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AMSC Receives $20M Order From India Wind Turbine Company

|Includes: American Superconductor Corporation (AMSC)
American Superconductor Corporation (NASDAQ: AMSC), which creates wind jobs, has received an initial order for full wind turbine electrical control systems worth more than US$20 million from Ghodawat Energy Pvt. Ltd. (GEPL) of India.

Under the terms of the contract, AMSC will begin shipping the electrical control systems to Ghodawat in the middle of calendar 2010 and will complete all shipments by the end of calendar 2013 at the latest. Ghodawat is the sixth customer to place a volume production order for wind turbine power electronic components or systems with AMSC over the past 12 months.

The flagship renewable energy arm of Maharashtra, India-based Sanjay Ghodawat Group, GEPL owns and operates over 150 wind turbines that are generating over 100 megawatts (MW) of electricity at wind farms in four states of India. It also operates a tubular-type wind turbine tower manufacturing facility under Shrenik Industries Pvt. Ltd., a 100% subsidy of GEPL. Its manufacturing capacity is 400 towers per year. The company has now begun manufacturing full 1.65-MW doubly fed induction wind turbines that were designed by and licensed from AMSC’s wholly owned AMSC Windtec™ subsidiary. GEPL already has erected its first 1.65 MW wind turbines (branded the Ghodawat 1650) and recently completed construction of a wind turbine production plant in Maharashtra with an estimated annual output of 500 MW.

“Pollution, greenhouse gas emissions and energy independence are growing, global concerns that are helping to drive the adoption of clean, renewable power,” said Shrenik Ghodawat, Managing Director of GEPL. “Our goal is to achieve 25 percent market share in India’s wind power market while also building our business in foreign markets.”

GEPL licensed AMSC Windtec’s proprietary WT1650df wind turbine design and manufacturing know-how under a contract signed in 2008. GEPL has the right to sell the 1.65 MW turbines around the globe.

According to a report issued in March 2010 by industry research firm MAKE Consulting, India ranked fifth in the world with approximately 10,500 MW of wind power installed at the end of 2009. MAKE expects that India will more than double its installed base to nearly 24,000 MW by the end of 2015.

AMSC’s wind turbine electrical control systems and core electrical components include the company's proprietary PowerModule™ power converters, pitch and yaw converters, SCADA systems and other power electronics.

 Website: www.amsc.com

 



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