American Superconductor (AMSC) is up a bit in pre-market trading today after announcing it has received another follow on order for 30 sets of wind turbine power electronic components from South Korea’s Hyundai Heavy Industries who will use the components in the AMSC designed 1.65MW wind turbines. All shipments to Hyundai for this order are expected by June 30.
Hyundai licenses AMSC designs (beginning in 2008) and is allowed to market and sell wind turbines to most countries around the world including the US and Canada. They placed an initial order for 17 sets of electrical components in Aug 09, then another order for 30 in Nov 09. They plan to produce more than 170MW of wind turbines and has the capacity for much more with a 600MW per year plant in Gunsan, South Korea.
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AMSC CEO Greg Yurek commented: “With a strong business plan and flawless execution, HHI is building a vibrant, multi-national renewable energy business. This latest order is further evidence of the rapid traction the company’s 1.65 MW wind turbines are gaining in the global marketplace. We look forward to continuing and strengthening our strategic alliance with HHI in the years ahead.”
AMSC continues to expand and keep on point for China and Global Wind Power #1 player for components. WGOV and APWR are my two other players for the future
Wondering why AMSC’s stock price has lagged benhind in recent days despite its strong order wins recently from Asia