Glossar

guarantees

horizontal yaw control of the nacelle of a wind turbine

Ratio of new orders to sales in a given period. A book-to-bill ratio larger than 1 is considered to be an indicator of increasing capacity utilisation.

Theoretical number of hours per year in which a wind power system is able to operate at full load at a given location

Wind power systems are certified according to certain guidelines. This ensures that they are constructed correctly and can be operated safely. In Germany, Germanische Lloyd (GL) and TÜV Nord are the certifying agents.

In 2002 the German governement´s Corporate Governace Comission drew up a code to regulate nationally and inernationally recognised standards for fair and responsible corporate management. According to § 161 of the German Stock Corporation Act, every listed company must publish a "Declaration of Conformance" with the Code.

The regular share analysis of an investment bank for a listed company

Earnings before Interest and Tax

Renewable Energies Act. The EEG has regulated the feeding of regenerative energy into the German power grid since April 01, 2000

Proportion of equity in total assets. Is considered to be the benchmark for determing the intrinsic value of a company´s assets in the balance sheet.

A turbine´s yield depends on the wind speed. Turbines achieve their maximum output at wind speeds of between 13 and 15 m/s. The number of theoretical full-load hours per year characterises the quality of wind-farm sites. These range from 1,800 hours (Germany) to 2,900 hours (UK).

The gearbox is located between the slow rotor shaft and the fsat generator shaft. It causes the generator shaft to rotate 90 times faster than the rotor shaft.

The generator of a wind power system converts mechanical energy into electrical energy.

Benchmark for the economic performance of an economy. The GDP states all newly available goods and services at their current market prices produced in the country by nationals and non-nationals within one year.

Global Wind Energy Council - international umbrella association for wind energy.

Output is energy per time unit and is measured in watts. 1 kilowatt equals 1,000 watts

A loss carryforward is the total of all losses incurred in past fiscal years and which could not be netted against positive earnings. These losses can be carried forward to later fiscal years. From the point of view of taxation this involves the intention to offset these losses against profits anticipated in the future. Thus in a future assessment period the losses made in earlier assessment periods reduce taxes that would actually be incurred on the profit in this assessment period.

Value of an order minus costs of materials related to a project

1 megawatt equals 1,000 kilowatts

Order receipts

Turbines operated in coastal waters. The use of offshore turbines may take sense due to the stronger and more constant winds over the sea. On the downside, however, the costs for foundations and grid connection are higher.

Turbines installed on land

Control of the wind turbine by roating the rotor blade around the longitudinal axis.

Percantage of completion. The method stipulated by international accounting rules for recognising revenues.

Production Tax Credit. The PTC guarantees a tax credit on the income tax to be paid in the United States for companies operating wind power systems there. The current PTC stands at 1.9 US cents per kilowatt hour.

Fees for providing production time windows for projects to be delivered.

The rotor of a wind turbine comprises the blades and the hub. Nordex wind turbines always have three blades. The rotor is mounted on the main shaft.

Technology index of the Frankfurt stock exchange. Deutsche börse AG reorganised the German stock market in March 2003, introducing the TecDAX as the new index for the 30 largest technology stocks beneath the DAX 30.

1000 euros

Verband Deutscher Maschinen- und Anlagenbau (German Federal Mechanical Engineering Association)

Wind farms comprise of several wind turbines operated in tandem

The capital used during the implementation phase of an order