Bloomberg News

Nordex Sees U.S. Wind Market Growing at Less Than Half 2012 Pace

February 04, 2013

Nordex SE (NDX1), a German wind-turbine maker that has a plant in Arkansas, said the U.S. wind market will grow at less than half of last year’s pace in 2013 even after the extension of a subsidy for developers.

The U.S. will add 3 gigawatts to 5 gigawatts of wind capacity this year after last year’s 13 gigawatts, Chief Executive Officer Juergen Zeschky told reporters today at a wind energy conference in Vienna. The Hamburg-based manufacturer plans to restructure its U.S. business “to the right size in the market,” he said, without elaborating.

“In the U.S. itself, we are set up in a way that if we win a reasonable number of projects, doesn’t have to be huge, we can support our organization,” Zeschky said.

Last year developers rushed to add projects on concern that a production tax credit wouldn’t be extended, according to the American Wind Energy Association.

Nordex, which last month said it won a 67-megawatt order in Uruguay, expects wind markets in Asia and Europe to remain stable in 2013 with “significant” growth in northern Europe and a decline in southern Europe, the CEO said.

The company sees no opportunity to do business in China, the biggest wind market last year, without a partner, and will focus in Asia on growing markets including Pakistan, the Philippines and Thailand, Zeschky said. Nordex in December said it would cut 130 positions and stop making rotor blades at its plant in China.

To contact the reporters on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net; Gelu Sulugiuc in Copenhagen at gsulugiuc@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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