Nordex Stock Loses: Nordex Successful in The British Wind market

Hamburg, Germany - At the end of September, wind turbine manufacturer Nordex received an order for 66 MW of wind power capacity from Scotland. Nordex will be supplying twelve N149/5.X turbines to Capital Dynamics for the construction of a new onshore wind farm. The wind turbines will be installed in summer 2025.

Capital Dynamics is an independent, global private asset management company that has been investing in renewable energy in the UK since 2010 and currently owns and operates almost 2 GW of subsidy-free clean energy assets across Europe.

The Douglas West Extension wind farm is located approximately 40 kilometers south east of Glasgow in a rural area of South Lanarkshire. The site is characterized by very good continuous wind conditions, which enable a very high degree of utilization of the turbines. Douglas West Extension is part of a larger wind farm cluster with several existing and consented wind farms in the area.

The Nordex share fell by around 3 percent to EUR 13.20 in early trading today. Following the failed technical breakout above the EUR 15 mark, Nordex stock is currently on a downward trend despite the withdrawal of short sellers. Point72 Europe (London) has further reduced its net short positions in Nordex shares. While the share was still at 0.70 percent on September 18, 2024, according to the Federal Gazette it was still 0.47 percent on October 1, 2024 and thus below the reporting threshold.

Source: IWR Online, Oct 10 2024