* Says business unit offshore will be discontinued
* Says business exit will not affect outlook
* Says goal is to strengthen business with onshore turbines
(Adds details, background)
FRANKFURT, April 18 German wind turbine maker
Nordex will abandon efforts to develop offshore
turbines after negotiations with a partner to form a joint
venture failed, the Hamburg-based group said on Wednesday.
Nordex said the termination of the offshore business would
not have any impact on its earnings outlook, adding it would
sell the respective assets to other interested parties and
assign any affected personnel to other units within the company.
"Going forward, the goal is to strengthen the development of
onshore turbines," Nordex said in a statement.
Earlier this month, Nordex Chief Executive Juergen Zeschky
said he hoped talks regarding an offshore joint venture would be
concluded successfully in the coming months.
Nordex is partly owned by Germany's Klatten family, which
owns 24.99 percent of the company. Susanne Klatten is Germany's
richest woman and is also a major shareholder in German carmaker
The company had said more than 150 million euros ($197
million) in investments were needed to enter serial production
of offshore wind turbines.
In Germany, the expansion of offshore wind turbines
currently suffers significant delays due to regulatory
uncertainty, including legal liability risks.
For instance, grid operators must compensate wind park
operators if power lines break down, which is discouraging them
from building connections to offshore parks. So investors in
wind parks have no guarantee they will be able to sell their
Nordex competes with Denmark's Vestas, Spain's
Gamesa, China's Sinovel, Germany's Siemens
and U.S.-based General Electric.
(Reporting by Christoph Steitz; Editing by Mike Nesbit)