According to a press release by the company’s CEO, German turbine manufacturer Nordex is looking to up-scale their orders after January’s takeover of Spain-based rival Acciona.
Nordex will be hoping to attract orders in the one hundred to two hundred megawatts range, and they say they are better prepared for higher volumes.
“Nordex is currently active in many small markets but they are obviously looking to make a move, especially in the United States,” said James Coleman, Managing Director and co-head of Portfolio Trading at Softbank CIBC International in a phone interview.
In one of many consolidation mergers in the renewable energy sector, Nordex announced plans to spend $800 million to purchase Acciona Wind Power in November of 2015 and completed the deal early this year. It’s a clear sign the company is trying to get a better foothold in Europe as it prepares to branch out globally.
Lars Bondo Krogsgaard, the Nordex chief executive, said that future synergies from the merger, which currently are estimated at 100 million euros, might be greatly increased down the line.
“There is definitely a possibility that the merger could have a much more beneficial effect on synergies than our analysts previously forecast,” he said in a statement.
Krogsgaard will be hoping a move into the U.S. market will boost orders towards the end of this year. He took over as CEO last December and has drawn accolades for his forward thinking style.
