Nordex Secures First Turbine Contract of Finnish Wind Farm Deal

Nordex SE (NDX1) won a contract to deliver and install nine turbines for a wind farm in southwest Finland, the first deal under an agreement struck with Helsinki-based fund manager Taaleritehdas Oy to finance projects.

Construction on the project, with 21.6-megawatt capacity, will begin in the spring of 2013, Nordex said in a statement.

“This is a further key order for our N117 turbine,” said Lars Krogsgaard, chief sales officer of Hamburg-based Nordex.

Under the June 29 agreement with Taaleritehdas, as many as 111 turbines will be shipped and installed by Nordex in projects financed by the fund manager across Finland, with total capacity seen at 260 megawatts. That would be more than the installed wind-power capacity of 197 megawatts in Finland as of the end of 2011, according to the Finnish Wind Power Association.

Finland plans to produce 38 percent of its power from renewable energy by 2020, up from 32 percent now.

To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.net

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

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