Nordex Group and Sodena establish 'Nordex Electrolyzers' for green hydrogen electrolyzer development and manufacturing

Nordex Group, a global leader in wind turbine manufacturing, is making a direct entry into green hydrogen electrolyzer development through its newly established joint venture, Nordex Electrolyzers. This partnership, valued at USD 15 million and announced on March 31, 2023, includes an initial EUR 3 million capital commitment, positioning the company to vertically integrate into the nascent hydrogen economy. The commercial logic centers on leveraging Nordex's existing industrial capabilities and engineering expertise, potentially creating synergies between wind power generation and hydrogen production. Developing and manufacturing electrolyzers in Navarre, Spain, allows Nordex to diversify its core business beyond wind turbine production. This move also provides a strategic pathway for the company to capture value from the entire green energy chain, from renewable power generation to energy storage and conversion. Sodena, the public development agency of the Government of Navarre established in 1984, acts as a key investment vehicle for the region, supporting strategic business projects. Its participation in Nordex Electrolyzers aligns directly with its mandate to attract and foster industrial development within Navarre, specifically in emerging green sectors like hydrogen. For Nordex Group, one of the world’s largest wind turbine manufacturers, this joint venture represents a calculated expansion beyond its core offering of high-yield, cost-efficient wind turbines. The partnership allows Nordex to extend its portfolio into green hydrogen technology, capitalizing on its deep experience in renewable energy infrastructure. The joint venture between a public development agency and a major industrial player will establish local manufacturing capabilities for a critical component of the future energy landscape in Navarre, Spain.