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Nordex Continuing to Expand in Northern Europe

published: 2012-07-02 15:52

Nordex has signed a framework contract with Finnish Wealth Management company Taaleritehdas for the delivery and installation of up to 111 2.5 MW multi-megawatt turbines. The turbines have been earmarked for various wind farms which are to be installed in Central, Southern and Northern Finland from 2013 onwards. With a volume of some 260 MW, the project substantially exceeds the wind power capacity so far connected to the grid in Finland. Thus, after being present for just under one year in the new market of Finland, Nordex has already been able to gain one of the largest master contracts in its history.

Much of the project is to be financed by equity which Taaleritehdas has raised via a retail investment fund. The company has raised equity from over 200 private investors to the fund investing in wind energy.

The key factor in Nordex’s favour was the successful work which it had demonstrated on numerous demanding projects in Scandinavia in the past together with its range of low wind speed turbines. Thus, Nordex has in the N117 one of the most efficient turbines for inland locations, which it offers on towers with a height of up to 141 metres. “What is more, our anti-icing system is meeting with great interest in Scandinavia as it can boost energy yields by up to ten percent in these low-temperature regions. This contract marks an important reference for our sustained growth in the high-potential Finnish market,” says Nordex Management Board member Lars Bondo Krogsgaard.

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