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This week on News Flash, Nordex’s determined stance on US growth, the Cenos Floating Wind Farm project, National Grid’s sale of its US renewable assets, and Europe’s wind energy production expansion to meet 2030 climate targets.
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Allen Hall: Starting off the week, German wind leader Nordex remains bullish on US growth despite President’s Trump Day one, suspension of offshore wind leasing. CEO, Jose Hlu Blanco confidently told Reuters they’ll hit targets, quote, even in worse case scenarios. North American business surged 3% to 10% of orders in 2024 while Nordex exceeded profit forecast with 296 million euros. The company now aims to recapture its former 15 to 18% of the US market position and projects five to 7% profit margins for 2025. Energy developers, flotation Energy and Vagrønn have filed for approval of their groundbreaking Cenos floating Wind Farm with Scottish authorities.
The 95 turbine project will tower 320 meters above the North Sea, 190 kilometers from Scotland’s coast. The innovative offshore wind development secured through Crown Estate Scotland’s in into program will power both UK homes and North Sea oil platforms.
Public consultation remains open until April 4th, building on momentum from their successful Green Volt project. In a major market move, national Grid is offloading its entire US renewable portfolio to Canadian giant Brookfield for $1.74 billion. The strategic divestment includes 1.8 gigawatts of operational assets and 1.3 gigawatts under development across solar, wind, and battery technologies.
This sale follows similar renewable pullbacks by energy majors Shell, BP and Equinor Amid Profitability Challenges. National Grid will now concentrate investment on its core energy network infrastructure with the transaction expected to complete by early 2026. And finally, European wind energy suppliers are rapidly expanding production capacity with over 30 factories across the continent being expanded or newly built to meet ambitious EU 2030 climate targets. SEF is investing 300 million euros in Rotterdam to produce 200 triple XL offshore wind foundations.
Annually by mid 2025 while Siemens Gamesa announced a 200 million Euro investment to upgrade its facility in France to produce next generation 14 megawatt turbine blades, creating 200 new jobs. The manufacturing expansion spans cable production in nine European countries and turbine component factories in Denmark, France, Poland, Italy, and the uk.
These investments totaling 11 billion euros over two years, strengthens Europe’s energy security and creates thousands of jobs.
