Nordex’s Turkish Two-Step: Cold-Climate Turbine Order and Blade Factory Signal Long-Term Bet

Nordex secures 110-MW turbine order and opens blade factory in Turkey, reinforcing its dominant market position amid 15.5% wind market growth.

Nordex is deepening its roots in Turkey with a pair of operational milestones that underscore its commitment to one of Europe’s fastest-growing onshore wind markets. The German turbine maker has booked a 110-megawatt order from long-time partner Eksim Enerji and, within days, launched production at a sprawling rotor blade plant near Izmir. The stock, however, took a measured view, edging up just 1.12 percent on the day to €41.60 after an initial dip – a far cry from its 52-week high of €49.42.

The order covers 16 turbines of the N175/6.X type for the Bal?kesir-3 wind farm in the S?nd?rg? district, sited at 800 to 950 metres above sea level. Nordex is supplying a cold-climate variant designed to handle extreme low temperatures, with a hub height of 119 metres. The contract includes a ten-year premium service agreement, and the turbines meet the local-content requirements of the YEKA-2025 specification. Eksim’s total Nordex-equipped portfolio now reaches 832.8 megawatts, a relationship that dates back to 2010.

Meanwhile, production has started at the company’s new factory in Menemen, near Izmir, a 90,000-square-metre facility capable of turning out up to 1,200 rotor blades per year when running at full capacity on four shifts. Around 1,200 employees are on site. The plant’s initial output will feed the YEKA-4 and YEKA-5 tender projects, key local-procurement programmes that give Nordex a structural edge in a market where it already holds a 34 percent share. The factory also positions the company to supply European parks down the line, adding a geographical hedge.

Turkey’s wind market expanded by 15.5 percent in 2025, and Nordex’s dominant share – steady since 2017 – provides a stable revenue stream. Globally, the group has installed over 64 gigawatts of capacity across more than 40 markets since its founding. The new Turkish orders bolster a pipeline that underpins management’s 2026 guidance: revenue of €8.2 billion to €9.0 billion and an EBITDA margin of 8 to 11 percent.

On the stock market, the shares remain 13 percent below their 52-week peak, and the relative strength index of 37.6 suggests mild oversold conditions. To break out of the near-term downtrend, the stock would need to reclaim the 20-day moving average at €46. The next quarterly results will test whether Nordex can convert its Turkish momentum into expanding margins – moves that have already laid the operational foundation.