Wind energy, grid contracts signed by AMSC

American Superconductor Corp. (NASDAQ: AMSC) said it has signed $100 million in contracts for wind energy and electric grid work in the U.S., China, India and Korea since April 1.

AMSC’s Windtec unit will supply wind turbine electrical components to three companies for wind turbine manufacturing:

  • Jingcheng New Energy Co. Ltd. in China to upgrade and expand its multi-megawatt wind turbine platforms. Shipments under this contract are expected to begin in late 2011 and end in 2014.
  • Inox Wind Limited in India to build, own and operate more than 2,000 MW of wind power in the next five years. Shipments are expected to begin in late 2011 and end in 2012.
  • Hyundai Heavy Industries in South Korea for volume production of HHI’s 2 MW wind turbines. Shipments began this year.

AMSC received orders for its grid interconnection and high voltage stability solutions in the U.S. and Europe and made a key high temperature superconductor wire shipment to South Korea.

AMSC’s grid technology is made to enable wind and solar energy projects to integrate electricity into the grid, including:

  • Providing a D-VAR system for Keys Energy Services in Florida to improve voltage stability. It is part of a multi-year project between Keys Energy, Florida Municipal Power Agency and the Florida Keys Electric Co-Op to increase the import capacity of the 120-mile long transmission line.
  • AMSC will also help 150 MW of unidentified wind and solar projects in Europe and the U.S. integrate into the grid.
  • AMSC also shipped an Ameprium wire to LS Cable & System in South Korea for superconductor cable projects.

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