Nordex To Double US Revenues in 2011

German wind power manufacturer Nordex expects to double its U.S. revenues by selling at least 100 wind-turbine generators (WTG) this year, a company spokesman has revealed. One hundred 2.5-MW WTGs equals 250 MW of wind-power capacity.

His comments came as Nordex USA has been expanding its operations in the U.S. The spokesman would not provide an exact revenue figure, however.

Last week, Nordex struck a joint venture with Beebe Community Wind Farm for the construction of a 300 MW wind farm in Gratiot County, Michigan, on which, the spokesman said, construction will begin next year.

As part of the deal, Nordex will provide 125 of its new N117-2.4 MW turbines designed specifically for low-wind sites and derived from the Nordex 2.5 MW class.

The N117 turbine features longer blades, which are expected to produce an increased yield of 15% in comparison to the previous turbines manufactured by the company.

Nordex will make the turbines at its plant in Jonesboro, Arkansas.  The facility was completed last year.

The wind farm will be produced in phases, with construction on the first phase slated to begin in 2012 while the next phases are expected to begin in 2013 and 2014.

Nordex recently sold turbines for projects in Idaho, Iowa, Pennsylvania and Colorado, the spokesman said.

Overall, the firm hopes to have 5% of the U.S. wind turbine market in the medium term, up from 1% now, depending on this year’s market performance, he added.

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Ivan Castano is a freelance journalist based in Miami. His work has appeared in Thomson Reuters’ International Finance Review (IFR), Dow Jones’ Financial News, Euromoney, Trade & Forfaiting Review and a range of trade publications covering the capital markets, private equity, loan, credit and restructuring markets. He is fully bilingual in Spanish and English having been raised in Ecuador, Colombia and Spain. Ivan has worked and lived in Los Angeles, New York, Madrid and London.

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