American Superconductor Gets New Orders
Tuesday June 12, 11:40 am ET
American Superconductor Receives 2 Voltage Regulation Product Orders From U.S. Wind Farms
WESTBOROUGH, Mass. (AP) -- American Superconductor Corp. said Tuesday it received two additional orders, each worth more than $1 million, for its D-VAR voltage regulation product for use in U.S. wind farms under construction.
"While most of our orders have come from overseas where government-imposed dynamic voltage requirements are in place, we are beginning to generate more business in the United States based largely on requirements put in place by local utilities," said Chuck Stankiewicz, senior vice president and general manager of AMSC Power Systems.
The company said these latest D-VAR systems will serve two wind farms in the Midwest with nearly 450 megawatts of combined wind power capacity. The wind farms employ wind energy systems from Mitsubishi, Vestas and GE. Both wind farms are scheduled for operation within the next 12 months.
The AMSC D-VAR units will be delivered in the second half of 2007 and provide voltage regulation and power factor correction, along with assistance to prevent voltage collapse for the power grid to which the wind farms will be connected.
Shares rose 11 cents to $17.05 in midday trading.
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