Publisher: Nordex SE
The Nordex Group: Early initiatives in the green hydrogen market to complement its core business
© Nordex SEHamburg (renewablepress) - To complement its core business, supported by its extensive experience in the renewables sector, the Nordex Group has begun early initiatives in the green hydrogen market.
The Group has recently entered into two strategic joint ventures: one for the manufacturing of electrolyzers, a key component in the production of green hydrogen, and the second for developing large green hydrogen assets. Experts expect demand for hydrogen to grow exponentially by around 700 percent over the next thirty years. To achieve the target of net zero by 2050, it is required that the majority of this be achieved by clean sources.
José Luis Blanco, CEO of the Nordex Group, explains the rationale behind the company’s hydrogen activities: “With two joint ventures, the Nordex Group is establishing a presence in the hydrogen value chain, while, in parallel, continuing the company’s strategy of focusing on a low risk profile.”
Joint venture with Acciona: Developing green hydrogen projects
The joint venture with Acciona, Nordex H2 S.L, will develop green hydrogen projects in areas with abundant onshore wind resources. These resources are located in areas that are not connected to conventional power grids, and where green hydrogen can also be produced at a competitive cost. Bolstered by the company’s previous project development expertise in wind, the Nordex Group has built an attractive pipeline of green hydrogen projects throughout interesting geographies, for example, in the United States and Latin America.
ACCIONA has bought a 50 percent stake in this new Nordex Group venture for EUR 68 million – equally shared between ACCIONA S.A. and ACCIONA Energía - to fund the further development and expansion of the business.
With a target renewable energy development pipeline of 50 GW, the joint venture's goal is to develop projects that will produce 0.5 million tons of green hydrogen annually within the next ten years. The first projects would be ready-to-build by 2027.
Each of the projects, whose minimum size will be 1 GW of installed renewable power, will be deployed through strategic agreements with other public and private companies and institutions interested in the production or mass consumption of green hydrogen.
“We are very happy to now accelerate these achievements together with Acciona, a strong partner with extensive expertise in large infrastructure projects,” says José Luis Blanco, CEO of the Nordex Group. “This joint venture reinforces our shared commitment to a decisive contribution towards the decarbonization of the world’s economy.”
Joint venture with Sodena: Developing electrolyzers for green hydrogen production
The second initiative, "Nordex Electrolyzers", aims to develop, manufacture and market electrolyzers using proprietary technology. Both the Nordex Group and Sodena, a public company of the Government of Navarra, will allocate EUR 15 million to this initiative over the next five years to promote the development of a commercial prototype and its first industrial deployment. Experts expect demand for electrolyzers to grow from a very marginal capacity base today to 400 GW by 2030.
The Nordex Group - a profile
The Group has installed around 44 GW of wind energy capacity in over 40 markets and generated revenues of EUR 5.7 billion in 2022. The Company currently employs a workforce of approx. 9,100. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India, and Mexico. The product portfolio is focused on onshore turbines in the 4 to 6.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.
Download press photo:
© Nordex SE
Hamburg, 31 March 2023
Publication and Reprint free of charge; please send a voucher copy to Nordex SE.
Attention editorial offices - For further questions please contact:
Phone: +49 (0)40-30030–1000
Contact for investors:
Phone: +49 (0)40-30030–1000
Langenhorner Chaussee 600
Online press kit - all press releases from Nordex SE
Press photos for editorial use only
Note: For the content of this press release the issuer / publisher of the release is »Nordex SE« responsible.
The press release "The Nordex Group: Early initiatives in the green hydrogen market to complement its core business" von Nordex SE is also available in the following languages:
More press releases from Nordex SE
- Nordex Group receives two orders for 135 MW in Italy
- Nordex Group receives order from Ibereólica for approx. 60 MW in Spain
- BayWa r.e. awards Nordex Group order for 141 MW in Spain
- Nordex Group receives orders for 180 MW from Germany
- Hattrick in Türkiye: Rönesans Enerji places orders for 189 MW with the Nordex Group
- The Nordex Group to install 280 MW wind farm in Canada
- Nordex Group increases sales to EUR 2.8 billion in the first half of 2023
- Nordex Group achieves order intake of 1.6 GW in the second quarter of 2023
- The Nordex Group secures an additional 363 MW in the Mediterranean
- The Nordex Group receives order for 56 MW in Türkiye
About Nordex SE
The development, manufacture, project management and servicing of wind turbines in the onshore segment has been the core competence and passion of the Nordex Group and its more than 7,900 employees worldwide since 1985. As one of the world's largest wind turbine manufacturers, the Nordex Group offers high-yield, cost-efficient wind turbines under the Acciona Windpower and Nordex brands that enable long-term and economical power generation from wind energy in all geographical and climatic conditions.
The focus is on turbines in the 3 to 5MW+ class, and the Group’s comprehensive product portfolio offers individual solutions for both markets with limited space and regions with limited grid capacities. With more than 29 GW of installed capacity worldwide, Nordex Group systems deliver sustainable energy throughout more than 80 per cent of the world’s energy market (excluding China).
Nordex SE is listed on the TecDAX of the Frankfurt Stock Exchange. The management holding company is headquartered in Rostock, while the executive board and administrative offices are based in Hamburg. At production facilities in Germany, Spain, Brazil, the US, and India, the Nordex Group produces its own nacelles, rotor blades and concrete towers. The Group also maintains offices and branches in more than 25 countries.
Press contact at Nordex SE
Phone: +49 - (40) - 300 30 - 1141