Nordex sets up Pakistan subsidiary

PAKISTAN: Nordex is setting up a subsidiary in Karachi, Pakistan to facilitate its 300MW project pipeline, is has been revealed.

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A Nordex spokesman told Windpower Monthly: "Pakistan has a huge growth potential and the new Feed in Tariff (FIT) offers an attractive price level for the industry. Based on the successful market entry we are now in the face of setting up a subsidiary in Karachi."

In October, Pakistan’s government introduced a FIT that is the second-most generous in Asia after Sri Lanka. Officials from Pakistan’s Alternative Energy Development Board (AEDB) is targeting eight 50MW wind projects to reach financial close by June.

Nordex signed a 250MW deal with four local developers in October 2011. The firm will supply 20 hot climate versions of its N100/2500 2.5MW turbines to each of the five wind farms covered by the deal. The wind farms are due to be built in 2012 and 2013.

When the deal was announced, Nordex CSO Lars Bondo Krogsgaard said Pakistan was its most important Asian market outside China.

It already had a deal for 50MW in 2010.

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