Fortescue has announced an equity investment into Pamplona-based Nabrawind.
Fortescue has announced an equity investment into Pamplona-based Nabrawind. This investment continues Fortescue and Nabrawind’s collaboration, working on the most difficult problems in onshore wind with a goal of improving yield while decreasing the cost of logistics, cranes, and project delays. This investment supports Nabrawind’s growth and accelerates Fortescue’s decarbonisation mission.
Fortescue Energy CEO, Mark Hutchinson, said, “Fortescue is pleased to continue our investment in a company leading the way in wind turbine technology. Nabrawind is a critical partner in our fight to increase renewable energy adoption and decarbonise our energy usage across our Western Australian iron ore operations.”
“Fortescue’s investment will further enable Nabrawind to ramp up their cutting-edge innovations toward full scale commercialisation, with Fortescue as a major customer.”
Eneko Sanz, CEO of Nabrawind said: “We are doubly satisfied: on the one hand, our partners secure profitability; on the other hand, we welcome a dream partner who shares our vision for the green transition. This partnership offers a large pipeline for Nabrawind, robust financial strength to support future growth, and consolidates our current team, which is performing incredibly well”.
The first year of collaboration accelerated the inclusion of Nabrawind’s products with top wind turbine manufacturers, paving the way for further investment. Nabrawind’s technology is a step towards reducing barriers to generating green energy as well as manufacturing low-cost green hydrogen which is a central pillar in Fortescue’s decarbonisation roadmap.