Bloomberg News

Nordex Jumps After Winning Order to Supply Turbines to Wind Park

July 17, 2012

Nordex AG, a German windmill maker, rose in Frankfurt trading after securing a five-turbine order for a wind park in the German Oberpfalz area.

The stock climbed as much as 5.5 percent to 3.14 euros, the biggest increase since July 3, and was up 3.5 percent at 5:07 p.m. in Frankfurt. The Hamburg-based company was the biggest climber on the German HDAX Index today.

“Nordex’s situation is inspiring investor confidence,” Holger Fechner, a Hamburg-based analyst at Norddeutsche Landesbank Giroz, said in a phone interview. The company has “a strong order intake” and recently confirmed it will reach profit goals, Fechner said. Investors also favor the company’s efforts to find a partner in China, he said.

Nordex plans to connect the five N117/2400 onshore turbines ordered by Neumarkt-based Jura Energie GmbH to the power grid next year, the company said today in a statement. In April, the manufacturer won a contract from VenSol Neue Energien GmbH and Honold GmbH Windkraftanlagen for the delivery of 10 turbines to Bavaria´s largest wind farm.

To contact the reporter on this story: Myriam Wecker in Frankfurt at +49-69-9204-1287 or mwecker2@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at +49-30-70010-6230 or bkammel@bloomberg.net


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