OFFERING MEMORANDUM Global Offering of up to ... - Nordex

through a programmable logic control and is equipped with the ‘‘Nordex Control’’ remote monitoring
system, which allows all essential operating parameters to be transmitted to the Nordex control center.
The relatively low rotational speed, which due to the variable-speed design can be reduced to 10
revolutions per minute, ensures a comparatively low noise level for a turbine of this size without
compromising capacity. In addition, the low rotational speed of the rotor is not perceived as disturbing
by bystanders, because only rotational speeds that are faster than the human heart beat are often
perceived as disturbing.
The 1.5 megawatt Südwind S-70
Südwind Energy GmbH’s S-70 is the ‘‘little sister’’ of the N-80 and is technically very similar. With a
rotor diameter of 70m and tower heights of 65 – 85m, the pitch-regulated, variable-speed S-70
achieves a nominal output of 1.5 megawatts, which can be reached at wind speeds as low as 14 m/s.
The S-70 is produced and sold, pursuant to a licensing agreement between Südwind Energy GmbH and
pro + pro Energiesysteme GmbH & Co. KG (see ‘‘—Intellectual Property Rights – Patents, Trademarks
and Licenses’’).
Nordex N-54 and N-60
The Nordex N-54 and the N-60, which was developed from the N-54, are designed to a different
underlying technical concept from the N-80 and S-70. The N-54 and N-60, which are among the best
selling wind turbines produced by the Nordex Group, are stall-regulated, and the generator units are
comprised of a pole-changeable asynchronous generator. The pole-changeable function of the
asynchronous generator enables the N-54 and N-60 to operate at two different nominal rotational
speeds which can be switched while the turbine is in operation, thus increasing the energy yield in
variable wind conditions.
The N-54 generates a nominal output of 1,000 kW at wind speeds between 14 m/s and 25 m/s with a
rotor diameter of 54m and tower heights of 60m to 70m.
The N-60 generates a nominal output of 1.3 megawatts with a rotor diameter of 60m or 62m and
tower heights of 60m to 85m. The N-60 can be operated at wind speeds of between 3 m/s and 25 m/s.
Production Sites and Capacity
The Nordex Group’s strategy is to develop and manufacture key components of wind turbines in-house,
while at the same time coordinating the sourcing of low margin components commonly available on
the open market from outside suppliers. The Nordex Group concentrates its production on key
components such as rotor blades for its N-80 and N-60 large-scale wind turbines, control systems and
electrical components including the grid connection, as well as the engineering of its turbines. The
remaining components are sourced from other manufacturers of which some belong to the Babcock
Borsig Group (see ‘‘—Material Contracts’’ and ‘‘Relationships with the Majority Shareholders, the
Babcock Group and the Pedersen family’’). In addition to various small parts, third-party components
principally include towers, molded parts, rotor blades, generators and mechanical components (gears,
pitch bearings, shafts, brakes, etc.).
The rotor blades produced in-house for the N-80 and N-60 models are manufactured for Nordex by
Nordex Rotor GmbH in Rostock, the production facilities for which are still in the process of being
fitted out. The Nordex Group currently manufactures only 30m and 40m rotors for the N-60 and N-80
models, while some of the rotor blades for the N-60 are sourced from other manufacturers. Nordex
Rotor GmbH had 74 employees as of December 31, 2001.
The control systems including the related software and electrical components, including switch
cabinets, are produced by Nordex Automation GmbH in Rostock.
Nordex Energy GmbH’s completed wind turbines are assembled at the Rostock and Give, Denmark sites
as well as in a joint venture in Xi’an, China. Südwind Energy GmbH does not manufacture any
components, but instead outsources the production of its wind turbines primarily to Nordex Energy
GmbH and to a lesser degree to other production facilities. Südwind Energy GmbH maintains an
assembly plant in Lichtenau (near Paderborn) for servicing and maintenance.
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