Nordex SE stock gains momentum with 70 MW Serbia order boosting onshore wind prospects

Nordex SE (ISIN: DE000A0D6554) secures a 70 MW wind turbine order for Serbia's Jasikovo project, featuring its advanced N175/6.X models with Anti-Icing System. This deal strengthens the MDAX-listed wind energy firm's foothold in South-Eastern Europe amid rising renewable demand.

Nordex SE has secured a significant 70 MW order for the Jasikovo wind farm in Serbia, supplying 11 N175/6.X turbines complete with a 30-year service contract. Announced today, the project highlights the company's competitive edge in high-performance onshore wind solutions for emerging markets. For DACH investors, this order signals robust order intake in a sector facing supply chain pressures, reinforcing Nordex's position as a key player in Europe's energy transition.

As of: 23.03.2026

By Dr. Elena Voss, Senior Wind Energy Analyst – Nordex SE's latest Serbia win underscores its tech leadership in onshore turbines, vital for DACH portfolios eyeing green growth amid EU subsidy shifts.

Breaking Down the Jasikovo Order

The Nordex Group will deliver 11 units of its N175/6.X turbine platform to the Jasikovo wind farm in Serbia. Each turbine boasts a 6.75 MW capacity, optimized for sites with limited space and grid constraints. Installation starts in April 2027, with first power generation by July 2027, projecting over 270 GWh annual net energy output.

This marks the first deployment of Nordex's Anti-Icing System in Serbia, enhancing performance in colder climates. The deal includes a premium 30-year service package, extendable by five years, ensuring long-term revenue stability. Paris Lappas, Director Sales Mediterranean East, emphasized the N175/6.X's competitiveness and Serbia's renewable push.

For Nordex SE, listed on Frankfurt's Prime Standard (MDAX, TecDAX), this order elevates its Serbian portfolio to 425 MW sold. It arrives as the company navigates global wind market dynamics, with onshore projects gaining traction in Eastern Europe.

Strategic Expansion in South-Eastern Europe

Serbia's renewable targets align with EU integration goals, driving demand for efficient turbines. Nordex's success here builds on prior projects, totaling substantial capacity. The Jasikovo farm contributes to Serbia's wind expansion, where Nordex now leads.

Onshore wind remains core to Nordex's portfolio, focused on 4-7 MW+ classes. Factories in Germany, Spain, Brazil, India, and the US support global delivery. With over 64 GW commissioned since 1985, the firm leverages experience in diverse markets.

This order counters recent sector headwinds like permitting delays and commodity costs. It demonstrates pricing power and tech differentiation, key for industrials in renewables.

Operational Backbone and Recent Momentum

Nordex ended 2025 with consolidated sales around EUR 7.6 billion and over 11,100 employees. Service contracts like Jasikovo's provide recurring income, buffering turbine sales volatility. The global service network ensures turbine uptime, critical for client retention.

Recent wins include 54.4 MW from Prowind in Germany on March 19. Analyst updates, such as AlphaValue/Baader's upgrade to Reduce with higher PT on March 18, note persistent operational gains. Consensus leans Outperform with 16 analysts.

In industrials, order backlog quality matters. Jasikovo bolsters this, signaling demand durability amid electrification trends.

Investor Relevance for DACH Portfolios

DACH investors favor MDAX names like Nordex for green exposure. Germany's EEG reforms and Austria/Switzerland's net-zero pledges amplify onshore wind appeal. Nordex's German roots and EU focus align with local subsidies.

The stock trades on Frankfurt in EUR. Recent sessions showed stability around EUR 45 levels on SDAX/Prime Standard. This order could lift sentiment, given sector multiples.

For yield-seeking DACH funds, long-term service deals offer stability. Exposure to Eastern Europe diversifies from saturated Western markets.

Risks and Execution Challenges

Wind sector faces supply chain risks, with steel and rare earth costs volatile. Permitting in Serbia could delay timelines. Nordex's debt load requires monitoring amid capex for growth.

Competition from Vestas and Siemens Gamesa intensifies. Margin pressure from service pricing persists. Macro factors like interest rates impact project financing.

Geopolitical tensions in Europe add uncertainty to Eastern deals. Investors watch execution on backlogs for profitability inflection.

Outlook and Market Catalysts

EU's REPowerEU targets sustain onshore demand. Nordex's tech upgrades position it for repowering cycles. Emerging markets like Serbia offer growth beyond mature regions.

Analyst revisions highlight structural improvements. DACH investors eye FY26 guidance for order intake acceleration. Sustainability reporting will detail ESG progress.

This order validates strategy, potentially catalyzing rerating if replicated.

Disclaimer: This is not investment advice. Stocks are volatile financial instruments.