Nordex expands into Latin America

HONDURAS: Nordex has acquired 100% of Honduran wind developer R4E, together with a 300MW project portfolio, with building penned in for 2014 or 2015.

The deal, carried out by American division Nordex US, marks the company's first solid incursion into the Latin American market, communications chief Ralf Peters told Windpower Monthly.
The final decision was largely spurred "by reduced turbine sales visibility in the US", said Peters, due to the federal government's failure to renew the production tax credit (PTC) for wind.
Other decisive factors, he added, were "good prospects for landing building permits" together with "excellent wind resources" across the two Honduran sites. These are located in the districts of San Maros de Colón and Ojojona, in the regions of Choluteca and Francisco Morazán, respectively.
Nordex is in negotiations with state utility ENEE for a Power Purchase Agreement (PPA). A Honduras regulation in 2007 obligates ENEE to buy power from approved renewables projects at market price plus 10%, through a 10- to 15-year PPA. It also offers tax relief across the supply chain.
Peters said Nordex is actively chasing opportunities across "most other Latin American markets", though declines to offer details.
Purchasing project portfolios helps increase sales, especially in new markets and has already been practiced by Nordex in France, Poland, Sweden and USA, said Peters.

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