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Siemens Gamesa gets wind turbine order for major European project

Published 10/26/2017, 09:40 AM
© Reuters.  Siemens Gamesa gets wind turbine order for major European project
SIEGY
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  • Siemens Gamesa (OTCPK:GCTAF, OTCPK:GCTAY) says it has won an order to supply the Nordlicht onshore wind project - one of Europe’s largest such projects - with 67 turbines with a combined capacity of 281 MW.
  • Financial terms are not disclosed, but as a rule of thumb, onshore wind projects cost ~€1M/MW, which would give the project a value of ~€300M ($353M), according to Reuters.
  • Comprising the Kvitfjell and Raudfjell wind farms in northern Norway, Nordlicht is expected to be commissioned in mid-2019 and supply 50K households.
  • Siemens Gamesa, which emerged from the merger of Gamesa and the wind energy unit of Siemens (OTCPK:SIEGY), is the world’s second-largest maker of wind turbines.
  • Now read: Industrials Sector Analysts Call Quad/Graphics Top Gains Dog Per September Targets


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