American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, announced that it has signed a multi-million-dollar contract to provide wind turbine designs to China’s XJ Group Corporation (XJ Group).
Under the terms of the contract, AMSC’s wholly owned AMSC Windtec(TM) subsidiary will provide XJ Group with designs for its WT2000df, a 2-megawatt (MW) doubly fed induction wind turbine. In addition to the upfront fee, AMSC also expects to provide core electrical components for the 2-MW wind turbines manufactured by XJ Group.
Founded in 1970 and based in the city of Xuchang in the Henan province of China, XJ Group is one of China’s largest manufacturers of power equipment and transmission and distribution technologies for the electric utility market. The company’s advanced technologies and services are aimed at improving the performance and efficiency of its customers’ operations. XJ Group employs more than 5,000 people worldwide and operates facilities in 30 countries globally, including 40 locations throughout China.
"The wind power market in China and around the world continues to expand at a dramatic rate," said Li Fusheng, President of XJ Group. "We selected AMSC Windtec because of its proven turbine designs, its ability to help us localize our supply chain and its high-performance wind turbine electrical systems."
While XJ Group initially expects to produce wind turbines for the Chinese market, the company has the right to sell the WT2000df worldwide. XJ Group plans to have its first prototypes installed and commissioned by the end of 2009 and expects to begin shipping wind turbines to customers in 2010.
"XJ Group is a well established manufacturer and supplier of products and services for the Chinese electric utility industry," said Greg Yurek, founder and CEO of AMSC. "XJ Group will be a strong partner to address the growing needs for high power, high efficiency wind turbines in China and around the world. We look forward to working with them to bring their first wind turbines to market."
Recent reports have indicated that China may increase its wind power capacity from 6 gigawatts at the end of 2007 to 100 gigawatts by 2020. This type of expansion would require approximately 47,000 2-MW wind turbines over a 12-year timeframe.
About XJ Group Corporation
XJ Group is a leader in China in power equipment manufacturing and services for power generation, transmission & distribution that enable global utility and industry customers to improve their performance and efficiency. The XJ Group of companies operates in all over China and around 30 countries for the last 38 years. For more information, visit http://english.xjgc.com/Company.asp.
About American Superconductor (NASDAQ: AMSC)
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 Grids(TM) 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.
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