American Superconductor (AMSC) Expanding In India With Inox Wind Energy License

You don’t hear too much about India’s renewable energy efforts, but expect to in the coming years.  It’s an opportunity every bit as big as China, just not as developed yet.  American Superconductor (AMSC) is expanding their presence there in a deal with Inox Wind to license its proprietary 2MW induction wind turbine design.  The deal allows Inox the right to manufacture and sell the turbines globally with production beginning next year.  AMSC will also help Inox with supply of components, establish a manufacturing line, build and test the wind turbines.  In exchange, AMSC will receive up front license fees and royalty payments.  This is the 2nd licensing deal for AMSC in India who forged a 1.65MW deal with Ghodawat Industries last year.

“We view India as a tremendous growth opportunity for all AMSC products,” said Greg Yurek, founder and CEO of AMSC. “Similar to our strategy in China, we have entered India through the wind energy market, which not only provides us with a growing stream of revenue, but also provides a concrete rationale to establish our in-country base of operations and contacts. From this base, we expect to address not only the wind market, but also the huge power grid market opportunity in India for our reactive compensation and superconductor products.”

India ranked as the world’s 5th largest wind power market at the end of 2008 with nearly 10GW of capacity.  Predictions call for the potential for 65 – 70GW of wind power capacity.

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