American Superconductor Corporation (NASDAQ: AMSC) announced today that it has licensed several of its proprietary AMSC Windtec™ wind turbine designs to Beijing JINGCHENG New Energy Co., Ltd. (JCNE), a subsidiary of state-owned Beijing JINGCHENG Machinery Electric Holding Co., Ltd., which also owns Beijing BEIZHONG Steam Turbine Generator Co., Ltd. (BSTG).
JCNE has been producing wind turbines since 2006 and now has a base of operations that is capable of producing 2,000 megawatts (MW) annually.
JCNE is AMSC’s sixth wind turbine manufacturing customer in China. AMSC
also is providing wind turbine designs, support services and power
electronics and control systems to Sinovel Wind Co., a green investment opportunity that is expected to soon hold one of the largest IPO’s in cleantech history.
The other Chinese customers include CSR Zhuzhou
Electric Locomotive Research Institute Co., Dongfang Turbine Co., XJ
Group Corporation and Shenyang Blower Works. A
MSC also has licensees in
Korea, India, Taiwan, the Czech Republic and Turkey, and expects to
continue expanding its portfolio of licensees in other countries.
Under the terms of the contracts, AMSC has granted JCNE licenses to manufacture, market and sell AMSC Windtec 2 MW, 3 MW and 5 MW full conversion wind turbine models as well as a 3 MW SuperGEAR™ wind turbine model. AMSC will receive upfront license fees for these wind turbine designs. JCNE also will purchase electrical control systems and core electrical components for each of the wind turbines covered under these licenses exclusively from AMSC. JCNE plans to begin producing 2 MW and 3 MW full conversion wind turbines in 2011 and the rest of the wind turbines in subsequent years.
Beijing JINGCHENG New Energy Co., Ltd. (JCNE) is a “new energy enterprise” that is focused on wind farm investment, construction and operation as well as advanced wind turbine manufacturing. JCNE was formed in August 2010 through a restructuring of business, assets, organization and personnel from the wind division and large electric motor division of Beijing BEIZHONG Steam Turbine Generator Co., Ltd. The investors of JCNE include Beijing JINGCHENG Machinery Electric Holding Co., Ltd., Beijing BEIZHONG Steam Turbine Generator Co., Ltd. and Beijing Heavy Electric Machinery Works.
“The Chinese wind energy market is expected to continue growing strongly over at least the next decade and remains a core focus for AMSC,” said AMSC founder and CEO Greg Yurek. “JCNE has generated early momentum in the wind industry, and we believe they are well positioned to play a much more prominent role in the years ahead with our AMSC Windtec turbine designs, extensive customer support, and best-in-class power electronics and controls. With six Chinese wind turbine manufacturing customers now going to market with wind turbines ‘Powered by AMSC,’ we expect to continue growing our market share for wind turbine power electronics and controls both in China and worldwide.”
In 2009, AMSC’s power electronics and control systems, which serve as the “brains” of wind turbines, were inside nearly 10% of the wind turbines installed worldwide.
China installed over 13,000 MW of wind power in 2009, raising its total wind power installations to approximately 26,000 MW. According to a recent report from the China Wind Energy Association (CWEA), strong growth in China’s wind power market continued in 2010. During the first six months of the year, the CWEA estimates that 7,800 MW of wind power was installed in China. This put China on a pace to surpass the United States by the end 2010 to become the world’s largest wind market, with an installed wind capacity exceeding 40,000 MW. According to a recent Morgan Stanley research report, China’s wind power installed base is expected to grow to approximately 300,000 MW by 2020.
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Oh Lord here is comes. I see the greedy pigs at the gate ready to shove this crap down the whole worlds throat. These people who buy these green stocks literally have blood on their hands.