(Updates with company comment in second paragraph.)
Oct. 19 (Bloomberg) -- Nordex SE, a German wind turbine maker, sold 250 million euros ($345 million) of equipment and services to Pakistan that would quintuple the company’s planned installations there.
The contracts would cover five projects of 20 turbines each with a total capacity of 250 megawatts, Ralf Peters, a Nordex spokesman, said today by phone. They’re subject to final approval from the Pakistan government, which would also give financing guarantees, he said.
“Our experience from past projects is that these guarantees are given without problems,” Peters said.
Nordex said it expects the Pakistan wind market to grow at a “rapid pace” as state and private investors plan new farms to expand the country’s energy-generation capacities. The Pakistani government estimates the wind power potential in Sindh Province in the southern part of the country to be about 11,000 megawatts, Nordex said.
“Pakistan is the most important Asian market outside China for Nordex today,” Lars Bondo Krogsgaard, Nordex’s chief sales officer, said in a statement.
Nordex secured orders for its first 50-megawatt project in Pakistan in 2010 and will start delivering turbines next month, it said.
Two projects are developed by the Fauji Foundation, with the remainder owned by Gul Ahmed Energy Ltd., Metro Power Company Ltd. and the Yunus Brothers Group, Nordex said. They are to be built in 2012 and 2013, the company said.
--Editors: Todd White, Alex Devine
To contact the reporter on this story: Stefan Nicola in Berlin at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org