This Fiscal Year at a Glance

January 2007
Nordex starts the new year with a large order from Scotland worth EUR 60 million. On January 24 the Company opens a new facility in Dongying, China. Here rotorThe 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. blades for the 1.5 MW machines are manufactured over an area of 8,400 square metres.

The French power plant group Areva submits a takeover bid for the wind turbine manufacturer Repower. At this time Areva is already Repower’s largest shareholder with a stake of 30%.

February 2007
Suzlon and Matifer, the second largest Repower shareholders, outbid Areva with a counterbid for Repower.

March 2007
Nordex signs further large orders in England, Italy and, for the first time, in Turkey. Overall, this means new contracts for projects worth more than EUR 200 million.

The countries of the European Union decide to reduce their greenhouse gas  emissions by 20% by the year 2020 based on 1990 as the reference year. This is intended as a follow-up arrangement to the Kyoto Protocol. The protocol stipulates an 8% reduction by the year 2012. At the same time the share of renewables in the EU is to rise to 20% of total energy volume.

Effective April 1, 2007, Nordex AG’s Supervisory Board appoints Bernard Schäferbarthold to the position of Chief Financial Officer (CFO) of the Company. Up until that date, CEO Thomas Richterich had additionally been acting as the Company’s CFO.

April 2007
In the first quarter of 2007 sales increased by 20%, as planned, and net profit rose by 80%. Nordex signs its largest ever master contract. Projects with a total capacity of 640 megawatt1 megawatt equals 1,000 kilowattss are to be supplied for its key account Babcock & Brown.

May 2007
Nordex returns to Sweden in triumph and obtains two orders worth a total of almost EUR 50 million. The two principal Nordex shareholders, Goldman Sachs and CMP Capital Management-Partners, mandated an investment bank to investigate a possible sale of the Company’s shares.

June 2007
In order to re-enter the North American market Nordex installs an N90/2500 US in Hewitt, Minnesota, which is adapted to American climate and grid conditions. The first larger projects are to be agreed on following successful tests. In 2009 the construction of factories in the United States is on the agenda. Together with the regional government, Nordex announces capital spending of some EUR 86 million at the Rostock headquarters. Here capacity is to be approximately trebled.

July 2007
In the first half of 2007 Nordex raised sales by some 30% and doubled pre-tax earnings to EUR 15.3 million. Nordex completes an increase in capital of 2.5 million new shares. This generates proceeds of around EUR 74 million, which the Company plans to use primarily to finance factory extension.

August 2007
Nordex presents its latest turbine development at the sector’s trade fair “Husum Wind”. The so-called N100/2500 is a 2.5 MW turbine that has been optimized for inland locations with a rotorThe 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. sweep 23% larger than the N90.

The French power station group Alstom acquires the Spanish wind turbine manufacturer Ecotécnia.

September 2007
Further major international orders for Nordex: customers from Italy and China order wind turbines with a capacity of 80 MW.

Areva, the loser in the battle for Repower, takes over Multibrid, the developer of an offshore machine.

October 2007
A further large order worth more than EUR 100 million comes from Italy.

The Chinese government announces wide-ranging measures to promote an environment-friendly growth course. Energy savings and modernisation of its  power plants (also using renewables) are on the agenda. The utility RWE announces plans to invest at least one billion euros in renewables as of 2008.

November 2007
The demand from China continues to grow for Nordex: regional utilities sign contracts with the Company for the construction of two 50 MW wind farmWind farms comprise of several wind turbines operated in tandems. The Company announces further capital spending at the “Windpower Shanghai” trade fair. Following successful tests of the US-N90, Nordex signs a major order with BP Alternative Energy for a 150 MW wind farmWind farms comprise of several wind turbines operated in tandem, to be installed in the United States in 2009.

December 2007
The United States postpone the decision on prolonging the PTCProduction 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. (tax credit for producers of renewables, which is limited until December 31, 2008). The German government presents a cabinet bill for an amended Renewable Energies Act. According to this, the offshore remuneration rate is to be raised to 14 cents per  kWh. Operators of modern onshore turbines are to receive up to 8.7 cents/kWh.

At the same time Nordex receives an undertaking for delivery of the first commercial offshore wind farmWind farms comprise of several wind turbines operated in tandem in Germany. For the first time, Nordex installs a 120 meter hybrid tower (concrete/steel) especially for inland wind farmWind farms comprise of several wind turbines operated in tandems. The largest operator of wind farmWind farms comprise of several wind turbines operated in tandems Iberdrola floats its wind subsidiary Renovables in order to generate further capital for growth. The issue is oversubscribed many times over. Hansen Transmissions, the second largest manufacturer of wind gearboxThe 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.es, conducts an IPO with the same aim in mind.