Nordex To Focus On Onshore Wind To ‘Reduce Development Risk’

Posted by NAW Staff on April 02, 2012 No Comments
Categories : FYI

Wind turbine manufacturer Nordex reports that although it has been in talks about combining its offshore wind activities in a joint venture since summer 2011, the company will focus on its core business in wind turbines for onshore wind farms.

With this decision, Nordex says it wants to concentrate on developing new efficient products for the onshore business in order to reinforce its competitiveness. Many offshore installations have been postponed, and new business declined by roughly 60%, the company notes.

Nordex says this course reflects a conscious continuation of its efforts to reduce its development risks.

However, the company says it is continuing negotiations, with the aim of an intensive cooperation with a potential offshore wind partner.

Nordex recently released its final consolidated financial statements for 2011. The company's consolidated sales declined by 5% to 921 million euros due to project postponements in Europe and the relatively muted order backlog at the beginning of 2011.

In addition, the company's order intake in China dropped by 80% over the course of the year, causing a 44% drop in sales in Asia. On the other hand, U.S. sales doubled – although this was not sufficient to fully make up for the declines recorded in other regions, Nordex notes.

Leave a Comment