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American Superconductor (AMSC) Announces New China Smart Grid Order, Distribution Partner
American Superconductor (AMSC) has received a 2nd order for its D-VAR system for a Chinese smart grid and will deliver it to China National Machinery Industry Complete Engineering (note to China: shorten your company names!) by the end of this year. CMCEC will use the D-VAR to meet local grid interconnection requirements for Phase 1 of the Guanting Wind Farm which is ultimately expected to provide 150MW of wind power once completed. Furthering AMSC’s push into the China smart grid/wind energy market, CMCEC will also act a sales channel. Not bad when you can get a large, state owned company to help push sales of your product into what could be the largest smart grid market in the world. This is great news for AMSC and I don’t think it’s being fully priced in today with the stock up just 2.5%.
Here’s a comment from VP of AMSC, John Wang.
“As a global energy technologies company, we are dedicated to providing our customers with the Smart Grid solutions necessary for reliable operation of 21st Century power grids. Our D-VAR solution is recognized as the standard for wind farm grid interconnection around the world and is ideally suited to support China’s rapidly growing wind power market.”
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