Wind turbine manufacturer Nordex has raised fresh capital for the second time in just a few weeks. The Hamburg-based company wants to collect 212 million euros from its shareholders with a capital increase, as Nordex announced on Sunday. The Spanish major shareholder Acciona, who only provided 139 million euros at the end of June, wants to be fully involved. Acciona would have to invest a further 84 million euros in Nordex, in line with its 39.7 percent stake.

The aim is to “strengthen the capital structure in the currently volatile market environment for the wind energy sector,” the statement said. The fresh funds are “protection against short-term, industry-specific risks” and improve Nordex’s position with customers. Wind power companies are currently suffering from massive increases in the cost of raw materials and fierce competition because they have often promised to deliver at fixed prices. Nordex has been in the red for years, but is hoping for a wind energy boom and an easing of the price war. Nordex has already raised more than EUR 1 billion in fresh capital since 2019.

As part of the capital increase by a good 20 percent, Nordex shareholders can purchase ten new shares for every 49 of their shares from Wednesday to July 26 at a price of EUR 5.90. That is a discount of a good third to the Xetra closing price of EUR 8.90 on Friday. A banking consortium guarantees the capital increase.

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