American Superconductor (AMSC) Announces New UK Orders For Wind Farm Connection Systems

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09:26:16 am on January 19, 2011

American Superconductor (AMSC) announced it received several new orders for its D-VAR wind farm connection systems in the UK bringing the total number of wind farms using AMSC’s system to 15 in the UK.  AMSC sold a record number of D-VAR systems in 2010, more than doubling its 2009 level.  The D-VAR systems allow for voltage control and greater efficiencies within wind farms.

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“The United Kingdom’s wind power market continues to grow strongly as the country strives to meet its objective of deriving 15% percent of its total energy consumption from renewables by 2020,” said AMSC President and Chief Operating Officer Dan McGahn. “Nordex is a key enabler of this emerging market. We are pleased to partner with this leading company to help the United Kingdom to meet its clean energy objectives.”

Shares of AMSC are still in correction mode off the October high and continue to trade below  the 50 and 200 day moving averages, but have shown signs of stabilizing at current levels and may be poised to make a move above important resistance levels in the coming weeks.  Of course much of that will depend on the overall market which is well overdue for some kind of correction.

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