Nordex Q3 Orders Rise 30% on Turkey and US Demand

German onshore wind turbine manufacturer Nordex reported a 30% year-on-year increase in project order intake in the third quarter of 2026, supported by strong demand from Turkey and a continued recovery in the United States market.

The company announced on October 12 that it received orders totalling 2,810 megawatts (MW) between July and September, up from 2,170 MW during the same period in 2025. The increase highlights improving demand for wind energy projects and the company’s expanding international order pipeline.

Nordex Sees Stronger Demand Across International Markets

Nordex Chief Executive Officer Jose Luis Blanco said the company’s order intake was becoming more geographically diversified, reflecting growing business opportunities across multiple international markets.

“Our order intake is becoming more globally diversified,” Blanco said in a statement.

He added that the international share of orders was expected to increase further as the company converts more projects from its existing pipeline into confirmed orders over the coming quarters.

The growth in third-quarter orders was driven in particular by significant demand from Turkey, alongside continued improvement in the US market. These developments have supported Nordex’s order momentum as the company seeks to expand its presence across key wind energy markets.

First Nine-Month Orders Exceed 7,700 MW

Nordex’s order intake also recorded year-on-year growth during the first nine months of 2026. The company received orders totalling 7,733 MW by the end of September, compared with 6,661 MW during the corresponding period in 2025.

The increase indicates stronger order activity over the year so far, with the third-quarter performance contributing to the company’s expanding order book.

For wind turbine manufacturers, project orders provide an important indicator of future business activity. However, the conversion of orders into revenue also depends on project execution, delivery schedules and the timing of customer installations.

Nordex’s growing international order intake suggests that demand from markets outside its traditional business base could play an increasingly important role in its future performance.

Turkey and US Recovery Support Wind Energy Demand

Turkey’s contribution to Nordex’s third-quarter order growth underscores the importance of international markets for onshore wind turbine manufacturers. Significant orders from the country helped lift the company’s total project intake during the July-September period.

The continued recovery in the United States also provided support. Improving order activity in the US market has offered an additional source of demand for Nordex as it works to convert its project pipeline into new contracts.

The combination of demand from Turkey and improving conditions in the US helped Nordex achieve a substantial increase in quarterly order volumes despite differing market conditions across regions.

Blanco’s comments suggest that the company expects its international business to become more prominent in the coming quarters as additional projects move towards confirmed orders.

Nordex Shares Have Fallen Nearly One-Third Since May High

Despite the improvement in order intake, Nordex’s share price has faced pressure. The company’s shares have fallen nearly one-third since reaching a high in early May.

The decline contrasts with the growth in project orders reported for the third quarter and the first nine months of the year. However, order growth alone does not determine share-price performance, as investors also consider profitability, operating costs, future earnings and broader market conditions.

Nordex’s latest figures provide evidence of stronger order momentum, while its ability to convert that demand into profitable business will remain important for its financial outlook.

Outlook: International Orders to Play a Bigger Role

Nordex expects the international share of its order intake to continue increasing as it converts projects in its pipeline into new contracts. Demand from Turkey and the recovery in the US market have already contributed to the company’s stronger third-quarter performance.

With orders reaching 7,733 MW in the first nine months of 2026, compared with 6,661 MW a year earlier, the company has recorded year-on-year growth in both its quarterly and year-to-date order intake.

The next phase of performance will depend on the pace at which Nordex secures additional contracts, delivers existing projects and manages execution across its international markets. Its latest results point to stronger demand for its onshore wind turbines, although the recent share-price decline shows that market confidence remains influenced by factors beyond order volumes.