Nordex Shares Surge on Record German Order Intake in March

Nordex books over 575 MW in German wind orders in March, driven by repowering and hybrid towers. The company's stock has gained ~174% YTD, with a full service backlog ensuring revenue visibility into 2027.

The Nordex Group has secured a substantial volume of new business in its domestic market, highlighting robust demand for its wind turbine technology. In March alone, the company booked cumulative orders exceeding 575 megawatts (MW) within Germany, a clear signal of the ongoing strength in the onshore wind sector.

Market Confidence and Stock Performance

This operational momentum is being mirrored in the company's equity valuation. Nordex shares closed at €44.88 on Friday, trading just below a 52-week high reached recently. Year-to-date, the stock has delivered a remarkable gain of approximately 174 percent for investors, underscoring strong market confidence in the firm's trajectory.

Key Drivers: Technological Advancement and Service Revenue

A significant portion of the new order volume is attributed to repowering initiatives, where older turbines are replaced with newer, more efficient models. A flagship project on the Baltic Sea island of Fehmarn involves substituting legacy equipment with 24 modern N163/5.X turbines. The objective is straightforward: generate substantially more power with fewer installations.

The German market is also displaying a distinct preference for advanced tower technology. The majority of new orders are for turbines mounted on massive hybrid towers, capable of reaching hub heights of up to 179 meters. This design allows for high energy yields even at inland sites with lower wind resources.

Furthermore, Nordex is securing long-term, predictable service revenue. For nearly all projects, the company has established premium full-service contracts spanning 20 years, providing a stable income stream alongside equipment sales.

Major Projects Comprising the 575.4 MW Total

The impressive order book, with installations scheduled predominantly for 2027, is composed of several large-scale projects:

• wpd: 279.2 MW across nine separate German sites
• Fehmarn Repowering: 136.8 MW
• Qualitas Energy: 56.0 MW for the Wippershainer Höhe wind farm
• Prowind: 54.4 MW for two projects in Lower Saxony and North Rhine-Westphalia
• Bürgerwindpark Heek-Strönfeld: 49.0 MW

This packed delivery schedule for 2027 provides Nordex with exceptional visibility. The full order book solidifies the company's standing in Germany's renewable energy sector and establishes a reliable foundation for its medium-term revenue growth.