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Nordex signs two power purchase contracts in India - CEO
May 30, 2017 / 8:06 AM / 6 months ago

Nordex signs two power purchase contracts in India - CEO

FRANKFURT (Reuters) - Nordex has signed power purchase contracts with Karnataka for two of the German wind turbine maker’s parks, its chief executive told shareholders at the group’s annual general meeting on Tuesday.

“By now we are slightly more optimistic,” Jose Luis Blanco said in a speech, after India’s recent shift to a tender-based model for wind projects had caused irritation among investors.

Order delays in India were one of the reasons for a substantial guidance cut in February that resulted in the resignation of former Chief Executive Lars Bondo Krogsgaard.

Reporting by Christoph Steitz; Editing by Maria Sheahan

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