Higher demand for our turbines

Nordex posted a net profit of 1.3 million euros ($1.7 million) in the first half of 2013, comparing favorably with a loss of 23 million euros in the same period last year, company figures released Thursday showed.

The first profit in two years came on 57 percent higher sales of the German wind turbine manufacturer, reaching 661 million euros in the six months.

In addition, the company's restructuring drive of the past months was bearing fruit, said Nordex Chief Executive Jürgen Zeschky.

“Higher demand for our turbines, as well as improving productivity are showing that our strategy is working,” he said in the company's earnings report.

Nordex, as well as its main rivals Vestas and Repower, have been suffering from overcapacity and falling product margins in the market for wind power turbines.

The German firm, which is based in Hamburg, has drastically cut costs and closed plants in China and the United States to counter the downturn especially in the European markets.

Nordex appears to have turned the corner, claiming it had secured new orders to the tune of 839 million euros between January and June - up 61 percent from the same period a year ago.

Nordex CEO Zeschky said revenues for the full year could surge to 1.4 billion euros, which would be about 100 million euros more than had originally been envisaged.

As a result Nordex shares rose about 12 percent in the German stock market on Thursday, adding to gains of about 130 percent since the beginning of this year.

The Energy Department released two new reports showcasing record growth across the U.S. wind market – increasing America’s share of clean, renewable energy and supporting tens of thousands of jobs nationwide. According to these reports, the United States continues to be one of the world’s largest and fastest growing wind markets. In 2012, wind energy became the number one source of new U.S. electricity generation capacity for the first time – representing 43 percent of all new electric additions and accounting for $25 billion in U.S. investment.

In the first four years of the Obama Administration, American electricity generation from wind and solar power more than doubled. President Obama’s Climate Action Plan makes clear that the growth of clean, renewable wind energy remains a critical part of an all-of-the-above energy strategy that reduces harmful greenhouse gas emissions, diversifies our energy economy and brings innovative technologies on line. The Obama Administration has committed to another doubling of the renewable electricity generation from energy resources like wind power by 2020.

“The tremendous growth in the U.S. wind industry over the past few years underscores the importance of consistent policy that ensures America remains a leader in clean energy innovation,” said Energy Secretary Ernest Moniz. “As the fastest growing source of power in the United States, wind is paving the way to a cleaner, more sustainable future that protects our air and water and provides affordable, clean renewable energy to more and more Americans.”

The tremendous growth in the overall U.S. wind industry has led directly to more American jobs throughout a number of sectors and at factories and power plants across the country. According to industry estimates, the wind sector employs over 80,000 American workers, including workers at manufacturing facilities up and down the supply chain, as well as engineers and construction workers who build wind installations.

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