Windletter #83 - Nabrawind incorporates Fortescue as a new shareholder
Also: SENSEWind prepares a prototype, Envision launches its EN-256/16.7, maritime space for 60 GW offshore in Germany, and more.
Hello everyone and welcome to a new issue of Windletter. I'm Sergio Fernández Munguía (@Sergio_FerMun) and here we discuss the latest news in the wind power sector from a different perspective. If you enjoy the newsletter and are not subscribed, you can do so here.
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The most read from the latest edition has been: the post with the numbers of the floating prototype TetraSpar, the map of floating wind in southern Europe, the news of Stellantis' wind-solar self-consumption.
After a couple of somewhat slower weeks, we are back with force, so, without further ado, let's get to the news of the week.
💼 Nabrawind receives an investment round from Fortescue
Fortescue, one of the largest iron ore producers in the world, has announced an equity investment in the Navarre-based company Nabrawind Technologies. For those who don't know it (although if you are a regular Windletter reader, it’s unlikely), Nabrawind is dedicated to developing innovative solutions for the wind sector, of which it holds several patents.
In this way, Fortescue and Nabrawind strengthen their relationship after reaching a convertible loan agreement in 2023. This agreement, by the way, has not yet been converted by Fortescue, so it is only now that Fortescue has officially become a shareholder.
Fortescue thus joins the rest of the partners, which are as follows (the stake of each in the shareholding is unknown):
Evoluwind: initial company, constituted by the founders.
Barinaga y Alberdi: worldwide manufacturer and distributor of hinges and knobs.
Sodena: investment instrument of the Government of Navarra.
Basarro: Navarrese investment company.
EIT InnoEnergy: EU company dedicated to promoting innovation in the EU.
The figures of the operation have not been disclosed, but we know that it involves a capital increase and also a partial divestment at least by Sodena, as announced on their website. It is unknown if any of the other partners have also sold some of their shares.
Additionally, according to Eneko Sanz, CEO of Nabrawind, the partners who sold part of their stake (no redundancy intended) did so with profit. This means that the valuation of Nabrawind has increased, which is good news for the future of the company.
According to statements by Eneko Sanz, CEO of Nabrawind:
"We are doubly satisfied: on the one hand, our partners guarantee profitability, since this operation also involves a partial divestment; on the other hand, we welcome a dream partner who shares our vision of the ecological transition. This partnership offers a great portfolio for Nabrawind, strong financial strength to support future growth, and consolidates our current team of 41 highly qualified professionals, who are performing incredibly well."
For its part, Fortescue has declared that the new investment “supports Nabrawind's growth and accelerates Fortescue's decarbonization mission.” It is most likely that Fortescue has found some synergy between Nabrawind’s products that can be pivotal in their future wind projects.
The truth is, I don’t know if Fortescue habitually makes such investments in companies or if the investment in Nabrawind is an exception.
In any case, this capital increase is great news for Nabrawind, as it gives it the strength to continue developing its products and continue with its “go to market” work, which is undoubtedly the main challenge it faces.
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🏗️ SENSEWind will install a 6MW prototype of its innovative assembly system
We continue with innovation in the wind sector, this time from the British company SENSEWind.
SENSEWind, a company with a profile similar to Nabrawind, seeks to innovate in the wind sector to reduce technology costs.
Their flagship product is a system that allows the assembly of the complete nacelle + rotor all at once and without the need for large cranes. The nacelle and rotor are assembled at a height close to the ground and then hoisted using a sort of rail incorporated into the tower's design.
The system is suitable for both new installations and reducing O&M costs throughout the asset's life. They plan to launch products for the onshore (2027) and offshore (2030) sectors.
They have even made a small-scale demonstrator in Northern Ireland, with a Vestas V27 mounted on a 26-meter tower.
SENSEWind has planned a 2 MW prototype for the first half of 2025 and has now announced a 6 MW demonstrator for 2027, both at the Tormywheel wind farm of Muirhall Energy, in Scotland.
The design also incorporates a first section of the tower in a tripod format, which they claim can significantly reduce costs.
We will be watching the development of these prototypes closely.
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🌊 Envision launches its offshore prototype EN-256/16.7
We continue with announcements of large turbines coming from China.
If last week we talked about Dongfang Electric Corporation and its offshore prototype with 18 MW of power and a rotor diameter of 260 meters, now it's Envision's turn, which has launched a prototype of the EN-256/16.7.
The truth is that many headlines call it the most powerful offshore turbine in the world, but given recent announcements, this should not be the case. Unless they are referring to the fact that it has been installed at sea, rather than being an offshore-designed prototype installed on land. I admit it is difficult to keep up with the advancements in announcements coming from China.
So far, no material (photos, videos) has been published or leaked about this turbine, but we will be keeping an eye out to bring it here.
So if you don't want to miss it, subscribe.
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🇩🇪 Germany publishes maritime areas capable of hosting 60 GW offshore
Germany is advancing rapidly in offshore wind energy. Authorities have released a draft identifying areas suitable for offshore wind installations in the coming years, with an estimated capacity of a whopping 60 GW.
According to Germany's goals, offshore wind should reach 30 GW installed capacity by 2030, starting from 8.5 GW in 2023.
The map is truly impressive. You can read more information here (in German).
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💸 On the potential sale of Siemens Gamesa's business in India
Interesting reflection I found on LinkedIn regarding the potential sale of Siemens Gamesa's assets in India, written by Anshuman Swain.
In the post, Anshuman Swain reflects on Siemens Gamesa's possible exit from India and how it could pave the way for Chinese OEMs to step in.
This departure, as Anshuman Swain suggests, might lead to short-term benefits due to turbine price reductions, but could pose challenges in the long run.
You can read the full post at this link.
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🏗️ The curious 180-meter hybrid tower of this wind farm in China
LinkedIn's algorithm, which I believe knows me quite well by now, often recommends me random posts about wind energy. Lately, it has been suggesting several photos of this wind farm in China that features a hybrid concrete-steel tower standing an impressive 180 meters tall.
The design of the tower indeed catches my eye, not only for its height but also for its prismatic base instead of the usual circular base seen in these types of towers.
Moreover, it appears to have a large diameter at the base area, likely providing ample space on that ground platform.
The nacelle at the top seems to be from Windey.
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😄 The wind joke of the week
This week, let's add a touch of humor to Windletter. As you know, the European Football Championship is currently underway in Germany, and there's a funny topic that's perfect for a joke.
It turns out there's a Danish footballer named Jonas Wind. It's like having Oliver Atom play for France!
I might have to buy Jonas' shirt 😂. The joke was sent to me by @lajoyitademama on X/Twitter.
Enough Internet for today, see you next week!
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Disclaimer: The opinions presented in Windletter are mine and do not necessarily reflect the views of my employer.