Nordex expects its merger with Acciona to lower the cost of energy from wind power by 15%-18% by 2018 through more efficient turbines and reduced product costs.
The company said lowering costs will be a key lever for increasing sales to a target of €4.2bn to €4.5bn over the next three years.
The two companies, which are currently still operating separately, are targeting sales of €2.4bn (Nordex) and €1bn (Acciona) in 2015.
Nordex’smanagement board expects that, as a joint entity, the group will be able to achieve an EBITDA margin of over 10% by 2018, including around 60% of the synergy benefits of €95m per year expected from 2019 onwards.
Both companies are working on preparations for the merger, which is to be completed around 18 months after clearance by competition authorities is received.
Nordex chief executive officer Lars Bondo Krogsgaard said: “Nordex and [Acciona] are an ideal fit for each other.
“We complement each other in key areas and there is only little overlap.
“This will make the transformation of the two companies into a single group easier and allow it to bear fruit quickly.”
Image: a Nordex N117 3000 wind turbine (Nordex)
