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Germany

Germany

Nordex and Acciona complete merger

GERMANY: Competition authorities have approved the deal between German manufacturer Nordex and Spanish OEM Acciona Windpower allowing the deal to be finalised.

Left to right: Acciona Group head of corporate development Juan Muro-Lara Girod, Nordex chairman Wolfgang Ziebart and Nordex CEO Lars Bondo Krogsgaard
Left to right: Acciona Group head of corporate development Juan Muro-Lara Girod, Nordex chairman Wolfgang Ziebart and Nordex CEO Lars Bondo Krogsgaard

"We are now taking the first steps towards establishing our company as a truly global player in the wind turbine industry," said Lars Bondo Krogsgaard, CEO of Nordex.

As a result of the merger, former Acciona Windpower executives Jose Luis Blanco and Patxi Landa have been appointed as chief operations officer and chief sales officer of Nordex respectively.

Krogsgaard and outgoing chief financial officer Bernard Schaferbarthold will continue in their roles. Schaferbarthold's replacement is yet to be announced.

Under the deal, first announced in October, Nordex has acquired Acciona Windpower from its parent company, energy and infrastructure firm Acciona Group. In return, Acciona Group becomes a 29.9% leading shareholder in Nordex.

At the end of March, Nordex announced it had raised €550 million for the merger from a consortium of banks.

Blanco, who will also act as deputy CEO, said: "We are a perfect fit in every respect and, working together, face excellent prospects for our new company's future extending well into the next decade."

The newly merged company has 18GW of installed capacity worldwide.

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