- Nordex SE recorded a 4% increase in wind turbine orders in the first nine months of 2024, reaching approximately 5.1 GW and securing contracts for 905 turbines across 23 countries.
- The average sales price (ASP) per megawatt of capacity rose to EUR 900,000, with a notable increase to EUR 920,000 in the third quarter, indicating strong demand for their technology.
- CEO Jose Luis Blanco expressed optimism for continued growth in the final quarter of 2024, driven by strong performances in key markets like Germany, South Africa, and Canada.
German wind turbine maker Nordex SE achieved a 4% rise in orders during the first nine months of 2024. The company reported an order intake of around 5.1 GW, up from 4.9 GW in the same period last year. Nordex secured contracts to deliver 905 wind turbines for projects across 23 countries, with a total capacity of 5,083 MW. This increase surpassed the 4,892 MW recorded in 2023.
Key growth markets included Germany, South Africa, Canada, and the Baltic States, especially Lithuania and Latvia. CEO Jose Luis Blanco expressed confidence about the future, stating, “We expect to accelerate this momentum going into the final quarter of 2024.”
Despite market challenges, Nordex maintained stable pricing. The average sales price (ASP) per megawatt of capacity stood at EUR 900,000 (USD 986,500) for the first nine months, compared to EUR 850,000/MW a year earlier. In the third quarter, the ASP rose to EUR 920,000/MW, up from EUR 790,000/MW in 2023.
In the third quarter alone, Nordex secured 1,726 MW of new orders. While this figure fell below the 2,251 MW recorded in the same quarter of 2023, it still reflected steady demand across critical regions.
Nordex’s year-on-year solid growth highlights its resilience in a competitive market. The company’s diversified global portfolio allowed it to navigate challenges in various markets while maintaining stable pricing and order volumes.
Germany, traditionally a substantial market for wind energy, continued to drive Nordex’s growth. Likewise, emerging markets like South Africa and the Baltic States have contributed to the company’s overall performance. Canada’s wind energy sector also boosted orders.
The company’s success stems from competitive pricing and its ability to secure projects in diverse regions. While the average sales price increased slightly from last year, the rise did not deter demand, indicating strong interest in Nordex’s wind turbine technology.
Looking ahead, Nordex expects further growth in the final quarter of 2024. CEO Jose Luis Blanco emphasised the company’s plans to capitalise on the current momentum, focusing on expanding its reach into new markets and strengthening its position in existing ones.
Despite the slight dip in third-quarter orders compared to 2023, the company remains optimistic about future growth. The overall stability in pricing and demand reflects a healthy market for wind energy, driven by global efforts to transition to renewable energy sources.
Nordex’s performance in 2024 positions it well for continued success as it looks to expand its presence in key markets and strengthen its global footprint.
(EUR 1.0 = USD 1.096)