Nordex closes in on joint venture with Chinese utility Huadian

Nordex is in the final stages of talks to enter a joint venture with Chinese utility Huadian as it seeks to turn around its business in the world’s biggest wind market.

The German turbine maker announced last August that it is looking for a partner to buy a stake in its underperforming Chinese operations. Recharge can reveal that Nordex is in advanced discussions with Huadian, according to Chinese sources.

When asked at EWEA 2012 in Copenhagen, Nordex chief executive Jürgen Zeschky would neither confirm nor deny that his company is in negotiations with Huadian, saying he is bound by confidentiality agreements.

Zeschky says the prospective partner in China, which he will not yet name, is interested in Nordex’s…

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