Global Infrastructure SherpaNordex Group and Sodena establish 'Nordex Electrolyzers' for green hydrogen electrolyzer development and manufacturing
USD15M
Deal Value
The Nordex Group and Sodena, a public company of the Government of Navarra, have formed a joint initiative called 'Nordex Electrolyzers' to develop, manufacture, and market electrolyzers using proprietary technology. Both parties will allocate EUR 15 million over the next five years to advance a commercial prototype and its initial industrial deployment. This strategic move positions the Nordex Group in the green hydrogen value chain, complementing its core wind energy business by addressing the anticipated exponential growth in electrolyzer demand.
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Counterparts (2)
Partner
Sodena
Sodena is the public development agency of the Government of Navarre, Spain, established in 1984. It acts as an investment vehicle, supporting and attracting business projects in strategic sectors like renewable energies, advanced manufacturing, and digital technologies. With a portfolio of over 100 companies and a managed portfolio value of approximately $130 million, it aims to foster economic growth and employment in Navarre.
Nordex Group
The Nordex Group is one of the world’s largest wind turbine manufacturers. They offer high-yield, cost-efficient wind turbines that enable long-term and economical power generation from wind energy in all geographical and climatic conditions.
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Wind turbine giant Nordex Group is making a calculated leap into green hydrogen, forming 'Nordex Electrolyzers' with Sodena, Navarra's public development agency. This joint initiative will see both parties commit EUR 15 million over five years to develop and manufacture proprietary electrolyzer technology. The move strategically positions Nordex in the burgeoning green hydrogen value chain, directly complementing its core wind energy business by addressing future demand for production infrastructure. It's a clear signal of diversification for the turbine maker, backed by regional government support.
- Nordex Group (wind turbine maker) directly entering green hydrogen production.
- EUR 15 million joint investment over five years from both parties.
- Sodena, Navarra's public development agency, co-founding the venture.
- Focus on proprietary electrolyzer technology development and manufacturing.
Timeline
Announced
Mar 31, 2023
Signed
Closed
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