex share initially rose to EUR 14.50 in yesterday's trading, but then lost some ground again and ended the day up 0.8 percent at EUR 14.28. The Ørsted share gained a slight 0.5 percent to EUR 57.06 yesterday.

Source: IWR Online, 13 Sep 2024