Nordex turnaround? +6% yesterday, +25% since low in Nov

New form orders for 820 MW in US market – Nordex reported yesterday firm orders from two large US utilities for a 320MW, a 300MW and a 200MW wind farm. The orders are for its AW125/3000 and its AW125/3150. Delivery starts in Summer 2018.

EU energy ministers agree on 27% Share of renewables for total energy consumption by 2030, 14% in transport sector

Introduction of flexible electricity tariffs – In 2016 the EU reached a share of 16.9% for renewables, only slightly up from 16.7% in 2015. The proposals will now be discussed in the EU parlament which was aiming for a much higher 35% share. The share of renewables in heating and cooling shall rise by 1% each year from 2020 on.

New wind energy records: 60% of electricity from wind power in Germany, 22.3% all over Europe

2,128 GWh electricity generated from wind on 3 Jan 2018, almost 1,000 GWh in Germany – Happy New Year. The winter storms from the atlantic ocean over Europe brought new European records in France, Germany and Europe according to figures released by WindEurope. Wind, Solar and combined storage will soon replace fossil fuels for the electricity generation.

Longterm RWE/Innogy CEO leaves company with immediate effect

Profit warning and increased capex package caused the supervisory board to make drastic changes – The supervisory board terminated the contract with Peter Terium who led the group for more than 5 years in a board meeting last night. Innogy issued a profit warning last week and reduced guidance for 2017 and 2018 EBITDA by a mere €100 mn from €4.4 to €4.3bn. Shareholders who depend on stable dividend were more concerned about an increase of planned investments by more than 25% from €2.4bn to >€3bn in e-mobility, RE and superfast internet. The effect on free cash flow is 6 times as big.

RWE also lost more than 13% on marginal EBITDA revision of its 76.8% subsidiary innogy

Market Cap loss of €1.56bn – Despite its separate listing RWE still owns 76.8% of innogy. RWE does not expect a reduction in dividends. The market price adjustment was less severe than for its subsidiary innogy which erased €2.9bn in market cap. Based on that RWE may loose another 6.3% tomorrow or we may see a swing-back of innogy by 4.5%.