Nordex Green Bond Climate Bond Standard Verification Report

DNV GL verified that Nordex SE's proposed Green Bond, intended to raise up to €500 million for refinancing existing green debt (€412.5m) and developing the Delta4000 wind turbine (€87.5m), complies with the pre-issuance requirements of the Climate Bond Standard version 2.1. The assets involved are dedicated to wind energy manufacturing and assembly across Germany, Brazil, India, and Spain.

• The Nordex Green Bond is designed to raise up to Euro 500 million, with proceeds allocated to two primary purposes: the refinancing of EUR 412.5 million of a previous Green Schuldschein and an investment of EUR 87.5 million for the development of the Delta4000 Wind Turbine.
• DNV GL's pre-issuance verification concluded that the evidence and procedures provided by Nordex SE were sufficient to demonstrate compliance with the Climate Bond Standard version 2.1.
• The nominated projects and assets are classified under the Wind Energy Generation category, specifically including manufacturing facilities dedicated to wind energy and the construction of wind turbine hardware.
• The refinancing component of the bond includes assets from the Acciona Wind Power merger and Nordex operations, specifically mentioning turbine assembly in Navarre and Castellón (Spain), hubs and turbine assembly in Bahía (Brazil), turbine assembly in Chennai (India), and rotor manufacture in Rostock (Germany).
• Nordex SE intends to manage the bond proceeds through full and immediate disbursement, meaning no temporary investment vehicles other than cash will be required.
• The issuer will report on the environmental objectives of the nominated projects using quantitative metrics, including turbine production output, rotor blade production output, turbine availability, and installed capacity of wind turbines by geography.

APA

Climate Bonds Initiative (n.d.). Nordex Green Bond Climate Bond Standard Verification Report. https://www.climatebonds.net/files/drupal-files/files/Nordex_2_Pre%20Issuance_Signed.pdf

Chicago

Climate Bonds Initiative. Nordex Green Bond Climate Bond Standard Verification Report. n.d. https://www.climatebonds.net/files/drupal-files/files/Nordex_2_Pre%20Issuance_Signed.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Nordex Green Bond Climate Bond Standard Verification Report |url=https://www.climatebonds.net/files/drupal-files/files/Nordex_2_Pre%20Issuance_Signed.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiativendnordex, author = {{Climate Bonds Initiative}}, title = {{Nordex Green Bond Climate Bond Standard Verification Report}}, institution = {Climate Bonds Initiative}, url = {https://www.climatebonds.net/files/drupal-files/files/Nordex_2_Pre%20Issuance_Signed.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }