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					</table><p>Germany-based wind turbine manufacturer <a href="https://www.nordex-online.com/en/" target="_blank" rel="noopener">Nordex</a> has placed €333 million ($391 million) worth of new green convertible bonds due in 2030. The bonds, with a denomination of €100,000 (~$109,043), will be convertible into new or existing ordinary bearer shares of Nordex.</p>
<p>The proceeds from the convertible bonds will be used for eligible green projects, as defined by Nordex&#8217;s Green Financing Framework.</p>
<p>The bonds will bear a coupon of 4.25% per annum, payable semi-annually, and are expected to be issued on or around April 14, 2023.</p>
<p>The pre-emptive rights of existing shareholders to subscribe to convertible bonds have been excluded.</p>
<p>The issuance will allow investors to participate in improving the company&#8217;s outlook and its environmental commitments.</p>
<p>Five Nordex subsidiaries will guarantee the payments of the convertible bonds. They will be issued and redeemed at 100% of their principal amount unless previously converted, repurchased, or redeemed.</p>
<p>The bonds will be traded on the non-regulated open market segment of the Frankfurt Stock Exchange.</p>
<p>The company can redeem the convertible bonds at their principal amount under their terms and conditions at any time. Holders of the bonds will be entitled to require an early redemption of their bonds on April 14, 2028.</p>
<p>&#8220;Through this convertible bond issuance, we are pleased to enable investors to take part in the company&#8217;s improving outlook, as well as to allow them to be associated with our environmental commitments. The successful placement demonstrates investors&#8217; high confidence in Nordex&#8217;s business model and the industry&#8217;s long-term prospects. It allows Nordex to strengthen its capital structure while optimizing financing costs.&#8221;, said Ilya Hartmann, Chief Financial Officer of Nordex.</p>
<p>Nordex has agreed not to sell any securities that are substantially like the convertible bonds or shares during a lock-up period ending 90 days after the settlement of the convertible bond, subject to certain exceptions and waivers by the Joint Global Coordinators.</p>
<p>In October last year, Nordex <a href="https://mercomindia.com/daily-news-wrap-decathlon-procure-solar-fourth-partner/" target="_blank" rel="noopener">received</a> an order for 81.6 MW from the Landwind Group to supply 12 N163/6.X turbines distributed among four wind farm sections in eastern Lower Saxony, Germany.</p>
<p>The company also <a href="https://mercomindia.com/daily-news-wrap-up-vikram-solar-supply-350-mw-modules-arizona/" target="_blank" rel="noopener">received</a> an order for 31.5 MW wind turbines in Germany, which included seven N149/4.X turbines of the Delta4000 series for the Kantow wind farm.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Nordex Completes $391 Million Green Convertible Bonds Placement


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					</table><p>Germany-based wind turbine manufacturer <a href="https://www.nordex-online.com/en/" target="_blank" rel="noopener">Nordex SE</a> reported a net loss of €371.6 million (~$385.1 million) in the first nine months (9M) of the calendar year (CY) 2022, compared to €103.7 million (~$107.47 million) in the corresponding period last year.</p>
<p>The company attributed the higher losses to supply chain disruptions during the year.</p>
<p>For the January-September period, Nordex&#8217;s revenue came in at €3.9 billion (~$4.04 billion), almost flat Year-over-Year.</p>
<p>Sales in the projects segment fell by 2.5% YoY to €3.5 billion (~$3.63 billion), while sales in the service segment grew by 20% YoY to €397.9 million (~$412.36 million) in 9M 2022.</p>
<p>The earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at a loss of €199.8 million (~$207.06 million) compared to €100.7 million (~$104.4 million).</p>
<p>The company said the EBITDA figures were hampered by the persistently strong inflationary environment and supply chain disruption. However, it added that the latest improvement in selling prices for new incoming orders would start to have a positive impact after some time next year.</p>
<p>The company&#8217;s order book swelled by 21% to €9.7 billion (~$10.05 billion) in 9M 2022, compared to €8 billion (~$8.29 billion) YoY. Out of the total, €6.5 billion (~$6.74 billion) was related to the projects segment and €3.1 billion (~$3.21 billion) to the service segment.</p>
<p>The Nordex Group installed 791 wind turbines in 17 countries with a total output of 3.6 GW during 9M 2022, compared to 1,216 wind turbines YoY in 22 countries with a total output of 4.9 GW. Europe accounted for around 74% of installations, while non-European markets accounted for approximately 26%.</p>
<p>Commenting on the results, José Luis Blanco, CEO of Nordex SE, said, &#8220;In a challenging market environment, we managed to achieve higher selling prices for new orders that will compensate for the massive cost increases triggered by external factors and boost our profitability in the medium term.&#8221;</p>
<p>Nordex stated that it reached an important technical milestone by unveiling its N175/6.X turbine. With the newly designed one-piece rotor, the turbine achieves an above-average capacity factor and can generate between 7-14% of additional output in locations with light and moderate winds compared to its predecessors.</p>
<p>Recently, Nordex Group <a href="https://mercomindia.com/daily-news-wrap-decathlon-procure-solar-fourth-partner/" target="_blank" rel="noopener">received</a> an order for 81.6 MW from the Landwind Group to supply 12 N163/6.X turbines distributed among four wind farm sections in eastern Lower Saxony, Germany. The wind farms are to be built in the districts of Helmstedt and Wolfenbüttel. The turbines in the 6 MW class on hybrid towers with a hub height of 164 meters are scheduled to start operation as of winter 2023. Subsequently, the turbines will produce some 180 million kWh of green electricity, saving up to 128,000 tons of CO2 annually.</p>
<p>Earlier, the company had <a href="https://mercomindia.com/daily-news-wrap-up-vikram-solar-supply-350-mw-modules-arizona/" target="_blank" rel="noopener">received</a> an order for 31.5 MW wind turbines in Germany from wpd, which included seven N149/4.X turbines of the Delta4000 series for the Kantow wind farm. The 31.5 MW Kantow wind farm is built in Brandenburg, about 90 kilometers northwest of Berlin. The turbines with a rated output of 4.5 MW will be installed on hybrid towers with a hub height of 164 meters in the summer of 2023.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
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<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Nordex’s 9M Net Loss Grows to €372 Million on Supply Chain Disruptions

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