Nordex names new N American CEO to lead US growth

Nordex SE, a German wind turbine manufacturer (ETR:NDX1), has appointed a new chief executive for its North American operations to drive the company’s business expansion in the US.

The company recently announced its plans to introduce a turbine specifically tailored to the American market, with an optimized capacity factor for US project conditions, aimed at significantly increasing yield in grid-constrained projects by mid-2024.

In addition, Nordex aims to expand its local supply chains in the US to ensure that American customers continue to benefit from local manufacturing credits, positioning the company to capitalize on anticipated market growth in the coming years.

Manav Sharma, currently serving as Nordex’s Chief Transformation Officer, has been appointed to lead the North American business starting from June 1, 2024.

Meanwhile, John McComas, Nordex’s current head of the North American region, will assume the newly created role of COO North America.

Nordex’s CEO, Jose Luis Blanco, expressed confidence in the company’s strengthened position in Europe and emphasized the focus on expanding efforts in the North American arm of the business.

Blanco added that with Sharma and his team leading the US-turbine launch and accelerating supply chain transformation, Nordex will be well-positioned to benefit from the expected growth in both the US and Canadian markets.

In 2023, Europe accounted for 86% of Nordex’s total order volume, while North America, including Canada, made up 4%.

Source Nordex

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