Nordex invests $1.1B in Turkey's wind industry, Singapore plans to invest $3.7B in clean energy transition, Copenhagen Infrastructure Partners invests $1.9B in offshore wind farm in the Philippines.



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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum, and this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at intelstor.com.



Spanish German Nordex Group plans investing a little over a billion dollars in Turkey in 2024. Turkey is seen as a major wind market due to its young population on short potential and strong supply chains. Turkey is taking the lead in the wind supply chain as an uptick. Alternative to Asia. So this is a sweet spot for Turkey at the moment, Phil, where they do have a strong workforce.



They do have a lot of internal capabilities and Nordex is picking up on that.



Philip Totaro: Exactly. And to the extent that they've already established themselves as a kind of a wind manufacturing hub you've got Enercon there, you've got Nordex already there, LM. And a couple other smaller players.



But you also have subcomponent suppliers there. ASCA is there as a material supplier for blades. So there's a significant amount of opportunity. This investment represents largely project development activities is my understanding, but there will also be some factory expansion potential there as well as they look to expand Turkey as an export hub for for components and not just used in the domestic market, but also elsewhere throughout Europe.



Joel Saxum: To double down on talking about Nordex here, it was Wind Europe Bilbao last week, Nordex, it was, that, that show was the return of the OEMs. So you saw GE Vernova, Siemens Gamesa, Nordex, Enercon, everybody having their big booths again. To focus on this, Nordex had a, Fantastic, large booth, huge presence putting some of their new models out there.



They're really pushing that Delta 4000 platform. So you can see that the Nordex group is spending a lot of money to expand their footprint and could be capitalizing a little bit of that Siemens Gamesa absence from the market in that 4X, 5X area as well.



Allen Hall: Singapore is setting up a 3. 7 billion future energy fund and investing in clean energy tech and infrastructure.



Singapore aims to move quickly on its infrastructure and invest in clean energy security as part of its goal to reach net zero by 2050. Currently, 95 percent of electricity is produced from natural gas in Singapore. So there is now a plan to import low carbon power from its neighbors, which will require Obviously, investments in submarine cables and the grid, Phil, with that kind of money being invested in Singapore, that's going to bring a lot of clean tech to that area.



Philip Totaro: Absolutely. And they already have a lot of offshore wind capability that's headquartered in Singapore, a lot of, vessel owners and operators, et cetera. So there's an experience base there. To up to a point but it's also interesting because, this is a big city state I would say country, but this is a city state led initiative on decarbonization.



And so that's that's an important thing is again,