Nordex Increases Global Order Intake in 2024 to Record Level of more than 8,000 MW Wind Power Capacity - Share Price Continues to Rise
Hamburg, Germany - The wind turbine manufacturer Nordex significantly increased its order intake by around 13 percent in the 2024 financial year. The RENIXX Group received numerous orders for Nordex turbines, particularly in the final quarter. The share continues to enjoy a tailwind.
Nordex increases order intake by 13 percent in 2024
The Nordex Group has received orders for a total of 1,452 wind turbines with an output of 8,336 MW in 2024. This is an increase of 13 percent in terms of turbine output (2023: 7,358 MW with 1,270 wind turbines). The last quarter of 2024 alone accounted for 547 Nordex turbines with a total capacity of 3,253 MW (Q4 2023: 420 turbines, 2,466 MW), which corresponds to an increase in capacity of almost 32 percent compared to the same quarter of the previous year. The average selling price in euros per megawatt of capacity (ASP) improved to EUR 0.89 million/MW in the fourth quarter compared to EUR 0.84 million/MW in the same quarter of the previous year.
“I am very pleased that the order intake momentum, especially in the final weeks of the year, has demonstrated our ability to offer a highly competitive product portfolio to our customers. Numerous orders from our core markets in Europe, along with significant orders from North America, have contributed to a very solid order backlog at stable prices by the end of the year”, says José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group, welcoming the development of order intake.
Order intake from Turkey reaches 1,000 MW mark in 2024
Europe accounted for 79 percent of total order intake in 2024 with orders from 18 countries The largest individual European markets in 2024 were Germany, Turkey and Spain. The North America region, including Canada, accounted for 12percent of orders and the “Rest of the world” region, including South Africa, accounted for 8percent of order intake.
In Turkey alone, where wind power expansion is becoming increasingly important, Nordex has received orders for 2024 with a capacity of around 1,000 MW. The largest share of this is attributable to the fourth quarter, in which Nordex received orders from Turkey for 97 turbines with a capacity of 638 MW. Turkey is pursuing ambitious plans for the expansion of renewable energies. Turkey's aim is to quadruple the expansion of wind and solar energy to 120,000 MW by 2035. Among other things, Ankara wants to reduce approval times to two years.
Nordex in first place in the German market in the onshore wind energy segment
In 2024, Nordex wind turbines with a capacity of more than 1,000 MW were newly commissioned in the onshore wind energy segment in the German domestic market. This puts Nordex in first place in the manufacturer ranking ahead of Vestas and Enercon. In terms of the total number of new onshore and offshore wind turbines commissioned in Germany, Nordex as a pure onshore supplier is in second place behind Vestas 2024.
“Our market leadership once again demonstrates that our technology is ideally suited to the German market. Accordingly, we also expect to see a large number of new installations and a strong order intake in the German market in 2025,” says Nordex Vice President Region Central of the Nordex Group Karsten Brüggemann about the development in Germany.
Nordex share in forward gear
Following the previous week's loss of 4.6 percent to EUR 11.30, the Nordex share is continuing its upward trend today. The share price is currently trading at EUR 12.09, up 2.5 percent (12:30 p.m., January 15, 2025, Stuttgart Stock Exchange).
Source: IWR Online, 15 Jan 2025
