American Superconductor (AMSC) Gets $100 Million Follow On Sinovel Contract

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09:12:09 pm on September 29, 2009

American Superconductor (AMSC) has landed another contract from China’s largest wind turbine company Sinovel.  This time it’s a big one – $100 million to be exact. AMSC will supply Sinovel core electrical components for its 3MW wind turbines and begin shipping in March of next year. 

“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer of AMSC. “This success was achieved through the production of thousands of 1.5 MW wind turbines. Sinovel is now exhibiting its technology leadership by entering volume production of its SL3000 wind turbines. We at AMSC are proud to be supporting Sinovel’s 1.5 MW and 3 MW platforms and look forward to the launch of the company’s 5 MW wind turbines in the not-too-distant future.”

Shares of AMSC are up about 7% in after hours trading.

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