American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, announced that it has licensed its wind turbine design exclusively to Ghodawat Industries (India) Pvt. Ltd. (GIIPL) for certain countries in the Middle East, Southern Asia and Africa. GIIPL is the flagship company of Sanjay Ghodawat Group, located in Maharashtra, India.
GIIPL has been manufacturing wind turbine towers since 2004 for customers such as Suzlon, Vestas and Enercon.
GIIPL also owns and operates wind farms across four states in India. The company will utilize AMSC’s design, technology and core electrical components to begin manufacturing complete wind turbines for use in India and for export to countries in the Middle East, Southern Asia and Africa.
AMSC Windtec will provide training for GIIPL’s staff and project management services for the company’s first prototype units. GIIPL plans to begin manufacturing 1.65 MW turbines in 2009.
In addition to a multi-million dollar upfront license fee, AMSC will receive a royalty payment for the first 550 wind turbines manufactured by GIIPL.
According to a report issued in February 2008 by the Global Wind Energy Council, India now ranks fourth in the world in terms of total wind power capacity. Capacity in the country grew by 28% in 2007 to 8 gigawatts (GW). According to the India’s Ministry of New and Renewable Energy, the country has 60 GW of wind power potential.
"This license agreement with GIIPL represents our entry point for the market in India, not only for the wind industry, but also for the power grid sector," said Greg Yurek, AMSC founder and CEO, "GIIPL has the experience and knowledge base to rapidly expand its business in the fast growing Indian wind market. And as this penetration begins, we also expect to generate traction in India’s power grid market, which will be going through a major expansion over the next two decades."
About Ghodawat Industries (India) Pvt. Ltd.
A Sanjay Ghodawat Group company, Ghodawat Industries (India) Pvt. Ltd. will be leveraging years of manufacturing and development experience in the wind power market to become a leading manufacturer of wind turbines for India, Indian Subcontinent, the Middle East, Southern Asia and Africa. The company is based in Maharashtra, India, and is promoted by Sanjay Ghodawat Group, a diversified conglomerate with more than 5000 employees and strong presence in consumer goods, real estate, agro industries and energy sectors.
About American Superconductor
AMSC is a leading energy technologies company offering an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor (HTS) wires. AMSC is a leader in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world’s principal supplier of HTS wire, the company is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, Secure Super GridsTM technology, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity.
Loading...