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Nordex Group secures new order in the US

2016-12-13 08:39:36

DGAP-News: Nordex SE / Key word(s): Incoming Orders

13.12.2016 / 08:39
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Nordex Group secures new order in the US

- IPP purchases safe harbor components from Nordex for future wind farm projects

- Ordering components ensures that wind farm operator obtains top tax credit from Production Tax Credit

Hamburg, 13 December 2016. An international IPP has now signed a contract with the Nordex Group for PTC qualifying components corresponding to a value of 32 million US Dollars. The total volume of the customer's upcoming US projects, based on this contract, is expected to equate to 15 times the total value of the agreement.

The manufacturer has already begun execution of the order, featuring the AW3000 turbine. This ensures that the customer can obtain the full tax benefit for its wind farms according to the "safe harbor" terms by achieving commercial operation until 2020. In the US the Internal Revenue Service (IRS) requires wind energy projects to begin in 2016 and to be placed in service in order to qualify for the full Production Tax Credit (PTC) of 2.3 cents per kWh. However, most of execution of the order is expected to take place in 2018.

"A low cost of energy is the key to the success of a project. Apart from the continuous increase in the efficiency of our turbines, basically we therefore help our customers obtain the best possible tax benefit for their projects - as in the present case with the safe harbor solution where we have guaranteed that our customer can obtain the maximum PTC rate," says CSO Sales & Marketing Patxi Landa.

The Nordex Group - a profile
The Group has installed around 20 GW of wind energy capacity in over 25 markets. In 2015 Nordex and Acciona Windpower generated combined revenues of EUR 3.4 billion. The company currently employs a workforce of around 5,000. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States and India. The product portfolio is focused on onshore turbines in the 1.5 to 3.6 MW class, which are tailor-made for the market requirements in developed and emerging markets.

For more information, please contact:

Nordex SE
Felix Losada
Phone: 040 / 300 30 - 1000
flosada@nordex-online.com



13.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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