American Superconductor Corporation (NASDAQ: AMSC) announced that it has received a $450 million order from Beijing-based Sinovel Wind Corporation Limited for core electrical components for 1.5 megawatt (MW) wind turbines. The contract calls for shipments to begin in January 2009 and increase in amount year-over-year through the contract’s completion in December 2011.
This is a follow-on order for AMSC, worth approximately $450 million.
AMSC’s wind turbine electrical systems and core electrical components include the company’s proprietary PowerModuleTM power converters. They enable reliable wind turbine operation by controlling power flows, regulating voltage, monitoring system performance and controlling the pitch of wind turbine blades to maximize efficiency.
"Sinovel is the epitome of business success in China and is one of the fastest growing wind turbine manufacturers in the world," said Greg Yurek, founder and CEO of AMSC. "The core electrical components covered under this contract will be used to support more than 10 gigawatts of wind power capacity, nearly double China’s total wind power installed base at the end of 2007. It is invigorating to see Sinovel’s success in bringing much needed electrical generation capacity to the Chinese power market at a crucial time in that country’s expansion. We are proud to work in tandem with Sinovel on this important endeavor."
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. The company’s products, services and system-level solutions enable cleaner, more efficient and more reliable generation, delivery and use of electric power. 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...