AMSC wins US$445 wind turbine component order from China’s Sinovel Wind
Power technologies company American Superconductor Corp (NASDAQ: AMSC)
has received a new order worth approximately US$445 million for wind
turbine core electrical components from Sinovel Wind, China’s largest
wind turbine manufacturer.
Under the new multi-year order, AMSC
will begin shipping core electrical components for Sinovel’s 1.5
MegaWatt wind turbines, branded the SL1500 in early 2011. Shipments
under the new contract will span a period of 30 months. AMSC is
currently shipping 1.5 MW core electrical components under a multi-year
contract that extends through early 2011.
In total, AMSC has
received more than US$1billion in orders from Sinovel.
“We are
proud to extend our strategic business alliance with Sinovel, which has
proven consistently to be a leader in wind turbine technology,” said
Greg Yurek, founder and chief executive officer of AMSC. “Since
starting up production in 2006, Sinovel has grown more rapidly than any
wind turbine manufacturer in the world. This new order will support
Sinovel’s continued production of SL1500s. At the same time, Sinovel
plans to increase production of its 3 MW wind turbines, which are
installed and operating in China’s first offshore wind farm and also
being marketed for onshore applications.”
“In addition, Sinovel
expects to install its 5 MW prototype by the end of 2010. These higher
power systems, which Sinove developed utilizing AMSC Windtec designs,
are also equipped with AMSC’s power electronics,” he added.
AMSC’s
core electrical components include the company’s proprietary
PowerModule PM3000W power converter and enable reliable,
high-performance wind turbine operation by controlling power flows,
regulating voltage, monitoring system performance and controlling the
pitch of wind turbine blades to maximize efficiency.
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