American Superconductor (NASDAQ: AMSC) and South Korea-based Hyundai Heavy (Korean Stock Exchange: HHI) are expanding their strategic alliance to include joint development of a 5 MW wind turbine primarily for use in offshore wind.
Once the 5 MW wind turbine – one of the largest on the market – begins volume production toward the end of 2011, HHI will purchase power electronic components for the turbines from AMSC.
The deal is similar to a previous one where HHI licensed 1.65 and 2 MW wind turbine designs from AMSC. Volume production has begun and now HHI buys the electrical control systems and power electronic components from AMSC.
"With sales of our 1.65 MW wind turbines increasing according to plan and production of our 2 MW wind turbine set to begin, we are ready to add another advanced system to our renewable energy portfolio," said Keh-Sik Min, CEO of HHI. "While we expect our 1.65 and 2 MW wind turbines to be our onshore ‘workhorses,’ the global offshore wind market holds tremendous growth potential for HHI."
Said AMSC founder and CEO Greg Yurek, "Within two years, HHI has formed a new wind energy division and will have brought two high-performance, megawatt-scale wind turbines to market – a feat few have accomplished in the industry. HHI now aims to establish a leadership position in the offshore wind turbine market by combining AMSC Windtec’s leading engineering expertise with its own manufacturing experience and its extensive offshore development capabilities."
AMSC’s wind turbine electrical control systems and electrical components include the company’s proprietary PowerModuleTM power converters, pitch and yaw converters and SCADA systems. They enable reliable, high-performance wind turbine operation by controlling power flows, regulating voltage, monitoring system performance, controlling the pitch of wind turbine blades and the yaw of the turbines to maximize efficiency.
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